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Property profile & analytics
OFF-MARKET
Estimated value
$37,870,000
Warehouses
2001 Tw Alexander Dr, Durham, NC 27709-0184
Entity Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-2788121
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2009
Total area
300,688 SF
Lot
26.12 ac (1,137,787 SF)
Zoning code
IP
APN
157379
UPID
US53-2788121
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
-
Iron Mountain Storage Facility
-
Airplus Footcare Clothing & Fashion Store (Bike/Boat/Book/etc) Store
-
YAKTRAX Industrial Manufacturer Production Facility
-
Implus Footcare, Medical Clinic Spa & Massage Center
-
High Gear LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$32.91M
Comparable Approach
Comparable
$42.99M
Blend (final)
Blend
$37.87M
Owner & transaction history
Lba Ncc Company Xxxii LLC · 3 yrs held
Lba Ncc Company Xxxii LLC
since 2023
Last sale
$35.0M
6 recorded transactions
Zoning & alternative use
IP · Durham, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$52.3M
+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
$43,555,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$35,655,000
6.5%
$32,910,000
7%
$30,560,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$44,855,000
Current use
INDUSTRIAL (GENERAL)
$52,285,000
Change: +17% · Conversion: Easy
Blend value · Realmo final
$37.87M
Range $34.08M – $41.66M · ±10% · vs last sale $34.95M (May 3 2023)
Last sale anchor
$34.95M
May 3 2023
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
$126 / 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
$286,690
Tax year 2024
Assessed value
$20,552,701
Assessed 2024
Previous assessed
$20,552,701
+0.0% YoY
Effective rate
1.39%
On assessed value
Assessed land
$2,201,130
Assessed improvement
$18,351,571
Land market value
$2,201,130
Improvement market value
$18,351,571
Total market value
$20,552,701
Applied tax rate
55.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
2009
Heating
SPACE
Stories
1
Total area
300,688 SF
Lot
26.12 ac (1,137,787 SF)
Zoning code
IP
APN
157379
UPID
US53-2788121
Jurisdiction
DURHAM
Zoning & alternative use
IP · Durham, NC
Zoning IP · permitted uses
IP · 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
$44.9M
INDUSTRIAL (GENERAL)
Est. value
$52.3M
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
2009
Heating
SPACE
Stories
1
Lot
26.12 ac
Current owner
From public records · entity-resolved
Lba Ncc Company Xxxii LLC
Entity
Free & Clear · 3 yrs held
Mailing address
3347 MICHELSON DR STE #200, IRVINE, CA 92612-0687
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 3, 2023
—
Lba Ncc Company Xxxii LLC
Crc Durfiam LLC
Assignment Of Lease (leasehold Sale)
—
May 3, 2023
$34,950,000
Lba Ncc Company Xxxii LLC
Grc Durham LLC
Special Warranty Deed
—
May 27, 2011
$21,000,000
Grc Durham LLC
Tkc Cxxiv LLC
Grant Deed
$14,000,000 · Broadstone Net Lease LLC
Aug 11, 2008
—
Tkc Cxxiv LLC
Rtp,investors Limited Part
Grant Deed
—
Aug 11, 2008
$2,417,500
Tkc Cxxiv LLC
Rtp Raleigh Investors LP
Special Warranty Deed
$12,424,000 · Wachovia Bank NA
—
—
Tkc Cxxiv LLC
—
Deed Of Trust
related
$14,318,096 · Wells Fargo Bank
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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