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Property profile & analytics
OFF-MARKET
Estimated value
$11,595,000
Warehouses
112 Seminary St Durham, NC 27701-3338
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-0918733
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2016
Total area
90,862 SF
Lot
0.8 ac (34,848 SF)
Zoning code
DD-S1
APN
104971
UPID
US53-0918733
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
$9.31M
CAP Approach
CAP
$13.58M
Comparable Approach
Comparable
$11.40M
Blend (final)
Blend
$11.60M
Owner & transaction history
Seminary Town Center Storage LP · 4 yrs held
Seminary Town Center Storage LP
since 2022
Last sale
$12.0M
7 recorded transactions
Zoning & alternative use
DD-S1 · Durham, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$15.8M
+16.6%
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 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
$10,980,000
ML approach
$9,310,000
CAP Approach
CAP Return
Estimation
6%
$14,710,000
6.5%
$13,575,000
7%
$12,605,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$13,555,000
Current use
INDUSTRIAL (GENERAL)
$15,800,000
Change: +17% · Conversion: Easy
Blend value · Realmo final
$11.60M
Range $10.44M – $12.75M · ±10% · vs last sale $12.00M (May 5 2022)
Last sale anchor
$12.00M
May 5 2022
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
$128 / 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
$93,035
Tax year 2024
Assessed value
$6,350,960
Assessed 2024
Previous assessed
$6,350,960
+0.0% YoY
Effective rate
1.46%
On assessed value
Assessed land
$1,397,404
Assessed improvement
$4,953,556
Land market value
$1,397,404
Improvement market value
$4,953,556
Total market value
$6,350,960
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2016
Heating
YES
Cooling
YES
Stories
4
Total area
90,862 SF
Lot
0.8 ac (34,848 SF)
Zoning code
DD-S1
APN
104971
UPID
US53-0918733
Jurisdiction
DURHAM
Zoning & alternative use
DD-S1 · Durham, NC
Zoning DD-S1 · permitted uses
DD-S1 · 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
WAREHOUSE, STORAGE Current
Est. value
$13.6M
INDUSTRIAL (GENERAL)
Est. value
$15.8M
WAREHOUSE, STORAGE Current
INDUSTRIAL (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
2016
Heating
YES
Cooling
Yes
Stories
4
Lot
0.8 ac
Current owner
From public records · entity-resolved
Seminary Town Center Storage LP
Entity
Free & Clear · 4 yrs held
Mailing address
2100 ROSS AVE #5200, DALLAS, TX 75201-2739
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 5, 2022
$12,000,000
Seminary Town Center Storage LP
Lsf I Durham Seminary LLC
Special Warranty Deed
—
Jun 24, 2020
$10,300,000
Lsf I Durham Seminary LLC
Seminary Storage LLC
Grant Deed
—
Jun 24, 2020
—
Lsf I Durham Seminary LLC
Seminary Storage LLC
Quit Claim Deed
related
$6,695,000 · Skymar Cap
Jun 1, 2015
—
Seminary Storage LLC
Seminary Avenue Redux LLC
Quit Claim Deed
related
$5,288,477 · Branch Bk&tr
Jun 1, 2015
$1,150,000
Seminary Storage LLC
Seminary Avenue Redux LLC
Warranty Deed
—
Aug 9, 2012
$525,000
Seminary Avenue Redux LLC
Center Investment Corp
Warranty Deed
$446,250 · Center Investment Corp
Nov 29, 2011
—
Center Investment Corp
D & W Investment Corp
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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