Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1909 Lamar St Durham, NC 27705-3310

    • Auto shops
    • 3,000 SF
    • 0.36 lot acres
    OFF-MARKET
    Last Sale
    Jul 29, 2022
    $675,000
    Value Estimations
    $655,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1371049
    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

    • Pete's Garage / Auto Repair Shop

    Property Details for 1909 Lamar St

    Year built
    1986
    Lot size
    0.36 lot acres
    Property size
    3,000 SF
    Zone code
    CG
    Property type
    Auto shops
    APN
    125162
    APU
    125162

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $620,000
      ML approach
      $630,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $666,000
      Market price range: $553k - $1.29M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $875,000
      Current use
      RETAIL STORES
      $735,000
      Change: -16% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $720,000
      Change: -17% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Durham
    County
    Durham
    State
    North Carolina
    Longitude
    -78.9229
    Latitude
    36.0277
    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
    $4,146
    $182,342
    $114,898
    $297,240
    -
    $182,342
    $114,898
    $297,240

    Comparable in this City

    • Value Estimation
      $895,000
      4,925 SF

      722 Iredell St

      AUTO REPAIR, GARAGE • 4,925 SF
      722 Iredell St, Durham, NC 27705-4805
      View Details
    • Value Estimation by Request
      5,000 SF

      719 Iredell St

      AUTO REPAIR, GARAGE • 5,000 SF
      719 Iredell St, Durham, NC 27705-4804
      View Details
    • Value Estimation by Request
      4,788 SF

      2511 Guess Rd

      AUTO REPAIR, GARAGE • 4,788 SF
      2511 Guess Rd, Durham, NC 27705-3306
      View Details
    • Value Estimation
      $1,880,000
      4,483 SF

      2504 Hillsborough Rd

      AUTO REPAIR, GARAGE • 4,483 SF
      2504 Hillsborough Rd, Durham, NC 27705-4042
      View Details
    • Value Estimation by Request
      4,317 SF

      2828 Hillsborough Rd

      AUTO REPAIR, GARAGE • 4,317 SF
      2828 Hillsborough Rd, Durham, NC 27705-4046
      View Details
    • Value Estimation by Request
      2,448 SF

      1901 Markham Ave

      AUTO REPAIR, GARAGE • 2,448 SF
      1901 Markham Ave, Durham, NC 27705
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Neighborhood Shopping Center For Sale

      93,048 SF shopping center in growing Durham market.
      3823 Guess Rd, Durham, NC 27705
      View Details
    • Contact for pricing

      Turnkey Commercial Buildings in Durham

      Freestanding commercial buildings perfect for owner-user office or redevelopment.
      2117 Guess Rd, Durham, NC 27705
      View Details
    • Contact for pricing
      1,600 SF

      Durham Office Near Highway 85

      Office property close to Highway 85, Duke, and RTP.
      3219 Guess Rd, Durham, NC 27705
      View Details
    • $349,900
      900 SF

      Durham Duplex Near Duke University

      Duplex near Duke University, ideal for investors or owner-occupants.
      1014 Sedgefield St, Durham, NC 27705
      View Details
    • Contact for pricing

      Ready-to-Build Lot in Durham

      Residential lot ready for construction in a convenient, serene location.
      3022 Rosebriar Dr, Durham, NC 27705
      View Details
    • $387,000
      Pending

      Leased Duplex Near Duke

      Fully leased duplex with strong rental history near Duke.
      1015 Sedgefield St, Durham, NC 27705
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Renovated Historic Building on Ninth

      Fully renovated historic building in Durham's vibrant 9th Street district.
      706 Ninth St, Durham, NC 27705
      View Details
    • Contact for pricing
      11,868 SF

      Durham Retail Center Space Available

      Retail space for lease in Durham Festival Center.
      3457 Hillsborough Rd, Durham, NC 27705
      View Details
    • Contact for pricing

      Renovated Retail Center on Guess

      Newly renovated retail center with high visibility and accessibility.
      1720 Guess Rd, Durham, NC 27705
      View Details
    • Contact for pricing

      Mixed-Use Development Opportunity in Durham

      Mixed-use development site with retail, restaurant, and residential potential.
      3214 Hillsborough Rd, Durham, NC 27705
      View Details
    • Contact for pricing

      Retail Space on Durham-Chapel Hill

      2,800 SF commercial space with high visibility and access.
      3742 Durham Chapel Hill Blvd, Durham, NC 27705
      View Details
    • Contact for pricing

      North Durham Shopping Center Space

      Retail space in North Durham's premier shopping destination.
      1515 N Pointe Dr, Durham, NC 27705
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1909 Lamar St
    Durham, NC 27705-3310
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!