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Property profile & analytics
OFF-MARKET
Estimated value
$2,235,000
Specialty properties
1005 Lichtin Blvd, Morrisville, NC 27560-8314
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US53-2783934
Property profile
Verified
Property type
Specialty properties
Use group
VETERINARY, ANIMAL HOSPITAL
Year built
2018
Construction
BRICK
Total area
7,483 SF
Lot
3.88 ac (169,013 SF)
Zoning code
RAC
APN
0746.02-67-9848 0380262
UPID
US53-2783934
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
$2.26M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.24M
Owner & transaction history
Shore Capital Re Partners Holdco Ll · 2 yrs held
Shore Capital Re Partners Holdco Ll
since 2023
Last sale
$2.2M
7 recorded transactions
Zoning & alternative use
RAC · Morrisville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$2.5M
+250.6%
Commercial (general)
$1.6M
+130.2%
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
Method
Estimation
Statistic approach
$2,300,000
ML approach
$2,255,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$2,455,000
Change: +251% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,615,000
Change: +130% · Conversion: Difficult
Blend value · Realmo final
$2.24M
Range $2.01M – $2.46M · ±10% · vs last sale $2.23M (Aug 30 2023)
Last sale anchor
$2.23M
Aug 30 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$299 / SF
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
$22,519
Tax year 2023
Assessed value
$2,150,793
Assessed 2023
Previous assessed
$2,150,793
+0.0% YoY
Effective rate
1.05%
On assessed value
Assessed land
$543,730
Assessed improvement
$1,607,063
Land market value
$543,730
Improvement market value
$1,607,063
Total market value
$2,150,793
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
Specialty properties
Use group
VETERINARY, ANIMAL HOSPITAL
Status
Off-Market
Year built
2018
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
7,483 SF
Lot
3.88 ac (169,013 SF)
Zoning code
RAC
APN
0746.02-67-9848 0380262
UPID
US53-2783934
Jurisdiction
WAKE
Zoning & alternative use
RAC · Morrisville, NC
Zoning RAC · permitted uses
RAC · 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.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.5M
COMMERCIAL (GENERAL)
Est. value
$1.6M
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2018
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
3.88 ac
Current owner
From public records · entity-resolved
Shore Capital Re Partners Holdco Ll
Entity
Mailing address
1 E WACKER DR STE #2900, CHICAGO, IL 60601-2026
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 30, 2023
$2,225,000
Shore Capital Re Partners Holdco Ll
Horizon Property LLC
Special Warranty Deed
—
Dec 11, 2019
—
Horizon Property LLC
—
Deed
related
$1,936,000 · Bank Of America
Nov 9, 2018
—
Horizon Property LLC
—
Deed
related
$141,000 · First Bk
May 31, 2017
—
Horizon Property LLC
—
Deed
related
$1,998,500 · First Bk
Jun 5, 2013
$270,000
Horizon Property LLC
Culinary Partners II LLC
Grant Deed
$229,500 · New Century Bank
—
—
Horizon Property LLC
—
Deed Of Trust
related
$141,000 · First Bk
—
—
Horizon Property LLC
—
Deed Of Trust
related
$213,500 · First Citizens Bk
—
—
Horizon Property LLC
—
Deed Of Trust
related
$1,998,500 · First Bk
—
—
Horizon Property LLC
—
Deed Of Trust
related
$1,936,000 · Bank Of America
—
—
Horizon Property LLC
—
Deed Of Trust
related
$381,500 · First Bk
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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