Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Property profile & analytics

    3000 State St Durham, NC 27704

    • Commercial real estate
    • 0.47 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1000924
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 3000 State St

    Lot size
    0.47 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 0.47-acre wooded lot presents a unique opportunity for development in Durham, NC. Located at 3000 State St., Durham, NC 27704, this property offers a tranquil setting nestled behind 306 Delafield St. Surrounded by natural greenery, it provides a blank canvas for future residential construction. The lot's size allows for considerable flexibility in design and development. Its convenient location offers easy access to downtown Durham, renowned universities, a variety of local amenities, and major transportation routes. Prospective buyers are encouraged to conduct thorough due diligence, including a review of access options, to fully explore the potential of this property. The asking price for this remarkable land parcel is $39,950. This represents a compelling investment opportunity in a thriving and desirable area. Don't miss the chance to build your dream home in this idyllic setting. The property is situated in Durham County, North Carolina, and its coordinates are 36.030057 latitude and -78.888575 longitude.

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Durham
    County
    Durham
    State
    North Carolina
    Longitude
    -78.888575
    Latitude
    36.030057

    Comparable in this City

    • $1,777,500
      11.85 Acres

      North Durham Development Land

      11.85 Acres, High-Density Potential
      1502 Old Oxford Rd, Durham, NC 27704
      View Details
    • $220,000
      1,011 SF

      Updated Home on Large Lot

      Two-bedroom home with updates, large lot, convenient location.
      1821 E Geer St, Durham, NC 27704
      View Details
    • $249,880
      1,309 SF

      Independence Park Townhome with Upgrades

      Townhome in Villages of Independence Park with modern features.
      882 Saratoga Dr, Durham, NC 27704
      View Details
    • $99,900
      1.41 Acres

      Durham Land Near Falls Lake

      1.41 acres of wooded land zoned for residential use.
      4300-4304 Cheek Rd, Durham, NC 27704
      View Details
    • $65,000
      69 SF

      Durham County Land For Sale

      69.34 acres of land in eastern Durham County.
      4802 Cheek Rd, Durham, NC 27704
      View Details
    • New
      $119,000
      0.13 Acres

      Buildable Lot in Colonial Village

      Rare infill lot in desirable Durham neighborhood.
      611 E Lavender Ave, Durham, NC 27704
      View Details

    Similar Nearby for Sale

    • $1,777,500
      11.85 Acres

      North Durham Development Land

      11.85 Acres, High-Density Potential
      1502 Old Oxford Rd, Durham, NC 27704
      View Details
    • $220,000
      1,011 SF

      Updated Home on Large Lot

      Two-bedroom home with updates, large lot, convenient location.
      1821 E Geer St, Durham, NC 27704
      View Details
    • $249,880
      1,309 SF

      Independence Park Townhome with Upgrades

      Townhome in Villages of Independence Park with modern features.
      882 Saratoga Dr, Durham, NC 27704
      View Details
    • $99,900
      1.41 Acres

      Durham Land Near Falls Lake

      1.41 acres of wooded land zoned for residential use.
      4300-4304 Cheek Rd, Durham, NC 27704
      View Details
    • $65,000
      69 SF

      Durham County Land For Sale

      69.34 acres of land in eastern Durham County.
      4802 Cheek Rd, Durham, NC 27704
      View Details
    • New
      $119,000
      0.13 Acres

      Buildable Lot in Colonial Village

      Rare infill lot in desirable Durham neighborhood.
      611 E Lavender Ave, Durham, NC 27704
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Durham Industrial Land - 0.94 Acres

      Prime Durham location, ideal for commercial/industrial development.
      2305 Club Blvd, Durham, NC 27704
      View Details
    • Contact for pricing
      41,558 SF

      Durham Medical Office Condos for Lease

      Modern medical suites, North Durham, NC
      4020 Roxboro St, Durham, NC 27704
      View Details
    • Contact for pricing
      392,000 SF

      Welcome Venture Park: Durham, NC

      Large Industrial/Office Space Available
      1539 Hamlin Rd, Durham, NC 27704
      View Details
    • $18 SF/Yr
      Pending

      Prime Medical Office Space Available

      Versatile medical/office space in Durham's thriving North Duke corridor.
      2609 N Duke St Unit Bldg 300, Durham, NC 27704
      View Details
    • $23 SF/Yr
      79,440 SF

      Class A Office Space

      Class A office space for lease in North Durham.
      4321 Medical Park Dr, Durham, NC 27704
      View Details
    • $7 SF/Yr
      55,516 SF

      Durham Industrial Space For Lease

      Industrial spaces available for lease in north Durham near I-85.
      1500 E Club Blvd, Durham, NC 27704
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3000 State St
    Durham, NC 27704
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    Alternative use

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

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.