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Property profile & analytics
OFF-MARKET
Estimated value
$2,340,000
Hotels
202 Cardinal Dr, Hillsborough, NC 27278-2176
Entity Owned
24-yr Hold
~
Est. High Equity
Property ID
US53-0335174
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1996
Total area
42,250 SF
Lot
4.25 ac (185,130 SF)
Zoning code
HI
APN
9863-89-2477
UPID
US53-0335174
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
-
Universal EV Charging Station Electric Vehicle Charging Station
-
Holiday Inn Express Hillsborough (Durham Area), an IHG Hotel Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.42M
CAP Approach
CAP
$3.26M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.34M
Owner & transaction history
Rainbow Hospitality LLC · 24 yrs held
Rainbow Hospitality LLC
since 2001
6 recorded transactions
Zoning & alternative use
HI · Hillsborough, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Hillsborough submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hillsborough 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
$1,420,000
CAP Approach
CAP Return
Estimation
6%
$3,530,000
6.5%
$3,260,000
7%
$3,030,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$3,035,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$2.34M
Range $2.11M – $2.57M · ±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
$55 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$80,791
Tax year 2023
Assessed value
$4,655,200
Assessed 2023
Previous assessed
$4,655,200
+0.0% YoY
Effective rate
1.74%
On assessed value
Assessed land
$1,377,000
Assessed improvement
$3,278,200
Land market value
$1,377,000
Improvement market value
$3,278,200
Total market value
$4,655,200
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1996
Heating
YES
Stories
3
Total area
42,250 SF
Lot
4.25 ac (185,130 SF)
Zoning code
HI
APN
9863-89-2477
UPID
US53-0335174
Jurisdiction
ORANGE
Zoning & alternative use
HI · Hillsborough, NC
Zoning HI · permitted uses
HI · Hillsborough, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hillsborough. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL)
Est. value
$3.0M
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
1996
Heating
YES
Stories
3
Lot
4.25 ac
Current owner
From public records · entity-resolved
Rainbow Hospitality LLC
Entity
Mailing address
202 CARDINAL DR, HILLSBOROUGH, NC 27278-2176
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2001
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
Sep 7, 2022
—
Rainbow Hospitality LLC
—
Deed
related
$3,400,000 · Lumbee Guaranty Bank
Aug 10, 2017
—
Rainbow Hospitality LLC
—
Deed
related
$3,800,000 · Branch Bk&tr
Aug 9, 2001
$3,200,000
Rainbow Hospitality LLC
Mbl & Associates
Grant Deed
—
—
—
Rainbow Hospitality LLC
—
Deed Of Trust
related
$3,250,000 · Column Financial INC
—
—
Rainbow Hospitality LLC
—
Deed Of Trust
related
$3,800,000 · Branch Bk&tr
—
—
Rainbow Hospitality LLC
—
Deed Of Trust
related
$2,722,600 · Branch Banking & Trust Co
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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