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Property profile & analytics
FOR LEASE
Office buildings
2450 Perimeter Park Dr, Morrisville, NC 27560
Entity Owned
6-yr Hold
Free & Clear
Property ID
US53-1477425
For Lease
$10,530,000
2450 Perimeter Park Dr, Morrisville, NC 27560
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2001
Total area
53,861 SF
Lot
4.97 ac (216,493 SF)
Zoning code
OI
APN
0746.04-94-8260 0250787
UPID
US53-1477425
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
$12.16M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$9.81M
Blend (final)
Blend
$10.53M
Owner & transaction history
Durham Perimeter Park 3 LLC · 6 yrs held
Durham Perimeter Park 3 LLC
since 2020
Last sale
$9.4M
4 recorded transactions
Zoning & alternative use
OI · Morrisville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Morrisville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morrisville 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
$11,975,000
ML approach
$12,160,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$11,480,000
Current use
Blend value · Realmo final
$10.53M
Range $9.48M – $11.58M · ±10% · vs last sale $9.36M (Jan 31 2020)
Last sale anchor
$9.36M
Jan 31 2020
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
$196 / 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
Tax billed
$87,868
Tax year 2023
Assessed value
$8,115,370
Assessed 2023
Previous assessed
$8,115,370
+0.0% YoY
Effective rate
1.08%
On assessed value
Assessed land
$1,314,628
Assessed improvement
$6,800,742
Land market value
$1,314,628
Improvement market value
$6,800,742
Total market value
$8,115,370
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
OFFICE BUILDING
Status
For Lease
Year built
2001
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
53,861 SF
Lot
4.97 ac (216,493 SF)
Zoning code
OI
APN
0746.04-94-8260 0250787
UPID
US53-1477425
Jurisdiction
WAKE
Zoning & alternative use
OI · Morrisville, NC
Zoning OI · permitted uses
OI · Morrisville, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Morrisville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$11.5M
OFFICE BUILDING Current
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
2001
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
4.97 ac
Current owner
From public records · entity-resolved
Durham Perimeter Park 3 LLC
Entity
Free & Clear · 6 yrs held
Mailing address
60 STATE ST STE #3500, BOSTON, MA 02109-1812
Ownership since
2020
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
Jan 31, 2020
$18,711
Durham Perimeter Park 3 LLC
2450 Perimeter Park Dr LP Sre
Grant Deed
—
Oct 7, 2016
$6,917,000
Sre 2450 Perimeter Park Dr LP
Svt 2450 Perimeter Park Drive
Grant Deed
—
Oct 7, 2016
—
Sre 2450 Perimeter Park Dr LP
Svt 2450 Perimeter Park Drive
Grant Deed
related
—
Apr 14, 2015
$5,865,000
Svt 2450 Perimeter Park Drive
Duke Realty LP
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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