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Property profile & analytics
OFF-MARKET
Estimated value
$61,745,000
Office buildings
234 Crooked Crk Pkwy Durham, NC 27713-8505
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US53-1758284
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
2015
Total area
291,574 SF
Lot
7.98 ac (347,609 SF)
Zoning code
OI(D)
APN
149562
UPID
US53-1758284
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
-
Duke Nephrology Hospital
-
Duke Otolaryngology South Durham Medical Clinic Physician
-
Duke Children's Primary Care Southpoint Pediatrician Medical Clinic
-
Andrew R. Spector, MD Physician Medical Clinic
-
Duke Rheumatology South Durham Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$73.90M
Comparable Approach
Comparable
$69.73M
Blend (final)
Blend
$61.75M
Owner & transaction history
Vtr Ls Crooked Creek LP · 7 yrs held
Vtr Ls Crooked Creek LP
since 2019
5 recorded transactions
Zoning & alternative use
OI(D) · Durham, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$85.0M
+2.7%
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%
$80,055,000
6.5%
$73,895,000
7%
$68,620,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$82,805,000
Current use
AUTO REPAIR, GARAGE
$85,035,000
Change: +3% · Conversion: Difficult
RETAIL STORES
$71,660,000
Change: -13% · Conversion: Moderate
COMMERCIAL (GENERAL)
$70,665,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$61.75M
Range $55.57M – $67.92M · ±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
$212 / 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
$511,716
Tax year 2024
Assessed value
$36,684,776
Assessed 2024
Previous assessed
$36,684,776
+0.0% YoY
Effective rate
1.39%
On assessed value
Assessed land
$2,239,714
Assessed improvement
$34,445,062
Land market value
$2,239,714
Improvement market value
$34,445,062
Total market value
$36,684,776
Applied tax rate
1.0000
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
Office buildings
Use group
PROFESSIONAL BUILDING
Status
Off-Market
Year built
2015
Heating
YES
Cooling
YES
Stories
5
Total area
291,574 SF
Lot
7.98 ac (347,609 SF)
Zoning code
OI(D)
APN
149562
UPID
US53-1758284
Jurisdiction
DURHAM
Zoning & alternative use
OI(D) · Durham, NC
Zoning OI(D) · permitted uses
OI(D) · 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
OFFICE BUILDING Current
Est. value
$82.8M
AUTO REPAIR, GARAGE
Est. value
$85.0M
RETAIL STORES
Est. value
$71.7M
COMMERCIAL (GENERAL)
Est. value
$70.7M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
COMMERCIAL (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
2015
Heating
YES
Cooling
Yes
Stories
5
Lot
7.98 ac
Current owner
From public records · entity-resolved
Vtr Ls Crooked Creek LP
Entity
Mailing address
PO BOX 71970, PHOENIX, AZ 85050-1017
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 3, 2019
$80,500
Vtr Ls Crooked Creek LP
Pdc Crooked Creek LLC
Correction Deed
—
Jul 1, 2019
$80,500,000
Vtr Ls Crooked Creek LP
Pdc Crooked Creek LLC
Grant Deed
—
May 23, 2016
—
Pdc Crooked Creek LLC
—
Deed
related
$43,750,000 · First Citizens Bk
Feb 25, 2015
$2,400,000
Pdc Crooked Creek LLC
Hutson Betsy D
Grant Deed
—
—
—
Pdc Crooked Creek LLC
—
Deed Of Trust
related
$43,750,000 · First Citizens Bk
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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