1500 Sunday Drive
1500 Sunday Drive, Raleigh, NC, 27607, US
5,688 m²
Description
Erwin Terrace (the "Asset" or "Property"), is a mixed use Asset in Durham, North Carolina strategically located adjacent to Duke University and Duke University Hospital. This unique opportunity presents investors with 25 multifamily units, 26,584 SF of retail, and 39,296 SF of office space primarily occupied by Duke University. The project is currently well occupied with the multifamily 100% leased, retail at 100%, and office at 76%.
The asset is located in a fortress, irreplaceable location with secular long-term tailwinds driving demand for each respective portion of the property for the long-term, and offers investors a generational opportunity to own a boutique mixed-use property in Durham.
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Attributes
Year built
2004
Land area gross
0.46 ha
Total Square Feet
105,055
Office Square Feet
39,296
Office Occupancy
78%
Office WALT
5.5 Years
Retail Square Feet
26,584
Retail Occupancy
100%
Retail WALT
3.7 Years
Multifamily Units
25
Avg. Multifamily Unit Square Feet
1,567
Multifamily Occupancy
100%
Erwin Terrace I & II (2 Properties)
Erwin Terrace I & II (2 Properties)
Media
Investment Highlights
- Directly adjacent to Duke University
- Highly favorable mixed-use dynamics
- Stable, in-place income from three product types
- Prime value-add opportunity through:
- Multifamily unit renovations
- Enhanced retail tenant mix
- Increased office occupancy
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Last updated
1 Oct 2025
