FOR IMMEDIATE RELEASE
Oak Street Commercial Real Estate Represents Buyer in $1.2 Million Downtown Durham Mixed-Use Acquisition
4,500-square-foot property acquired as part of a time-sensitive 1031 exchange after a two-year search
DURHAM, N.C. — July 23, 2026 — Oak Street Commercial Real Estate announced the successful representation of the buyer in the acquisition of a 4,500-square-foot, three-story mixed-use building located at 124 E. Main Street in Downtown Durham. The property sold for $1.2 million.
The acquisition was completed on behalf of a buyer utilizing a 1031 exchange, making the transaction subject to strict timing requirements. The property’s three-story configuration offers multiple opportunities for income generation while supporting the buyer’s long-term investment and business objectives.
Oak Street Commercial Real Estate began working with the client in early 2024 to identify a property suitable for their retail concept. After evaluating opportunities throughout the Triangle for nearly two years, the team identified the Downtown Durham property and moved quickly to secure it under contract. During negotiations, Oak Street Commercial Real Estate achieved a 13.98% reduction from the original asking price, helping the client maximize value while satisfying the exchange deadline.
“The Triangle remains one of the most competitive commercial real estate markets in North Carolina,” said J. Dylan Cunningham, CCIM, Founder and Broker of Oak Street Commercial Real Estate. “Finding the right property often requires patience, discipline, and a willingness to wait for an opportunity that aligns with a client’s long-term strategy. This transaction demonstrates the value of staying focused on those objectives rather than simply completing a transaction.”
Downtown Durham continues to attract investors and business owners seeking properties that combine strong locations with flexible income-producing potential. Transactions such as this reflect continued demand for well-positioned mixed-use assets despite a competitive acquisition environment.
Transaction terms beyond the recorded sale price were not disclosed.
About Oak Street Commercial Real Estate
Oak Street Commercial Real Estate is a boutique commercial real estate brokerage headquartered in the Triangle, serving business owners, investors, developers, and property owners throughout North Carolina. The firm specializes in office, retail, industrial, medical, and mixed-use properties, providing strategic brokerage and advisory services focused on helping clients align their real estate decisions with long-term business and investment goals.
Media Contact:
J. Dylan Cunningham, CCIM
Founder & Broker
Oak Street Commercial Real Estate, LLC
