FOR LEASE
Warehouses
Property ID
US53-3386818
Entity Owned Owner of record is a legal entity (LLC / corporation).
12-yr Hold Held for 12 years.
Absentee Owner Owner mailing address differs from the property address.
Free & Clear No active or open recorded mortgage detected.
Entity Owned 
For Lease
$49,030,000
1951 T W Alexander Dr, Durham, NC 27703
View Listing
Ownership intelligence
Who controls the opportunity?
Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.
Owner contacts
Can we reach the decision maker?
Skip-traced phones and e-mails of the owner. Included with the full report.
Mortgages
What is owed, to whom, and when it comes due
Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.
Property tax · 2024
What does the county charge?
$455k
Tax billed · 2024
Assessed value$32.63M
Assessed land$4.29M
Assessed improvement$28.34M
Effective rate1.39%
Value estimate
· Sep 2026$49.03M
$44.13M – $53.93M
CAP approach$49.92M
Submarket $/SF estimate$65.11M
Realmo valuation models over county records.
Recently sold
What actually traded nearby?
$149/SF
Submarket average, outlier-cleaned · 36 recorded sales of this use type
Observed band · Q1–Q3$111 – $226
Cap rate analysis
How does the asset earn?
No income signal is modeled for this parcel yet — the Cap Rates tab runs the workflow.
Zoning insight
What can be built here?
IP
The IP District is established to provide for orderlydevelopmentof manufacturing, research and support activities in a unified campus-sty...
General categoryINDUSTRIAL
JurisdictionDURHAM
Location intelligence
Which uses thrive at this corner?
Best fit: Auto Repair Shop
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Auto Repair Shop17.4
Restaurant16.8
Realty agency15.7
Demand index: how under-served this business type is around this point — modeled from the LocInt grid (area demand vs. what already operates, adjusted by real visit traffic). Higher means stronger unmet demand.
Location
✓ County assessor
✓ Recorded deeds · 3 transfers
– Qualifying comp sales · not on file
✓ Zoning catalog
Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.
Comparables
6 recorded sales · 16 properties nearbyRecent sales nearby
6 recorded sales in this ZIP, last 8 years
Address
Sale price
Sold
Size
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
Comparable nearby
Similar Nearby for Sale
Similar Nearby for Lease
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks.A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
1 alternative use screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
from $99/month
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Summary
1
Valuation conclusion
Included free
Estimated market value
$49.03M
Value range
$44.13M – $53.93M
±10% around blend
Estimated value / SF
$108 / SF
Confidence
Property data
100
Market benchmarks
67
Comparable sales
60
$44.13M
blend $49.03M
$53.93M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
- GBA
- 456,072 SF
- Lot area
- 35.73 ac
- Year built
- 2016
- Stories
- 1
- APN
- 207174
- Zoning
- IP
- Assessed value · 2024
- $32,630,523
- Annual tax · 2024
- $455,163
3
Income approach: direct capitalization
Partial preview
Income approach indication
$49.92M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$54.08M
@ 6.5% CAP return
$49.92M
@ 7% CAP return
$46.36M
4
Comparable sales
Partial preview
Comparables picked and weighted for this valuation. The Overview tab lists recorded sales nearby as our records hold them, unweighted and unselected, so the two do not have to agree.
Sales approach indication
$65.11M
Range $50.53M – $102.92M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$49.03M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)
Average
Subject delta
Submarket 36 sales
$149
-28%
County 39 sales
$156
-31%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $108/SF.
Delta below average reads as headroom.
Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Industrial (general)
Gross theoretical uplift
+17%
vs current use, $68.04M
- Warehouse, Storage · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable sales, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
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Overview
No cap rate is computable for this property yet
No recorded sale, income signal or market-rate row for its use type. Any figures below are a modeled what-if, not an implied cap rate.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$32.63M
Move the market yield to see immediate price impact.
Value / SF
$72
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$2.06M
$41.11M
$29.37M
$22.84M
$2.28M
$45.68M
$32.63M
$25.38M
$2.51M
$50.25M
$35.89M
$27.92M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Building & lot
Public records
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Status
For Lease
Year built
2016
Heating
YES
Cooling
YES
Stories
1
Total area
456,072 SF
Lot
35.73 ac (1,556,399 SF)
Zoning code
IP
INDUSTRIAL
APN
207174
UPID
US53-3386818
Jurisdiction
DURHAM
Property tax & assessments
Tax year 2024
Tax billed
$455,163
Assessed value
$32,630,523
Assessed 2024
Previous assessed
$32,630,523
+0.0% YoY
Effective rate
1.39%
On assessed value
Assessed land
$4,294,950
Assessed improvement
$28,335,573
Land market value
$4,294,950
Improvement market value
$28,335,573
Total market value
$32,630,523
Applied tax rate
55.0000
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
Jurisdiction
Durham, NC
Zoning code
IP
Category
INDUSTRIAL
Codes and permitted uses for this address
Registration is required before the official district profile is shown.
Official district profile
What the municipal code says about IP
Zoning description
The IP District is established to provide for orderlydevelopmentof manufacturing, research and support activities in a unified campus-style setting. The district is intended to ensuredevelopmentthat is compatible withadj…
General category
INDUSTRIAL
Owner Contacts
Phones and e-mails of the people behind this property's owner, traced from licensed contact data.
Owner phones and e-mails come with the full report for this property - traced from licensed contact data, with verification and Do-Not-Call flags on every number.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and any signals we can model, to help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties we can resolve, with estimated value
Deal signalsSell-side activity where we detect it
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
Mortgages · part of Ownership Intelligence
See what the owner owes, and when it comes due.
The mortgage data is behind the paid report: recorded loans of the owner - lender, amount, rate and the estimated maturity - as part of the Ownership Intelligence workspace.
What opens after registration
Ownership report
Recorded loansLender, amount and origination for every instrument
Estimated maturityWhen the debt comes due and the refi window opens
Rates & liensRecorded or estimated rate, junior liens flagged
CollateralWhich holding secures each loan - this property marked
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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- Full Property Data
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- NOI Potential
- Cap Rate Calculation
- Location Insight
- Alternative use
- Local Zoning Insight
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