3100 Tower Blvd - Office/Residential FOR SALE


Durham, NC 27707- Duke Forest
$12,000,000 USD
404-368-2629
3100 Tower Blvd, Durham, NC for Sale
$12,000,000 USD
Office/Residential - FOR SALE
1/19
null | Request Cap Rate

3100 Tower Blvd
Durham, NC 27707
Duke Forest


HIGHLIGHTS

  • Lucrative value-add office investment opportunity with an incredibly low basis enabling market leading occupancy and performance
  • University Tower offers unmatched views at a price point unavailable to competitors providing a significant barrier of entry advantage
  • Strong multifamily demand with competing rents over $2.20/ SF without the view and prominence of University Tower
  • Potential future use options including residential, medical, hotel, mixed-use, and others
  • Incredible basis at 10% of replacement cost for value-add office investors, seven million dollars under recent appraisal
  • Pro business market with employment increases announced in the area from Apple, Google, Grail Inc, Fugifilm Corporation, Eli Lilly and Kempower

OVERVIEW

Opportunity to acquire an iconic landmark 17-story tower on 5.88 acres in Durham at only $64.52 per SF. The pricing at $7 million below appraisal and approximately 10% of replacement cost, offers investors or users lucrative opportunities as reenergized office space. Additionally, the low basis, spectacular views and iconic visibility offer investors profitable future adaptive reuse opportunities including residential, mixed-use, hotel, and medical uses. Located directly between downtown Durham and Chapel Hill, the tower has immediate access to I-40 and NC-15-501 and benefits from Duke University, UNC Chapel Hill, Research Triangle Park, and RDU International Airport. This central position connects it to the Triangle’s most powerful economic engines, top-tier universities, major healthcare systems, and a rapidly growing residential population. The visibility from I-40 and the building’s commanding presence make it a beacon for business and branding unlike anything else in the market.

FOR SALE DETAILS

PRICE

$12,000,000 USD

PRICE/SF

$65 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

University Tower | Office Building

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Office/Residential

ADD'L SUBTYPES

Loft/Creative Space, Medical

TOTAL BUILDING SIZE

-

STORIES

17

BUILDING CLASS

A

YEAR BUILT

1896

SPRINKLERS

-

PARKING SPACES

729

LAND DETAILS

LAND ACRES

5.88 AC

LAND SF

256,263 SF

ZONING

-

APN/PARCEL ID

121524

ASK ABOUT THIS PROPERTY

Austin BullBull Realty Inc.More Info
404-368-2629

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Austin BullBull Realty Inc.More Info
404-368-2629

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.