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Property profile & analytics
OFF-MARKET
Garden apartment buildings
1108 Merrion Ave Durham, NC 27703-0479
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-2395624
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
2019
Total area
15,308 SF
Lot
3.56 ac (155,074 SF)
Zoning code
OI(D)
APN
224209
UPID
US53-2395624
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
1108 Merrion Ave LLC · 2 yrs held
1108 Merrion Ave LLC
since 2023
Last sale
$30.2M
2 recorded transactions
Zoning & alternative use
OI(D) · Durham, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The OI District is established for employment and community service activities. Some support facilities and residential uses are also allowed when compatible with surrounding uses. The OI district is designed for use on sites that have convenient access to arterials, sincedevelopmentof moderate to high intensity is allowed.
Zone name
Office And Institutional
General category
CIVIC_INSTITUTIONAL
Zone area
951.01 ac
Source
Realmo
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
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 2024Property tax & assessments
Tax year 2024
Tax billed
$230,931
Tax year 2024
Assessed value
$16,555,398
Assessed 2024
Previous assessed
$16,555,398
+0.0% YoY
Effective rate
1.39%
On assessed value
Assessed land
$569,750
Assessed improvement
$15,985,648
Land market value
$569,750
Improvement market value
$15,985,648
Total market value
$16,555,398
Applied tax rate
175.0000
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
2019
Heating
YES
Cooling
YES
Stories
4
Total area
15,308 SF
Lot
3.56 ac (155,074 SF)
Zoning code
OI(D)
APN
224209
UPID
US53-2395624
Jurisdiction
DURHAM
Zoning & alternative use
OI(D) · Durham, NCZoning OI(D) · permitted uses
OI(D) · Durham, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The OI District is established for employment and community service activities. Some support facilities and residential uses are also allowed when compatible with surrounding uses. The OI district is designed for use on sites that have convenient access to arterials, sincedevelopmentof moderate to high intensity is allowed.
Zone name
Office And Institutional
General category
CIVIC_INSTITUTIONAL
Zone area
951.01 ac
Source
Realmo
Building & site characteristics
From public records
Year built
2019
Heating
YES
Cooling
Yes
Stories
4
Lot
3.56 ac
Current owner
From public records · entity-resolved
1108 Merrion Ave LLC
Entity
Mailing address
4582 S ULSTER ST STE #1700, DENVER, CO 80237-2641
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 20, 2023
$70,000,000
1108 Merrion Ave LLC
B9 Brizo Owner LLC
Special Warranty Deed
$41,026,000 · Pnc Bank NA
Feb 7, 2020
$56,160,000
B9 Brizo Owner LLC
Dd Davis Park LLC
Grant 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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