204 Rigsbee AveDurham, NC 27701

Property Details for 204 Rigsbee Ave

Year built

2001

Property size (Sq ft)

4,251 SF

Property type

Office properties

Property subtype

Other office properties

APN

197963

APU

197963

Description

This exceptional 3,944 square foot commercial condo unit, located at 204 Rigsbee Avenue in Durham, NC, presents a unique investment opportunity. Situated in a vibrant downtown location, this street-level space boasts an open, creative office layout, easily adaptable to various uses, including retail, food and beverage establishments. The property is part of a larger building totaling 11,768 square feet, constructed in 1939 and extensively renovated in 2021. The building features one story above ground and one below, offering a total of six parking spaces. The property sits on 0.1 acres of land and is zoned DD-C. Its prime location offers excellent visibility and accessibility, adjacent to popular restaurants and cafes, ensuring high foot traffic. The unit features an attractive storefront façade and convenient access to parking, along with two exits for optimal functionality. This Class C building, with APN 197963 in Durham County, is ideal for businesses seeking a flexible and well-located space in a rapidly growing area. The property is currently available for lease or sale and offers a rare opportunity to establish a presence in the heart of Durham's thriving commercial district. No elevators are present in the building.

• CAP approach

  CAP return

  Valuation

  6%

  $1,016,581

  6.5%

  $938,382

  7%

  $871,355

• Comparable approach

  Method

  Valuation

  Relative Method

  $975,775

  Geo Method

  $975,775

• Alternative Use

  Use

  Valuation

  Residential

  $1,163,594

  Hospitality

  $1,065,846

  Educational

  $886,771

  Medical

  $917,269

  Retail

  $1,379,422

Location Insight

City

Durham

County

Durham

State

North Carolina

Latitude

35.9972

Longitude

-78.8996

CBSA code

20500

CBSA name

DURHAM-CHAPEL HILL, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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