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    Property profile & analytics

    2108 Broad St Durham, NC 27705-3435

    • Grocery and convenience stores
    • 4,457 SF
    • 0.50 lot acres
    OFF-MARKET
    Value Estimations
    $385,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-5734450
    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

    • Grocery and convenience stores

    Property Details for 2108 Broad St

    Year built
    1974
    Lot size
    0.50 lot acres
    Property size
    4,457 SF
    Zone code
    CN
    Property type
    Grocery and convenience stores
    APN
    106393
    APU
    106393

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $375,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $581,000
      Market price range: $581k - $977k

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

    Location Insight

    • Map
    • Local Demand
    City
    Durham
    County
    Durham
    State
    North Carolina
    Longitude
    -78.9133
    Latitude
    36.0279
    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
    $9,394
    $310,985
    $362,490
    $673,475
    -
    $310,985
    $362,490
    $673,475

    Comparable in this City

    • Value Estimation
      $505,000
      48,270 SF

      1501 Horton Rd

      GROCERY, SUPERMARKET • 48,270 SF
      1501 Horton Rd, Durham, NC 27705-2005
      View Details
    • Value Estimation
      $280,000
      1,428 SF

      2508 Hillsborough Rd

      CONVENIENCE STORE • 1,428 SF
      2508 Hillsborough Rd, Durham, NC 27705-4042
      View Details
    • Value Estimation
      $305,000
      1,408 SF

      2905 Hillsborough Rd

      CONVENIENCE STORE (W/FUEL PUMP) • 1,408 SF
      2905 Hillsborough Rd, Durham, NC 27705-4047
      View Details
    • Value Estimation
      $325,000
      1,700 SF

      3301 Guess Rd

      CONVENIENCE STORE (W/FUEL PUMP) • 1,700 SF
      3301 Guess Rd, Durham, NC 27705-2105
      View Details
    • Value Estimation
      $375,000
      1,800 SF

      1815 Hillandale Rd

      CONVENIENCE STORE (W/FUEL PUMP) • 1,800 SF
      1815 Hillandale Rd, Durham, NC 27705-2649
      View Details
    • Value Estimation
      $1,155,000
      54,102 SF

      4623 Hillsborough Rd

      GROCERY, SUPERMARKET • 54,102 SF
      4623 Hillsborough Rd, Durham, NC 27705-2343
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      93,048 SF

      Neighborhood Shopping Center For Sale

      93,048 SF shopping center in growing Durham market.
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      Wooded 0.51-acre lot in prime Durham location.
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      4+ acre land parcel suitable for building or farming.
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    • New
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      Durham, NC Wooded Lot

      Wooded lot in Durham, NC, convenient location.
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    • $425,000
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      Durham Office Suites - Prime Location

      Two Suites, 1972 sq ft, Ample Parking
      1816 Front St, Durham, NC 27705
      View Details

    Similar Nearby for Lease

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      8,400 SF

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      Fully renovated historic building in Durham's vibrant 9th Street district.
      706 Ninth St, Durham, NC 27705
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      Prime Durham location, two suites available
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    • Contact for pricing
      118,000 SF

      Erwin Road Mixed-Use Retail Space

      Class A retail space in mixed-use development near Duke University.
      2812 Erwin Rd, Durham, NC 27705
      View Details
    • $14 SF/Yr
      117,906 SF

      North Pointe Retail Space Available

      Prime Durham retail space, 117,906 sq ft.
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      View Details
    • Contact for pricing
      71,652 SF

      Westside Bottling: Prime Retail Space

      Durham retail center: high-traffic, flexible space.
      3214 Hillsborough Rd, Durham, NC 27705
      View Details
    • $24 SF/Yr
      118,000 SF

      Erwin Terrace I Retail Space

      Durham, NC Corner Retail Space Available
      2816 Erwin Rd, Durham, NC 27705
      View Details
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    2108 Broad St
    Durham, NC 27705-3435
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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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