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Property profile & analytics
OFF-MARKET
Garden apartment buildings
1000 Sweet Spot Cir, Morrisville, NC 27560
Entity Owned
1-yr Hold
Free & Clear
Property ID
US53-1165253
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1999
Construction
FRAME
Total area
18,862 SF
Lot
32.11 ac (1,398,712 SF)
Zoning code
HDR
APN
0745.20-91-0283 0240185
UPID
US53-1165253
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Magnolia Preston View Tic LLC · 1 yrs held
Magnolia Preston View Tic LLC
since 2025
Last sale
$124.3M
7 recorded transactions
Zoning & alternative use
HDR · Morrisville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Morrisville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morrisville submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$599,233
Tax year 2023
Assessed value
$55,476,868
Assessed 2023
Previous assessed
$55,476,868
+0.0% YoY
Effective rate
1.08%
On assessed value
Assessed land
$11,494,380
Assessed improvement
$43,982,488
Land market value
$11,494,380
Improvement market value
$43,982,488
Total market value
$55,476,868
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1999
Construction
FRAME
Heating
CENTRAL
Cooling
CENTRAL
Stories
3
Units
22
Rooms
1342
Total area
18,862 SF
Lot
32.11 ac (1,398,712 SF)
Zoning code
HDR
APN
0745.20-91-0283 0240185
UPID
US53-1165253
Jurisdiction
WAKE
Zoning & alternative use
HDR · Morrisville, NC
Zoning HDR · permitted uses
HDR · Morrisville, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Morrisville. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1999
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
3
Units
22
Rooms
1342
Lot
32.11 ac
Current owner
From public records · entity-resolved
Magnolia Preston View Tic LLC
Entity
Free & Clear · 1 yrs held
Mailing address
1 N WACKER DR STE #2400, CHICAGO, IL 60606-2866
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 3, 2025
$48,539,000
Magnolia Preston View Tic LLC
Magnolia Preston View LP
Special Warranty Deed
—
Jun 10, 2022
$124,250,000
Magnolia Preston View LP
1000 Sc Owner LLC
Special Warranty Deed
—
Dec 18, 2020
$78,750,000
1000 Sc Owner LLC
Topaz Preston View Owner L Kre
Grant Deed
$47,160,000 · Cbre Multifamily Cap
Jul 18, 2019
$64,000,000
Preston View Owner LLC
Br Preston View LLC
Grant Deed
related
—
Aug 1, 2018
—
Br Preston View LLC
—
Deed
related
—
Feb 20, 2017
$59,500,000
Br Preston View LLC
Bell Fund IV Morrisville Apts
Grant Deed
$41,066,000 · Berkeley Point Cap
Feb 20, 2017
—
Br Preston View LLC
Bell Fund IV Morrisville Apts
Quit Claim Deed
related
—
Jan 30, 2013
$40,300,000
Fund Apart Bell IV
Bes Preston Fund Vii LLC
Grant Deed
related
$27,492,000 · Private Lender
Jan 6, 2010
$29,500,000
Bes Preston Fund Vii LLC
Erp Operating LP
Grant Deed
related
$19,175,000 · Amerisphere Multifamily Fin'l
Apr 12, 2004
—
Eqr-fankey 2004 Pool
Erp Operating
Grant Deed
$220,000 · Keycorp R E Capital Marketing
Mar 23, 2001
$30,200,000
Erp Operating Limited Part
Erp Operating Li
Grant Deed
related
—
—
—
Br Preston View LLC
—
Loan Modification
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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