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Property profile & analytics
OFF-MARKET
Estimated value
$8,495,000
Grocery and convenience stores
1501 Horton Rd Durham, NC 27705-2005
Entity Owned
17-yr Hold
Free & Clear
Property ID
US53-1895200
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
2008
Total area
48,270 SF
Lot
6.11 ac (266,152 SF)
Zoning code
CC
APN
173222
UPID
US53-1895200
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
-
Redbox Cinema (Bike/Boat/Book/etc) Store
-
Harris Teeter Pharmacy Pharmacy
-
Michael T. Toy, PharmD Pharmacy
-
Coinstar Kiosk | Bitcoin ATM Atm Currency Exchange Service
-
Harris Teeter Grocery & Convenience Store Food Market
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$8.56M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.50M
Owner & transaction history
Cole Ht Durham Nc LLC · 17 yrs held
Cole Ht Durham Nc LLC
since 2009
3 recorded transactions
Zoning & alternative use
CC · Durham, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The CC District is established to provide for orderlydevelopmentof commercial services in a unified setting on largeparcelsof land (generally over ten acres in size to serve residential neighborhoods within a three to five-mile radius of the site). It is the intent of this district to encourage a concentration of commercial activities surrounding a node such…
Zone name
Commercial Center
General category
COMMERCIAL
Zone area
552.26 ac
Source
Realmo
Top alternative use upside
Auto repair, garage
$14.1M
+18.7%
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%
$9,275,000
6.5%
$8,560,000
7%
$7,950,000
Alternative Use
Use
Estimation
RETAIL STORES
$11,865,000
Current use
AUTO REPAIR, GARAGE
$14,075,000
Change: +19% · Conversion: Difficult
COMMERCIAL (GENERAL)
$11,620,000
Change: -2% · Conversion: Easy
Blend value · Realmo final
$8.50M
Range $7.65M – $9.34M · ±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
$176 / 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
$110,193
Tax year 2023
Assessed value
$7,899,737
Assessed 2024
Previous assessed
$7,899,737
+0.0% YoY
Effective rate
1.39%
On assessed value
Assessed land
$1,777,500
Assessed improvement
$6,122,237
Land market value
$1,777,500
Improvement market value
$6,122,237
Total market value
$7,899,737
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
2008
Heating
YES
Cooling
YES
Stories
1
Total area
48,270 SF
Lot
6.11 ac (266,152 SF)
Zoning code
CC
APN
173222
UPID
US53-1895200
Jurisdiction
DURHAM
Zoning & alternative use
CC · Durham, NCZoning CC · permitted uses
CC · Durham, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The CC District is established to provide for orderlydevelopmentof commercial services in a unified setting on largeparcelsof land (generally over ten acres in size to serve residential neighborhoods within a three to five-mile radius of the site). It is the intent of this district to encourage a concentration of commercial activities surrounding a node such as the intersection of two arterials with an overall design scheme, rather thanstrip commercialareas. The district is intended to provide a wide range of retail and service activities that serve many neighborhoods. Residential uses generally are not appropriate in the CC District.Developmentin the CC district should provide safe pedestrian access toadjacentresidential areas. The CC District is designed for use on sites at major intersections that are capable of handling the proposed traffic. The CC District should not be located where primary access is from any connector-level street.
Zone name
Commercial Center
General category
COMMERCIAL
Zone area
552.26 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$11.9M
AUTO REPAIR, GARAGE
Est. value
$14.1M
COMMERCIAL (GENERAL)
Est. value
$11.6M
RETAIL STORES Current
AUTO REPAIR, GARAGE
COMMERCIAL (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
2008
Heating
YES
Cooling
Yes
Stories
1
Lot
6.11 ac
Current owner
From public records · entity-resolved
Cole Ht Durham Nc LLC
Entity
Free & Clear · 17 yrs held
Mailing address
PO BOX 10100, MATTHEWS, NC 28106-0100
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 31, 2009
$3,245,000
Cole Ht Durham Nc LLC
Irt,partners LP
Grant Deed
—
—
—
Cole Ht Durham Nc LLC
—
Loan Modification
related
$27,200,000 · Jackson National Life Ins Co
—
—
Cole Ht Durham Nc LLC
—
Deed Of Trust
related
$30,000,000 · Jackson National Life Ins Co
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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