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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1701 Cornwallis Rd Durham, NC 27713-1414

    • Garden apartment buildings
    • 17,360 SF
    • 21.05 lot acres
    OFF-MARKET
    Value Estimations
    $1,830,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-5487454
    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

    • Emory Woods @RTP Apartments / Apartment Complex / Apartment Building

    Property Details for 1701 Cornwallis Rd

    Year built
    1980
    Lot size
    21.05 lot acres
    Property size
    17,360 SF
    Zone code
    RS-M
    Property type
    Garden apartment buildings
    APN
    133830
    APU
    133830

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,175,000
      6.5%
      $2,010,000
      7%
      $1,865,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Durham
    County
    Durham
    State
    North Carolina
    Longitude
    -78.8946
    Latitude
    35.9395
    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
    2024
    $191,782
    $2,300,000
    $11,448,822
    $13,748,822
    -
    $2,300,000
    $11,448,822
    $13,748,822

    Comparable in this City

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      $1,400,000
      11,880 SF

      5203 Penrith Dr

      GARDEN APT, COURT APT (5+ UNITS) • 11,880 SF
      5203 Penrith Dr, Durham, NC 27713
      View Details
    • Value Estimation
      $1,850,000
      23,889 SF

      2529 Meridian Pkwy

      GARDEN APT, COURT APT (5+ UNITS) • 23,889 SF
      2529 Meridian Pkwy, Durham, NC 27713
      View Details
    • Value Estimation
      $700,000
      6,000 SF

      6401 Monterrey Crk Dr

      GARDEN APT, COURT APT (5+ UNITS) • 6,000 SF
      6401 Monterrey Crk Dr, Durham, NC 27713-6267
      View Details
    • Value Estimation
      $1,205,000
      12,432 SF

      1800 Southpoint Xing Dr

      GARDEN APT, COURT APT (5+ UNITS) • 12,432 SF
      1800 Southpoint Xing Dr, Durham, NC 27713-6613
      View Details
    • Value Estimation by Request
      8,199 SF

      5800 Tattersall Dr

      GARDEN APT, COURT APT (5+ UNITS) • 8,199 SF
      5800 Tattersall Dr, Durham, NC 27713-9020
      View Details
    • Value Estimation
      $11,660,000
      77,076 SF

      1516 Savannah Pl Dr

      GARDEN APT, COURT APT (5+ UNITS) • 77,076 SF
      1516 Savannah Pl Dr, Durham, NC 27713-8369
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      41.10 Acres

      Durham Mixed-Use Development Opportunity

      41 Acres, 1340 Units, 300,000 SF
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      View Details
    • $210,000
      819 SF

      Durham Condo with Fireplace

      2-bedroom, 2-bath condo with fireplace, close to amenities.
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    • $280,000
      1,139 SF

      Elm Grove Townhome with Upgrades

      Townhome in Hope Valley with updated interior and wooded views.
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      One-Level Living in Woodcroft

      Well-designed home with open layout, close to amenities and transportation.
      200 W Woodcroft Pkwy, Durham, NC 27713
      View Details
    • Contact for pricing
      0.10 Acres

      Durham Office Suite - I-40 Access

      Prime South Durham office, utilities included.
      1906 Nc 54 Hwy, Durham, NC 27713
      View Details
    • Contact for pricing
      151,376 SF

      Class A Office Campus Redevelopment

      Two-building Class A office campus with modern indoor/outdoor workspaces.
      2222 Nc 54, Durham, NC 27713
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    Similar Nearby for Lease

    • Contact for pricing
      103,673 SF

      Durham Commercial Land Opportunity

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    • $1,850 /Mo

      Auburn Square End Unit

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    • $2,250 /Mo
      1,890 SF

      Sprawling Townhome in Stellar Durham

      Light-filled townhome with high-end finishes, chef's kitchen, and private backyard.
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      View Details
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      Charming Townhome in Woodcroft

      3BR/2.5BA end-unit townhome in Durham's desirable Woodcroft neighborhood.
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      View Details
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      1,890 SF

      Sprawling Townhome in Stellar Durham

      Light-filled townhome with high-end finishes, chef's kitchen, and private backyard.
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      View Details
    • Contact for pricing
      85,602 SF

      Parkwest Crossing Retail Space

      Durham, NC retail space available.
      4900 Nc-55, Durham, NC 27713
      View Details
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    1701 Cornwallis Rd
    Durham, NC 27713-1414
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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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