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Property profile & analytics
OFF-MARKET
Estimated value
$5,535,000
Warehouses
2335 Presidential Dr Durham, NC 27703-8063
Entity Owned
16-yr Hold
~
Est. High Equity
Property ID
US53-0066227
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1999
Total area
46,421 SF
Lot
3.6 ac (156,816 SF)
Zoning code
IL
APN
157337
UPID
US53-0066227
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
-
The Summit Church - Brier Creek Campus Church
-
Heritage Leadership Academy-NC High School
-
Rick's Office Corporate Office
-
Dr. Bryan Loritts Charitable Organization Volunteer Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.08M
Comparable Approach
Comparable
$5.64M
Blend (final)
Blend
$5.54M
Owner & transaction history
Church Homestead Height Summit · 16 yrs held
Church Homestead Height Summit
since 2010
4 recorded transactions
Zoning & alternative use
IL · Durham, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$8.1M
+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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$5,505,000
6.5%
$5,080,000
7%
$4,720,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$6,925,000
Current use
INDUSTRIAL (GENERAL)
$8,070,000
Change: +17% · Conversion: Easy
Blend value · Realmo final
$5.54M
Range $4.98M – $6.09M · ±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
$119 / 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
Assessed value
$5,738,433
Assessed 2023
Previous assessed
$5,738,433
+0.0% YoY
Assessed land
$506,100
Assessed improvement
$5,232,333
Land market value
$506,100
Improvement market value
$5,232,333
Total market value
$5,738,433
Applied tax rate
55.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1999
Heating
YES
Cooling
YES
Stories
1
Total area
46,421 SF
Lot
3.6 ac (156,816 SF)
Zoning code
IL
APN
157337
UPID
US53-0066227
Jurisdiction
DURHAM
Zoning & alternative use
IL · Durham, NC
Zoning IL · permitted uses
IL · 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
$6.9M
INDUSTRIAL (GENERAL)
Est. value
$8.1M
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
1999
Heating
YES
Cooling
Yes
Stories
1
Lot
3.6 ac
Current owner
From public records · entity-resolved
Church Homestead Height Summit
Entity
Mailing address
2335114 PRESIDENTIAL DR, DURHAM, NC 27703
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 27, 2018
—
Homestead Heights Baptist Church In
—
Deed
related
$76,000,000 · First Citizens Bank & Trust Co
Oct 24, 2011
—
Summit Church-homestead Height
—
Deed Of Trust
related
$11,400,000 · Reliance Trust Co
Mar 9, 2010
$3,576,500
Church Homestead Height Summit
Raleigh Portfolio As LLC
Grant Deed
$11,270,000 · Reliance Trust
Jan 18, 2006
$2,649,500
Raleigh Portfolio As LLC
Parker Raleigh Development
Grant Deed
—
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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