West Durham Retail Flex

Located in west Durham, just minutes from Duke University/Hospital (1 mile) and downtown Durham (3 miles).SVN | Real Estate Associates, as exclusive listing agent, is pleased to offer for sale 3171 Hillsborough Road in Durham, NC. This retail flex property is well located in west Durham, a short distance from both the city’s bustling downtown as well as Duke University and its nationally acclaimed medical center. Hillsborough Road is undergoing a renaissance, with numerous redevelopment projects currently under construction and more in planning, transforming the corridor to high-density, mixed use. The property, which contains a retail store in the front and warehouse space in the back, is leased to two tenants with triple net leases in place, with the landlord only responsible for roof and structure. The retail tenant pays well below market rent, giving an owner the future right to significantly bring the base rent up to market at lease expiration. The retail tenant has a short-term remaining on its lease with one option to renew. The back warehouse-only tenant is affiliated with the building’s ownership, and will agree to lease the space back from the buyer for up to three years at their current rental rate. They will then relocate to a new facility, which could free up the back space for a patient, future owner-occupant. Please register using the "Documents" tab on our listing page to access the property’s rent roll.n/a