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Property profile & analytics
OFF-MARKET
Estimated value
$1,205,000
Manufacturing properties
1008 Ellis Rd Durham, NC 27703-6023
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-0992871
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1974
Total area
5,000 SF
Lot
6.15 ac (267,894 SF)
Zoning code
I
APN
156572
UPID
US53-0992871
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
$1.02M
Comparable Approach
Comparable
$1.42M
Blend (final)
Blend
$1.21M
Owner & transaction history
Southstar LLC · 2 yrs held
Southstar LLC
since 2024
2 recorded transactions
Zoning & alternative use
I · Durham, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.5M
+67.7%
Apartment house (5+ units)
$1.3M
+53.4%
Retail stores
$1.2M
+41.3%
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 Durham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Durham 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,100,000
6.5%
$1,015,000
7%
$945,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$870,000
Current use
AUTO REPAIR, GARAGE
$1,460,000
Change: +68% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,335,000
Change: +53% · Conversion: Difficult
RETAIL STORES
$1,230,000
Change: +41% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,215,000
Change: +40% · Conversion: Difficult
OFFICE BUILDING
$1,140,000
Change: +31% · Conversion: Difficult
WAREHOUSE, STORAGE
$745,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$1.21M
Range $1.08M – $1.33M · ±10%
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
$241 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$8,216
Tax year 2024
Assessed value
$588,978
Assessed 2024
Previous assessed
$588,978
+0.0% YoY
Effective rate
1.39%
On assessed value
Assessed land
$454,412
Assessed improvement
$134,566
Land market value
$454,412
Improvement market value
$134,566
Total market value
$588,978
Applied tax rate
1.0000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1974
Heating
SPACE
Cooling
YES
Stories
1
Total area
5,000 SF
Lot
6.15 ac (267,894 SF)
Zoning code
I
APN
156572
UPID
US53-0992871
Jurisdiction
DURHAM
Zoning & alternative use
I · Durham, NC
Zoning I · permitted uses
I · Durham, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Durham. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$870,000
AUTO REPAIR, GARAGE
Est. value
$1.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.3M
RETAIL STORES
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$745,000
INDUSTRIAL (GENERAL) Current
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
COMMERCIAL (GENERAL)
OFFICE BUILDING
WAREHOUSE, STORAGE
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
1974
Heating
SPACE
Cooling
Yes
Stories
1
Lot
6.15 ac
Current owner
From public records · entity-resolved
Southstar LLC
Entity
Free & Clear · 2 yrs held
Mailing address
7 SAINT PAUL ST STE #1500, BALTIMORE, MD 21202-1636
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 3, 2024
—
Southstar LLC
—
Deed
related
$10,104 · Truist Bank
Jul 1, 2024
—
Southstar LLC
Chandler Concrete Co LLC
Warranty Deed
—
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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