1111 Neville Street
Industrial | 6.50% CAP | 46,094 SqFt
Marketing description
1111 Neville Street offers a rare opportunity to acquire a ±46,094 SF urban infill industrial warehouse in one of Durham’s fastest-evolving corridors.
Approximately 23,000 SF is leased long-term to anchor tenant, Counter Culture Coffee, on a NNN lease with tiered rent and accelerated annual escalations, providing a strong income base. The remaining space is occupied by multiple tenants with short-term leases, allowing for owner-user occupancy or repositioning in the near term.
The property is adjacent to the City of Durham’s planned $42M redevelopment of East End and Long Meadow Parks, further enhancing the area’s long-term growth trajectory. The surrounding neighborhood continues to see impressive home sale numbers, often exceeding prices of $900,000.
Located just minutes from downtown Durham (±1.5 miles) and Duke University (±3.5 miles), 1111 Neville is well positioned for a buyer seeking an asset in the direct path of growth.
Financials are available upon request with execution of an NDA.
Investment highlights
- Investment + Owner-User Opportunity: ±23,000 SF leased long-term to Counter Culture Coffee (NNN) with remaining space providing near-term occupancy or lease-up potential
- Functional Industrial Asset: ±46,094 SF warehouse with 4 dock-high loading positions and covered loading area
- Urban Infill Location: Surrounded by residential neighborhoods where renovated and new construction homes routinely sell for $800,000 - $1,000,000
- Proximity to Growth Drivers: Immediate access to downtown amenities, Duke University & Medical Center, and key transportation corridors
- Adjacent to $42MM Public Investment: Directly across from East End & Long Meadow Parks redevelopment
- Value-Add Potential: Short-term leases provide opportunity to increase rents or reposition space
- Recent Capital Improvements: New TPO roof + wet sprinkler system
- Future adaptive reuse or redevelopment potential
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