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Property profile & analytics
OFF-MARKET
Estimated value
$58,855,000
Office buildings
1025 Think Pl, Morrisville, NC 27560-9019
Entity Owned
5-yr Hold
Free & Clear
Property ID
US53-1776281
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
2006
Total area
189,810 SF
Lot
14.87 ac (647,737 SF)
Zoning code
OI
APN
0746.02-86-5982 0028557
UPID
US53-1776281
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
$54.79M
Comparable Approach
Comparable
$51.43M
Blend (final)
Blend
$58.86M
Owner & transaction history
Paramount Office LP · 5 yrs held
Paramount Office LP
since 2020
Last sale
$64.6M
4 recorded transactions
Zoning & alternative use
OI · Morrisville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$87.7M
+116.8%
Auto repair, garage
$80.2M
+98.2%
Medical building
$65.4M
+61.6%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$59,350,000
6.5%
$54,785,000
7%
$50,870,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$40,455,000
Current use
RETAIL STORES
$87,705,000
Change: +117% · Conversion: Moderate
AUTO REPAIR, GARAGE
$80,185,000
Change: +98% · Conversion: Difficult
MEDICAL BUILDING
$65,390,000
Change: +62% · Conversion: Easy
Blend value · Realmo final
$58.86M
Range $52.97M – $64.74M · ±10% · vs last sale $64.60M (Sep 4 2020)
Last sale anchor
$64.60M
Sep 4 2020
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
$310 / 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
$452,029
Tax year 2023
Assessed value
$42,548,178
Assessed 2023
Previous assessed
$42,548,178
+0.0% YoY
Effective rate
1.06%
On assessed value
Assessed land
$4,586,763
Assessed improvement
$37,961,415
Land market value
$4,586,763
Improvement market value
$37,961,415
Total market value
$42,548,178
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
2006
Heating
CENTRAL
Cooling
CENTRAL
Stories
5
Total area
189,810 SF
Lot
14.87 ac (647,737 SF)
Zoning code
OI
APN
0746.02-86-5982 0028557
UPID
US53-1776281
Jurisdiction
WAKE
Zoning & alternative use
OI · Morrisville, NC
Zoning OI · permitted uses
OI · 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
OFFICE BUILDING Current
Est. value
$40.5M
RETAIL STORES
Est. value
$87.7M
AUTO REPAIR, GARAGE
Est. value
$80.2M
MEDICAL BUILDING
Est. value
$65.4M
OFFICE BUILDING Current
RETAIL STORES
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
2006
Heating
CENTRAL
Cooling
Yes
Stories
5
Lot
14.87 ac
Current owner
From public records · entity-resolved
Paramount Office LP
Entity
Free & Clear · 5 yrs held
Mailing address
5 BRYANT PARK FL #28, NEW YORK, NY 10018-8204
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 4, 2020
$64,600,000
Paramount Office LP
Lenovo Bts Svt II
Grant Deed
—
Mar 13, 2018
—
Svt Lenovo Bts II LP
—
Grant Deed
related
$667,640,000 · Morgan Stanley Bk
Apr 14, 2015
$40,000,000
Svt Lenovo Bts II LP
Duke Realty Of Indiana LP
Grant Deed
—
Dec 30, 2005
$134,500
Duke Realty Of Indiana
Duke Construction
Warranty Deed
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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