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Property profile & analytics
OFF-MARKET
Commercial real estate
2406 Hart St Durham, NC 27703-4148
Trust Owned
9-yr Hold
Free & Clear
Property ID
US53-0295639
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1972
Total area
960 SF
Lot
0.14 ac (6,098 SF)
Zoning code
RU-5
APN
114294
UPID
US53-0295639
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Durham Community Land Trustees · 9 yrs held
Durham Community Land Trustees
since 2016
3 recorded transactions
Zoning & alternative use
RU-5 · Durham, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The RU Districts are established to provide for orderly urban residentialdevelopmentand redevelopment. A limited number of nonresidential uses are allowed, subject to the restrictions necessary to preserve the character of the urban neighborhood. Such uses should have convenient access to arterial streets and nearby civic, commercial or employment uses.
Zone name
Residential Urban 5
General category
CIVIC_INSTITUTIONAL
Zone area
4,636.82 ac
Source
Realmo
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$83,769
Assessed 2023
Previous assessed
$83,769
+0.0% YoY
Assessed land
$25,650
Assessed improvement
$58,119
Land market value
$25,650
Improvement market value
$58,119
Total market value
$83,769
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1972
Heating
BASEBOARD
Cooling
YES
Stories
1
Rooms
5
Bathrooms
1
Total area
960 SF
Lot
0.14 ac (6,098 SF)
Zoning code
RU-5
APN
114294
UPID
US53-0295639
Jurisdiction
DURHAM
Zoning & alternative use
RU-5 · Durham, NCZoning RU-5 · permitted uses
RU-5 · Durham, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The RU Districts are established to provide for orderly urban residentialdevelopmentand redevelopment. A limited number of nonresidential uses are allowed, subject to the restrictions necessary to preserve the character of the urban neighborhood. Such uses should have convenient access to arterial streets and nearby civic, commercial or employment uses.
Zone name
Residential Urban 5
General category
CIVIC_INSTITUTIONAL
Zone area
4,636.82 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1972
Heating
BASEBOARD
Cooling
Yes
Stories
1
Rooms
5
Bathrooms
1
Lot
0.14 ac
Current owner
From public records · entity-resolved
Durham Community Land Trustees
Trust
Free & Clear · 9 yrs held
Mailing address
1208 W CHAPEL HL ST, DURHAM, NC 27701-3002
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 22, 2020
—
Durham Cmnty Land Trustees INC
—
Deed
related
$1,929,000 · Self-help Ventures Fnd
Dec 21, 2016
$881,500
Durham Community Land Trustees
Lee Ray Berman LLC
Warranty Deed
—
—
—
Durham Cmnty Land Trustees INC
—
Deed Of Trust
related
$1,929,000 · Self-help Ventures Fnd
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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