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    Durham Land Prime Opportunity Title is generated by Realmo AI

    391 & 409 Southview Road, Durham, NC 27703

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    Claim this Listing
    Pending
    $750,000

    LAND - Durham, NC

    Lot size:
    23.48 Acres
    Added:
    Mar 19, 2025
    Days on Market:
    431
    Last Refresh:
    May 23 at 4:06 pm

    Property Features for 391 & 409 Southview Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    RR
    Vegetation
    Heavily Wooded
    Standard status
    Pending
    APN
    See Tax Cards
    Lot size
    23.48 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    Fletcher Family Subdivision/Lt#02 Pl000205-000315
    Tax Annual Amount
    2400

    Utilities

    Utilities
    Electricity Available
    Sewer type
    Septic Needed
    Water source
    Well Needed

    We can help!

    Listing Contact
    Julian Jahoo

    Listing agent Julian Jahoo License #248787

    Listing office LPT Realty, LLC 421 Fayetteville Street Ste 1100, Fayetteville, NC

    Listing date Mar 19, 2025

    MLS# 10083988 Listing URL

    Copyright © 2026 Doorify MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 23+ acre prime land opportunity in Durham, offering numerous development possibilities (horses, winery, retreat, investment).
    • Adjacent to Falls Village Golf Course and across the road from the Zinc House winery and brewery.
    • Excellent location: Just 11 miles from Research Triangle Park (RTP), and 13 miles from Raleigh‑Durham International Airport (RDU).
    • Bordered by The Triangle Land Conservancy, ensuring exceptional privacy.
    • Zoned RR (Rural Residential) and currently in the forestry program.
    • Opportunity to acquire an additional 62+ acres across the road, totaling 85+ acres.

    Overview

    This 23.48-acre parcel in Durham, North Carolina, presents a prime land opportunity. The property is zoned RR (Rural Residential) and is currently in the forestry program. It is conveniently located 11 miles from Research Triangle Park (RTP), 13 miles from Raleigh-Durham International Airport (RDU), and 14 miles from Crabtree Valley Mall. The land is situated across the road from the Zinc House, a winery and brewery set on over 37 acres, and is adjacent to Falls Village Golf Course, an 18-hole course. Bordered by The Triangle Land Conservancy, the property ensures exceptional privacy. The site offers possibilities for development, horses, a small winery, investment, or a private retreat. An additional 62+ acres are available directly across the road, bringing the total potential acreage to over 85 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Agricultural properties

    Suggested Use

    HVAC Service Bar & Pub Electrical Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Durham
    County
    Durham
    State
    North Carolina
    Longitude
    -78.751663
    Latitude
    35.990887

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    FAQs

    What type of property is this?
    Land - 23+ acres near winery, golf course, and Research Triangle Park.
    Where is this land located?
    The property is located at 391 & 409 Southview Road Durham, NC.
    What is the asking price?
    The asking price for this property is $750,000.
    What are key features of this property?
    This property features: 23+ acre prime land opportunity in Durham, offering numerous development possibilities (horses, winery, retreat, investment).; Adjacent to Falls Village Golf Course and across the road from the Zinc House winery and brewery.; Excellent location: Just 11 miles from Research Triangle Park (RTP), and 13 miles from Raleigh‑Durham International Airport (RDU).
    (919) 302-2403
    We can help!
    Listing Contact
    Julian Jahoo
    Real Estate License ID: 248787
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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