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Property profile & analytics
OFF-MARKET
Estimated value
$11,570,000
Office buildings
170 Southport Dr, Morrisville, NC 27560-7327
Entity Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-0866902
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2001
Total area
36,265 SF
Lot
6.54 ac (284,882 SF)
Zoning code
IM
APN
0755.02-69-5192 0231003
UPID
US53-0866902
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
$11.85M
CAP Approach
CAP
$10.47M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$11.57M
Owner & transaction history
Sbp Office Owner LP · 5 yrs held
Sbp Office Owner LP
since 2020
Last sale
$12.0M
4 recorded transactions
Zoning & alternative use
IM · Morrisville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$18.9M
+144.4%
Retail stores
$16.8M
+116.8%
Auto repair, garage
$15.3M
+98.2%
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
$15,345,000
ML approach
$11,845,000
CAP Approach
CAP Return
Estimation
6%
$11,340,000
6.5%
$10,465,000
7%
$9,720,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$7,730,000
Current use
RESTAURANT
$18,890,000
Change: +144% · Conversion: Moderate
RETAIL STORES
$16,755,000
Change: +117% · Conversion: Moderate
AUTO REPAIR, GARAGE
$15,320,000
Change: +98% · Conversion: Difficult
MEDICAL BUILDING
$12,495,000
Change: +62% · Conversion: Easy
Blend value · Realmo final
$11.57M
Range $10.41M – $12.73M · ±10% · vs last sale $11.99M (Nov 25 2020)
Last sale anchor
$11.99M
Nov 25 2020
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
$319 / 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
$60,069
Tax year 2023
Assessed value
$5,536,720
Assessed 2023
Previous assessed
$5,536,720
+0.0% YoY
Effective rate
1.08%
On assessed value
Assessed land
$1,004,058
Assessed improvement
$4,532,662
Land market value
$1,004,058
Improvement market value
$4,532,662
Total market value
$5,536,720
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2001
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
36,265 SF
Lot
6.54 ac (284,882 SF)
Zoning code
IM
APN
0755.02-69-5192 0231003
UPID
US53-0866902
Jurisdiction
WAKE
Zoning & alternative use
IM · Morrisville, NC
Zoning IM · permitted uses
IM · 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
OFFICE BUILDING Current
Est. value
$7.7M
RESTAURANT
Est. value
$18.9M
RETAIL STORES
Est. value
$16.8M
AUTO REPAIR, GARAGE
Est. value
$15.3M
MEDICAL BUILDING
Est. value
$12.5M
OFFICE BUILDING Current
RESTAURANT
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
2001
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
6.54 ac
Current owner
From public records · entity-resolved
Sbp Office Owner LP
Entity
Free & Clear · 5 yrs held
Mailing address
1255 23RD ST NW, WASHINGTON, DC 20037-1125
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
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
Mar 11, 2026
—
Sbp Office Owner LP
—
Deed
related
$228,515,000 · Areeif Lender Ms LLC
Dec 9, 2020
—
Sbp Office Owner LP
—
Deed Of Trust
related
$229,515 · Areeif Lender LLC
Nov 25, 2020
$208,600,000
Sbp Office Owner LP
Southport Business Park LP
Grant Deed
—
Jun 17, 2009
—
Southport Business Park
—
Deed Of Trust
related
$8,500,000 · Unum Life Ins Co America
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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