**Durham-Area Topgolf Land Listed for $38.18M Despite Long-Term Lease**
Despite being the site of a newly opened Topgolf venue in Durham, a 46-acre property has been listed for sale with a price tag of $38.18 million. Topgolf, which opened in 2024, features 102 hitting bays, 200 televisions, a full restaurant, and dedicated event space.
The current owner, RealtyLink, purchased the property in 2019 for $7.5 million and has since watched as the area’s development value has increased significantly.
According to the Triangle Business Journal, Topgolf signed a 20-year lease and is required to pay $2.577 million in rent annually for the first five years—equivalent to about $215,000 per month. The rental amount is set to increase every five years over the lease term. The investment offering carries a cap rate of 6.75%.
Public documents show that the Topgolf facility occupies 12.33 acres of the total site and has an appraised value of $15.9 million, encompassing approximately 31,035 square feet of gross leasable area.
The property is being marketed by Atlantic Capital Partners, with David Hoppe, Eric Suffoletto, Mike Lucier, and Danny Griffin serving as the listing agents.
