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Property profile & analytics
OFF-MARKET
Estimated value
$11,950,000
Super regional malls
121 Sherron Rd Durham, NC 27703-9515
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-0972359
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
2003
Total area
61,242 SF
Lot
8.59 ac (374,180 SF)
Zoning code
CC(D)
APN
197972
UPID
US53-0972359
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
Current use
Occupant on record · Public records
-
Ravenstone Business Center Business Service Center Corporate Office
-
Open Wide Family Dentistry Dental Office
-
Coinstar Kiosk | Bitcoin ATM Atm Currency Exchange Service
-
CoinFlip Bitcoin ATM Atm Currency Exchange Service
-
JMA Taekwondo Training Center Sports School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.91M
CAP Approach
CAP
$13.88M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$11.95M
Owner & transaction history
Aric Durham LLC · 4 yrs held
Aric Durham LLC
since 2021
Last sale
$11.7M
4 recorded transactions
Zoning & alternative use
CC(D) · Durham, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$12.3M
+1,129.3%
Restaurant
$11.6M
+1,065.1%
Industrial (general)
$7.6M
+662.6%
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
$12,575,000
ML approach
$9,910,000
CAP Approach
CAP Return
Estimation
6%
$15,030,000
6.5%
$13,875,000
7%
$12,885,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$12,265,000
Change: +1,129% · Conversion: Easy
RESTAURANT
$11,625,000
Change: +1,065% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$7,610,000
Change: +663% · Conversion: Difficult
OFFICE BUILDING
$7,245,000
Change: +626% · Conversion: Moderate
Blend value · Realmo final
$11.95M
Range $10.76M – $13.15M · ±10% · vs last sale $11.70M (Oct 14 2021)
Last sale anchor
$11.70M
Oct 14 2021
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
$195 / 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
$132,660
Tax year 2024
Assessed value
$9,510,347
Assessed 2024
Previous assessed
$9,510,347
+0.0% YoY
Effective rate
1.39%
On assessed value
Assessed land
$1,437,900
Assessed improvement
$8,072,447
Land market value
$1,437,900
Improvement market value
$8,072,447
Total market value
$9,510,347
Applied tax rate
94.0000
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
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
Off-Market
Year built
2003
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
61,242 SF
Lot
8.59 ac (374,180 SF)
Zoning code
CC(D)
APN
197972
UPID
US53-0972359
Jurisdiction
DURHAM
Zoning & alternative use
CC(D) · Durham, NC
Zoning CC(D) · permitted uses
CC(D) · 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
COMMERCIAL (GENERAL)
Est. value
$12.3M
RESTAURANT
Est. value
$11.6M
INDUSTRIAL (GENERAL)
Est. value
$7.6M
OFFICE BUILDING
Est. value
$7.2M
COMMERCIAL (GENERAL)
RESTAURANT
INDUSTRIAL (GENERAL)
OFFICE 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
2003
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
8.59 ac
Current owner
From public records · entity-resolved
Aric Durham LLC
Entity
Free & Clear · 4 yrs held
Mailing address
610 E MOREHEAD ST STE #100, CHARLOTTE, NC 28202-2699
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
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
Oct 14, 2021
$11,700,000
Aric Durham LLC
Rcc Ravenstone Commons LLC
Special Warranty Deed
—
Oct 14, 2021
—
Aric Durham LLC
Rcc Ravenstone Commons LLC
Quit Claim Deed
related
—
Aug 16, 2013
$9,700,000
Rcc Ravenstone Commons LLC
Wri Ravenstone LLC
Grant Deed
$6,300,000 · Aviva Life & Annuity Co
Mar 30, 2005
$10,950,000
Wri Ravenstone LLC
Ravenstone Commons-durham LLC
Grant 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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