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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    102 City Hall Plz Durham, NC 27701

    • Commercial real estate
    • 26,043 SF
    • 0.42 lot acres
    For Lease
    View listing
    $26 SF/Yr
    Last Sale
    Dec 16, 2021
    $6,100,000
    Value Estimations
    $6,365,000
    Cap Rate Potential
    5.4%
    Commercial real estate
    Location Intelligence
    Property ID
    US53-5805228
    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

    • Intersouth Partners / Business Management Consultant
    • Bull City Learning / Training Center
    • Bull City Blue / Training Center

    Property Details for 102 City Hall Plz

    Year built
    1915
    Lot size
    0.42 lot acres
    Property size
    26,043 SF
    Zone code
    DD-C
    Property type
    Commercial real estate
    APN
    102950
    APU
    102950

    Description

    This exceptional executive office space, located at 102 City Hall Plaza in Durham, North Carolina, offers a total of 3,126 square feet of versatile commercial space. Currently entirely vacant, this property presents a unique opportunity for a single tenant to occupy the entire building. The building is classified as both retail and office space, making it suitable for a variety of businesses. Its "Executive Office" subtype suggests a high-quality finish and potentially desirable amenities, though specifics are not provided. The property is situated in Durham County, North Carolina, with a convenient Durham, NC 27701 zip code. The address, 102 City Hall Plaza, indicates a potentially prominent location within the city. Given the entire building's vacancy, this presents a blank canvas for a business seeking to establish a significant presence in Durham. The multiple tenancy designation suggests the building's infrastructure is capable of accommodating various configurations to suit a single tenant's needs. The property's size, at 3,126 square feet, offers ample room for a substantial operation. Interested parties are encouraged to investigate the potential of this fully vacant, high-profile Durham commercial property. Its location in Durham County, near the City Hall Plaza, suggests excellent visibility and accessibility. The property's classification as both retail and office space broadens its appeal to a wider range of potential tenants.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $6,555,000
      ML approach
      $6,190,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,860,000
      6.5%
      $5,410,000
      7%
      $5,025,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $6,884,000
      Market price range: $1.87M - $6.88M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $10,035,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $9,620,000
      Change: -4% Conversion: Moderate
      OFFICE BUILDING
      $8,900,000
      Change: -11% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Durham
    County
    Durham
    State
    North Carolina
    Longitude
    -78.8998
    Latitude
    35.9957
    CBSA code
    20500
    CBSA name
    DURHAM-CHAPEL HILL, NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $49,188
    $2,463,971
    $4,251,639
    $6,715,610
    -
    $2,463,971
    $4,251,639
    $6,715,610

    Comparable in this City

    • Value Estimation by Request
      2,767 SF

      115 Queen St

      Individual retail properties • 2,767 SF
      115 Queen St, Durham, NC 27701
      View Details
    • Value Estimation by Request
      0.06 Acres

      409 Willard St

      COMMERCIAL (GENERAL) • 0.06 Acres
      409 Willard St, Durham, NC 27701-4770
      View Details
    • Value Estimation by Request
      0.54 Acres

      304 Blackwell St

      COMMERCIAL (GENERAL) • 0.54 Acres
      304 Blackwell St, Durham, NC 27701
      View Details
    • Value Estimation
      $7,270,000
      31,965 SF

      101 Chapel Hl St

      COMMERCIAL (GENERAL) • 31,965 SF
      101 Chapel Hl St, Durham, NC 27701-3255
      View Details
    • Value Estimation
      $620,000
      3,136 SF

      117 Main St

      COMMERCIAL (GENERAL) • 3,136 SF
      117 Main St, Durham, NC 27701-2795
      View Details
    • Value Estimation by Request
      215,000 SF

      110 Corcoran St

      COMMON AREA (COMMERCIAL) • 215,000 SF
      110 Corcoran St, Durham, NC 27701-5015
      View Details

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    Similar Nearby for Lease

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    • $26 SF/Yr
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      Durham Executive Office Space

      Prime Durham Office, 3126 sq ft Available
      102 City Hall Plz, Durham, NC 27701
      View Details
    • Contact for pricing
      41,000 SF

      Downtown Durham Creative Office Space

      Historic Landmark, Abundant Parking, Flexible Suites
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    • $26 SF/Yr
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      Downtown Durham Historic Buildings

      Historic buildings in downtown Durham with retail and office spaces.
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      Downtown Durham Executive Office Suite

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    102 City Hall Plz
    Durham, NC 27701
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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.

    More about this property
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