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Property profile & analytics
OFF-MARKET
Estimated value
$37,215,000
Warehouses
1805 Tw Alexander Dr Durham, NC 27703-8389
Entity Owned
14-yr Hold
Free & Clear
Property ID
US53-2742033
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2000
Total area
324,664 SF
Lot
25.05 ac (1,091,178 SF)
Zoning code
IL,IL(D)
APN
232720
UPID
US53-2742033
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
-
The light show Big Box & Wholesale Store
-
Amazon Inc. Distribution Center Logistics Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$35.54M
Comparable Approach
Comparable
$51.00M
Blend (final)
Blend
$37.22M
Owner & transaction history
Duke Realty LP · 14 yrs held
Duke Realty LP
since 2011
3 recorded transactions
Zoning & alternative use
IL,IL(D) · Durham, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$56.5M
+16.6%
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%
$38,495,000
6.5%
$35,535,000
7%
$32,995,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$48,435,000
Current use
INDUSTRIAL (GENERAL)
$56,455,000
Change: +17% · Conversion: Easy
Blend value · Realmo final
$37.22M
Range $33.49M – $40.94M · ±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
$115 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$356,491
Tax year 2024
Assessed value
$25,556,748
Assessed 2024
Previous assessed
$25,556,748
+0.0% YoY
Effective rate
1.39%
On assessed value
Assessed land
$2,653,748
Assessed improvement
$22,903,000
Land market value
$2,653,748
Improvement market value
$22,903,000
Total market value
$25,556,748
Applied tax rate
55.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2000
Heating
PACKAGE
Stories
1
Total area
324,664 SF
Lot
25.05 ac (1,091,178 SF)
Zoning code
IL,IL(D)
APN
232720
UPID
US53-2742033
Jurisdiction
DURHAM
Zoning & alternative use
IL,IL(D) · Durham, NC
Zoning IL,IL(D) · permitted uses
IL,IL(D) · Durham, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Durham. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$48.4M
INDUSTRIAL (GENERAL)
Est. value
$56.5M
WAREHOUSE, STORAGE Current
INDUSTRIAL (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
2000
Heating
PACKAGE
Stories
1
Lot
25.05 ac
Current owner
From public records · entity-resolved
Duke Realty LP
Entity
Free & Clear · 14 yrs held
Mailing address
PO BOX 40509, INDIANAPOLIS, IN 46240-0509
Ownership since
2011
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
Sep 23, 2011
$17,500,000
Duke Realty LP
Crown-raleigh Vi LLC
Grant Deed
—
Jul 10, 2008
—
Crown Raleigh Vi LLC
Medline Industries INC
Grant Deed
$11,000,000 · Bank Of America
Jul 6, 2008
$14,500,000
Crown Raleigh Vi LLC
Medline Industries INC
Grant Deed
—
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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