Luxury Mixed-Use Building For Sale
300 E. Main St. Durham, NC
$11,900,000Property Features
- Price: $11,900,000
- Address: 300 E. Main St.
- City/State: Durham, NC
- Submarket: Downtown Durham
- Annual NOI: $450,000
- Property Type: Mixed-Use
- Gross SF: 28,900
- Number of Units: 5
- Land Size: 0.3
- Year Built: 1924
- Floors: 5
- Zonning: DD-C
Extraordinary mixed-use building for sale in the heart of Downtown Durham. Originally constructed in 1924 as a Freemason’s Lodge, this beautiful neoclassical building has been meticulously renovated into a stunning example of adaptive reuse. With approximately 28,900 square feet, this building features commercial space on the first three floors and and incredible ultra-luxury residence on the top two floors. Dedicated on and off site parking is included.
The “penthouse” is an award-wining loft-style residence of approximately 9,500 open square feet featuring soaring ceilings, custom appointments, east-facing outdoor patio, three geothermal wells, heated floors, massive windows and spectacular urban views. Though this unit was designed for residential purpose, it could easily be converted and occupied for extremely impressive and cool open office use. A private two-car garage in the lower level services this unit. This is simply the most impressive unit within the Downtown Durham market.
The commercial space is presently occupied by Elevate Salon Academy and PopSugar, and produces a pro-forma NOI of approximately $450,000 per annum.
The property features a well-appointed courtyard, which provides an additional development opportunity and the new elevator and stair tower would be integrated as the common core for the new building. The existing building also provides an opportunity to add a new unit on the fifth floor, as the elevator and stairs were designed to accommodate a potential expansion.
