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Property profile & analytics
OFF-MARKET
Estimated value
$24,020,000
Hotels
1500 Rdu Ctr Dr, Morrisville, NC 27560-8278
Entity Owned
4-yr Hold
Free & Clear
Property ID
US53-0745889
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1997
Total area
83,606 SF
Lot
5.75 ac (250,470 SF)
Zoning code
ORD
APN
0766.03-04-4874 0237200
UPID
US53-0745889
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
$24.87M
Blend (final)
Blend
$24.02M
Owner & transaction history
Kre Hip Garden Rdu Owner LLC · 4 yrs held
Kre Hip Garden Rdu Owner LLC
since 2021
Last sale
$25.4M
7 recorded transactions
Zoning & alternative use
ORD · Morrisville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$38.6M
+121.1%
Auto repair, garage
$35.3M
+102.1%
Medical building
$28.8M
+64.8%
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
$32,975,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$17,475,000
Current use
RETAIL STORES
$38,630,000
Change: +121% · Conversion: Difficult
AUTO REPAIR, GARAGE
$35,320,000
Change: +102% · Conversion: Difficult
MEDICAL BUILDING
$28,800,000
Change: +65% · Conversion: Difficult
Blend value · Realmo final
$24.02M
Range $21.62M – $26.42M · ±10% · vs last sale $25.45M (Nov 2 2021)
Last sale anchor
$25.45M
Nov 2 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
$287 / 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
$241,527
Tax year 2023
Assessed value
$24,104,449
Assessed 2023
Previous assessed
$24,104,449
+0.0% YoY
Effective rate
1.00%
On assessed value
Assessed land
$4,007,520
Assessed improvement
$20,096,929
Land market value
$4,007,520
Improvement market value
$20,096,929
Total market value
$24,104,449
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1997
Heating
CENTRAL
Cooling
CENTRAL
Stories
5
Units
155
Total area
83,606 SF
Lot
5.75 ac (250,470 SF)
Zoning code
ORD
APN
0766.03-04-4874 0237200
UPID
US53-0745889
Jurisdiction
WAKE
Zoning & alternative use
ORD · Morrisville, NC
Zoning ORD · permitted uses
ORD · 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
HOTEL/MOTEL Current
Est. value
$17.5M
RETAIL STORES
Est. value
$38.6M
AUTO REPAIR, GARAGE
Est. value
$35.3M
MEDICAL BUILDING
Est. value
$28.8M
HOTEL/MOTEL 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
1997
Heating
CENTRAL
Cooling
Yes
Stories
5
Units
155
Lot
5.75 ac
Current owner
From public records · entity-resolved
Kre Hip Garden Rdu Owner LLC
Entity
Free & Clear · 4 yrs held
Mailing address
30 HUDSON YARDS AVEA, NEW YORK, NY 10001-2170
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
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 2, 2021
$25,447,000
Kre Hip Garden Rdu Owner LLC
Ihp Morrisville Owner LLC
Special Warranty Deed
—
Sep 28, 2021
—
Kre Hip Garden Rdu Owner LLC
Ihp Morrisville Owner LLC
Special Warranty Deed
—
Apr 16, 2021
—
Sba Structures LLC
—
Loan Modification
related
—
Jun 30, 2020
—
Sba Structures LLC
—
Deed
related
$3,170,000 · Deutsche Bk Tr Co Americas
Jun 23, 2017
—
Ihp Morrisville Nc Owner LLC
—
Grant Deed
related
$780,000,000 · Column Fin'l
Dec 1, 2014
$24,013,500
Ihp Morrisville Nc Owner LLC
Ia Winston Hotels Morrisville
Grant Deed
related
$615,000,000 · Bank Of America
Jan 29, 2013
—
Ia Winston Hotels Morrisville
—
Deed Of Trust
related
$8,000,000 · Bank Of The Ozarks
Apr 27, 2011
—
Ia Winston Hotels Morrisville
—
Deed Of Trust
related
$8,000,000 · Bank Of The Ozarks
Feb 17, 2010
—
Ia Winston Hotels Morrisville
—
Deed Of Trust
related
$8,000,000 · Bank Of The Ozarks
Dec 31, 2009
$12,051,000
Ia Winston Hotels Morrisville
Winston Spe II LLC
Grant Deed
related
$8,000,000 · Bank Of The Ozarks
Nov 10, 2005
—
Winston Spe II LLC
—
Deed Of Trust
related
$215,000,000 · General Electric Capital Corp
Mar 17, 2005
—
Winston Spe II LLC
Winn
Grant Deed
related
—
—
—
Sba Structures LLC
—
Loan Modification
related
$3,170,000 · Deutsche Bk Tr Co Americas
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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