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    Property profile & analytics

    1518 Miami Blvd Durham, NC 27703-5626

    • Retail space
    • 8,050 SF
    • 1.02 lot acres
    OFF-MARKET
    Value Estimations
    $1,375,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-0839794
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Family Dollar / Discount Store

    Property Details for 1518 Miami Blvd

    Year built
    2011
    Lot size
    1.02 lot acres
    Property size
    8,050 SF
    Zone code
    CG
    Property type
    Retail space
    APN
    165106
    APU
    165106

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,545,000
      6.5%
      $1,430,000
      7%
      $1,325,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,150,000
      Market price range: $421k - $1.46M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,980,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $2,145,000
      Change: +9% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,955,000
      Change: -1% Conversion: Easy
      OFFICE BUILDING
      $1,840,000
      Change: -7% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Durham
    County
    Durham
    State
    North Carolina
    Longitude
    -78.8396
    Latitude
    35.9519
    CBSA code
    20500
    CBSA name
    DURHAM-CHAPEL HILL, NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $10,717
    $352,800
    $740,961
    $1,093,761
    -
    $352,800
    $740,961
    $1,093,761

    Comparable in this City

    • Value Estimation by Request
      980 SF

      2206 Harvard Ave

      RETAIL STORES (PERSONAL SERVICES) • 980 SF
      2206 Harvard Ave, Durham, NC 27703-4152
      View Details
    • Value Estimation
      $4,655,000
      12,040 SF

      5111 Wake Frst Rd

      RETAIL STORES (PERSONAL SERVICES) • 12,040 SF
      5111 Wake Frst Rd, Durham, NC 27703-3704
      View Details
    • Value Estimation by Request
      980 SF

      106 Guthrie Ave

      RETAIL STORES (PERSONAL SERVICES) • 980 SF
      106 Guthrie Ave, Durham, NC 27703-4138
      View Details
    • Value Estimation by Request
      1,176 SF

      1600 Holloway St

      RETAIL STORES (PERSONAL SERVICES) • 1,176 SF
      1600 Holloway St, Durham, NC 27703-2130
      View Details
    • Value Estimation by Request
      1,332 SF

      214 Driver St

      RETAIL STORES (PERSONAL SERVICES) • 1,332 SF
      214 Driver St, Durham, NC 27703-4136
      View Details
    • Value Estimation by Request
      2,724 SF

      Durham, NC 27703

      RETAIL STORES (PERSONAL SERVICES) • 2,724 SF
      Durham, NC 27703
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Commercial Property on Angier Avenue

      Commercial property for sale with existing rental income.
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      46,747 SF

      Retail Buildings Assemblage For Sale

      Five-parcel assemblage with three retail buildings totaling ±46,747 SF.
      1839-1843 N Miami Blvd, Durham, NC 27703
      View Details
    • Contact for pricing
      34,433 SF

      Versatile Income-Producing Asset in Durham

      Multi-tenant building in a growing submarket with redevelopment potential.
      1020 South Miami Blvd, Durham, NC 27703
      View Details
    • $1,000,000
      4,000 SF

      Established Durham Mechanical Shop For Sale

      Income-producing mechanical shop with five service bays and ample parking.
      2410 Angier Ave, Durham, NC 27703
      View Details
    • $5,995,000

      Automotive Sales and Service Centers

      Two buildings and a fenced parking lot for sale.
      1426 S Miami Blvd, Durham, NC 27703
      View Details
    • Contact for pricing
      4,000 SF

      Established Durham Mechanical Shop For Sale

      Income-producing mechanical shop with five service bays and ample parking.
      2410 Angier Ave, Durham, NC 27703
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Research Triangle

      Retail space available in Research Triangle Park.
      5431 Page Rd, Durham, NC 27703
      View Details
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      Class-A Office with Prime Amenities

      Landmark 11-story office building with unparalleled signage and amenities.
      4820 Emperor Blvd, Durham, NC 27703
      View Details
    • Contact for pricing

      Retail Space For Rent

      Retail space available for rent in Durham, North Carolina.
      4311 S Miami Blvd, Durham, NC 27703
      View Details
    • Contact for pricing

      Retail Space in Village Plaza

      Large retail space available for lease in Durham, North Carolina.
      907 N Miami Blvd, Durham, NC 27703
      View Details
    • Contact for pricing

      Retail Space in Village Plaza

      Large retail space in high-traffic Durham location, abundant parking.
      907 N Miami Blvd, Durham, NC 27703
      View Details
    • Contact for pricing

      Built-Out Lab Sublease Opportunity

      Retail space available for rent in Durham, North Carolina.
      4025 Stirrup Creek Dr, Durham, NC 27703
      View Details

    Property Visit Statistics

    • Visits by month
      4.0k
    • Visitors by month
      3.5k
    • Avg Time on site
      12 min
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    Durham, NC 27703-5626
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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