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Property profile & analytics
OFF-MARKET
Estimated value
$26,755,000
Industrial properties
14 Tw Alexander Dr Durham, NC 27703-7028
Entity Owned
Free & Clear
Property ID
US53-2381710
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1984
Total area
270,051 SF
Lot
44.97 ac (1,958,893 SF)
Zoning code
SRP
APN
157251
UPID
US53-2381710
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
-
Parmer 14 Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$29.81M
Blend (final)
Blend
$26.76M
Owner & transaction history
Novartis Gene Therapies INC
Novartis Gene Therapies INC
since 2025
7 recorded transactions
Zoning & alternative use
SRP · Durham, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$40,285,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$26.76M
Range $24.08M – $29.43M · ±10%
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
$99 / 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
$118,197
Tax year 2024
Assessed value
$10,664,035
Assessed 2024
Previous assessed
$10,664,035
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$3,314,426
Assessed improvement
$7,349,609
Land market value
$3,314,426
Improvement market value
$7,349,609
Total market value
$10,664,035
Applied tax rate
26.0000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1984
Heating
YES
Cooling
YES
Stories
2
Total area
270,051 SF
Lot
44.97 ac (1,958,893 SF)
Zoning code
SRP
APN
157251
UPID
US53-2381710
Jurisdiction
DURHAM
Zoning & alternative use
SRP · Durham, NC
Zoning SRP · permitted uses
SRP · 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
Est. value
$40.3M
WAREHOUSE, STORAGE
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
1984
Heating
YES
Cooling
Yes
Stories
2
Lot
44.97 ac
Current owner
From public records · entity-resolved
Novartis Gene Therapies INC
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 847, CARLSBAD, CA 92018-0847
Ownership since
2025
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
Nov 24, 2025
—
Novartis Gene Therapies INC
Are Nc Region No 21 LLC
Special Warranty Deed
—
Aug 24, 2020
$28,662,000
Are-nc Region No 21 Holding Ll
Parmer Rtp LLC
Grant Deed
$36,000,000 · Are-nc Region No 21 LLC
Aug 24, 2020
—
Are-nc Region No 21 Holding Ll
Parmer Rtp LLC
Grant Deed
—
Feb 19, 2019
—
Parmer Rtp LLC
—
Loan Modification
related
$150,000,000 · Deutsche Bk Ag/ny Branch
Nov 16, 2017
$6,500,000
Parmer Rtp LLC
E I Du Pont De Nemours & Co
Grant Deed
—
Nov 16, 2017
—
Parmer Rtp LLC
E I Du Pont De Nemours & Co
Grant Deed
—
Aug 28, 2003
—
Ei Du Pont De Nemours & Co
Dupont,de Nemour
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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