Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2223 Nc Hwy 54 Durham, NC 27713-5233

    • Super regional malls
    • 24,767 SF
    • 2.66 lot acres
    OFF-MARKET
    Last Sale
    Jun 20, 2023
    $4,600,000
    Value Estimations
    $5,245,000
    Show details
    Cap Rate Potential
    6.4%
    Super regional malls
    Location Intelligence
    Property ID
    US53-3259512
    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

    • Super regional malls

    Property Details for 2223 Nc Hwy 54

    Year built
    1988
    Lot size
    2.66 lot acres
    Property size
    24,767 SF
    Zone code
    CN
    Property type
    Super regional malls
    APN
    154159
    APU
    154159

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,735,000
      ML approach
      $5,690,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $6,080,000
      6.5%
      $5,610,000
      7%
      $5,210,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $4,200,000
      AUTO REPAIR, GARAGE
      $3,450,000
      RESTAURANT
      $3,440,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Durham
    County
    Durham
    State
    North Carolina
    Longitude
    -78.8915
    Latitude
    35.9016
    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
    $41,005
    $875,079
    $2,064,533
    $2,939,612
    -
    $875,079
    $2,064,533
    $2,939,612

    Comparable in this City

    • Value Estimation
      $1,475,000
      177,540 SF

      6950 Fayetteville Rd

      REGIONAL SHOPPING CENTER, MALL • 177,540 SF
      6950 Fayetteville Rd, Durham, NC 27713
      View Details
    • Value Estimation
      $2,285,000
      118,084 SF

      7021 Fayetteville Rd

      REGIONAL SHOPPING CENTER, MALL • 118,084 SF
      7021 Fayetteville Rd, Durham, NC 27713
      View Details
    • Value Estimation
      $1,815,000
      164,581 SF

      105 Nc Hwy 54

      REGIONAL SHOPPING CENTER, MALL • 164,581 SF
      105 Nc Hwy 54, Durham, NC 27713-6646
      View Details
    • Value Estimation
      $1,270,000
      140,198 SF

      6940 Fayetteville Rd

      REGIONAL SHOPPING CENTER, MALL • 140,198 SF
      6940 Fayetteville Rd, Durham, NC 27713
      View Details
    • Value Estimation
      $1,825,000
      104,518 SF

      202 Nc Hwy 54

      REGIONAL SHOPPING CENTER, MALL • 104,518 SF
      202 Nc Hwy 54, Durham, NC 27713-7563
      View Details
    • Value Estimation by Request
      2,920 SF

      2108 Nc Hwy 54

      REGIONAL SHOPPING CENTER, MALL • 2,920 SF
      2108 Nc Hwy 54, Durham, NC 27713-2206
      View Details

    Similar Nearby for Sale

    • $12,750,000
      77,274 SF

      Park City East Office Building

      Durham, NC Office - Prime Location
      2224 Nc-54, Durham, NC 27713
      View Details
    • $6,000,000
      27.89 Acres

      South Durham Land Opportunity

      27.89 acres in South Durham, suitable for estate or development.
      38 Chatham Glen Dr, Durham, NC 27713
      View Details
    • Contact for pricing
      3.79 Acres

      Durham Commercial Land - 3.79 Acres

      Prime Durham County commercial land, three parcels available.
      4402 Fayetteville Rd, Durham, NC 27713
      View Details
    • $1,600,000
      1.70 Acres

      Durham Commercial Land Opportunity

      1.7-Acre Prime Commercial Site in Durham
      1004 Nc-54, Durham, NC 27713
      View Details
    • $3,000,000
      33.48 Acres

      33 Acres Near Lake Jordan

      33 acres of land near Lake Jordan preservation lands.
      7571 Nc Highway 751, Durham, NC 27713
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      71,839 SF

      Retail Space in Durham Center

      Retail space for lease in a 71,839 SF shopping center.
      5410 Nc-55 Hwy, Durham, NC 27713
      View Details
    • Contact for pricing
      71,839 SF

      Greenwood Commons Retail Center

      Durham, NC Shopping Center - 2 Suites Available
      5410 Nc-55, Durham, NC 27713
      View Details
    • $3,232 /Mo
      1,168 SF

      Retail Space Near RTP

      Retail space in a vibrant neighborhood center near RTP.
      5125 Nc-55, Durham, NC 27713
      View Details
    • $28 SF/Yr
      9,600 SF

      Durham Retail Space - Suite 103

      Last Available Retail Suite in Durham
      5125 Nc-55, Durham, NC 27713
      View Details
    • Contact for pricing

      Former Auto Parts Store Available

      Located on NC-55, ideal for auto parts retail.
      Durham, NC 27713
      View Details
    • Contact for pricing
      85,602 SF

      Parkwest Crossing Retail Space

      Durham, NC retail space available.
      4900 Nc-55, Durham, NC 27713
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2223 Nc Hwy 54
    Durham, NC 27713-5233
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!