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    Property profile & analytics

    2 Tw Alexander Dr Durham, NC 27703-7028

    • Manufacturing properties
    • 491,701 SF
    • 124.48 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-2357148
    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

    • Jacobsen Seed / Big Box & Wholesale Store / Agricultural Supply
    • BASF Agricultural Solutions / Corporate Office
    • BASF Center for Sustainable Agriculture / Corporate Office
    • BASF PSS / Chemical Plant / Factory

    Property Details for 2 Tw Alexander Dr

    Year built
    1981
    Lot size
    124.48 lot acres
    Property size
    491,701 SF
    Zone code
    SRP
    Property type
    Manufacturing properties
    APN
    157257
    APU
    157257

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $108,290,000
      6.5%
      $99,960,000
      7%
      $92,820,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $139,725,000
      Market price range: $43.9M - $140M
      AI Estimate
      $99,828,000
      Market price range: $10.5M - $117M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $85,495,000
      Current use
      AUTO REPAIR, GARAGE
      $143,400,000
      Change: +68% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $131,145,000
      Change: +53% Conversion: Difficult
      RETAIL STORES
      $120,845,000
      Change: +41% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $119,515,000
      Change: +40% Conversion: Difficult
      OFFICE BUILDING
      $112,310,000
      Change: +31% Conversion: Difficult
      WAREHOUSE, STORAGE
      $73,350,000
      Change: -14% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Durham
    County
    Durham
    State
    North Carolina
    Longitude
    -78.8557
    Latitude
    35.9287
    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
    $539,580
    $7,294,936
    $42,695,427
    $49,990,363
    -
    $7,294,936
    $42,695,427
    $49,990,363

    Comparable in this City

    • Value Estimation by Request
      0.29 Acres

      1751 Tw Alexander Dr

      MANUFACTURING (LIGHT) • 0.29 Acres
      1751 Tw Alexander Dr, Durham, NC 27703-9252
      View Details
    • Value Estimation by Request
      451,553 SF

      3701 Miami Blvd

      MANUFACTURING (LIGHT) • 451,553 SF
      3701 Miami Blvd, Durham, NC 27703-9131
      View Details
    • Value Estimation
      $22,850,000
      131,175 SF

      4102 Miami Blvd

      MANUFACTURING (LIGHT) • 131,175 SF
      4102 Miami Blvd, Durham, NC 27703-9138
      View Details
    • Value Estimation
      $19,700,000
      100,686 SF

      1 Litho Way

      MANUFACTURING (LIGHT) • 100,686 SF
      1 Litho Way, Durham, NC 27703-8929
      View Details
    • Value Estimation
      $33,310,000
      137,715 SF

      20 Tw Alexander Dr

      MANUFACTURING (LIGHT) • 137,715 SF
      20 Tw Alexander Dr, Durham, NC 27703-7028
      View Details
    • Value Estimation
      $8,380,000
      42,720 SF

      116 Page Pt Cir

      MANUFACTURING (LIGHT) • 42,720 SF
      116 Page Pt Cir, Durham, NC 27703-9120
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      34,433 SF

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      Multi-tenant building in a growing submarket with redevelopment potential.
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      Durham Warehouse and Office Space

      Warehouse and office space available near Raleigh-Durham International Airport.
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      Durham Flex Building For Sale

      Flex building with fenced lot, currently leased for income.
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      Durham Warehouse Near Airport

      245,000 SF Class A warehouse near RDU Airport.
      2012 T W Alexander Dr, Durham, NC 27703
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    • $85,000
      0.69 Acres

      Residential Lot in Durham Neighborhood

      0.69 acre residential lot in established Durham neighborhood.
      620 Hurley Rd, Durham, NC 27703
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    • Contact for pricing

      Land For Sale

      Land available for purchase.
      3912 Laurel Ave, Durham, NC 27703
      View Details

    Similar Nearby for Lease

    • $30 SF/Yr

      Plug and Play Lab Space

      Move-in ready lab and office space in Durham, NC.
      4025 Stirrup Creek Dr, Durham, NC 27703
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    • Contact for pricing
      99,663 SF

      Durham Warehouse Space Available

      99,663 SF warehouse space for lease in Durham, NC.
      224 North Hoover Rd, Durham, NC 27703
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    • Contact for pricing

      Durham Flex Space Available

      Flex space available near Raleigh-Durham International Airport.
      1000 Parliament Ct, Durham, NC 27703
      View Details
    • Contact for pricing

      Industrial Facility with Lay Down Yard

      12,000 SF facility with 5.5 acre lay down yard.
      2714 Angier Ave, Durham, NC 27703
      View Details
    • $13 SF/Yr
      35,000 SF

      Durham Flex Space Available

      35,000 SF flex space for rent in Durham.
      4808 Chin Page Rd, Durham, NC 27703
      View Details
    • Contact for pricing

      RTP Imperial

      Discover many ways to work your way in RTP Imperial
      4819 Emperor Blvd, Durham, NC 27703
      View Details
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    Durham, NC 27703-7028
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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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