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    Property profile & analytics

    2510 Meridian Pkwy Durham, NC 27713-2580

    • Office buildings
    • 65,423 SF
    • 8.51 lot acres
    OFF-MARKET
    Value Estimations
    $16,760,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-0077789
    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

    • Cerner Clairvia / Software Company
    • Thomas & Hutton Engineering Co. / Engineering Consultant

    Property Details for 2510 Meridian Pkwy

    Year built
    1990
    Lot size
    8.51 lot acres
    Property size
    65,423 SF
    Zone code
    OI
    Property type
    Office buildings
    APN
    154340
    APU
    154340

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $17,965,000
      6.5%
      $16,580,000
      7%
      $15,395,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $21,102,000
      Market price range: $10.0M - $23.5M
      AI Estimate
      $12,594,000
      Market price range: $7.04M - $16.2M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $18,580,000
      Current use
      RESTAURANT
      $27,920,000
      Change: +50% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $19,080,000
      Change: +3% Conversion: Difficult
      RETAIL STORES
      $16,080,000
      Change: -13% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $15,855,000
      Change: -15% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Durham
    County
    Durham
    State
    North Carolina
    Longitude
    -78.896
    Latitude
    35.9116
    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
    $154,872
    $1,145,742
    $9,956,956
    $11,102,698
    -
    $1,145,742
    $9,956,956
    $11,102,698

    Comparable in this City

    • Value Estimation by Request
      291,574 SF

      234 Crooked Crk Pkwy

      PROFESSIONAL BUILDING • 291,574 SF
      234 Crooked Crk Pkwy, Durham, NC 27713-8505
      View Details
    • Value Estimation
      $5,240,000
      25,982 SF

      2500 Meridian Pkwy

      OFFICE BUILDING • 25,982 SF
      2500 Meridian Pkwy, Durham, NC 27713-5255
      View Details
    • Value Estimation
      $2,810,000
      22,798 SF

      1910 Sedwick Rd

      OFFICE BUILDING • 22,798 SF
      1910 Sedwick Rd, Durham, NC 27713-7807
      View Details
    • Value Estimation
      $1,140,000
      8,876 SF

      1912 Nc Hwy 54

      OFFICE BUILDING • 8,876 SF
      1912 Nc Hwy 54, Durham, NC 27713-2235
      View Details
    • Value Estimation
      $8,270,000
      43,936 SF

      1 Triangle Dr

      OFFICE BUILDING • 43,936 SF
      1 Triangle Dr, Durham, NC 27713-2849
      View Details
    • Value Estimation
      $15,020,000
      198,712 SF

      1000 Park 40th Plz

      OFFICE BUILDING • 198,712 SF
      1000 Park 40th Plz, Durham, NC 27713-5249
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      Two-building Class A office campus with modern indoor/outdoor workspaces.
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      Modern office building near Research Triangle Park with Class A amenities.
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    • $750,000
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      Office condominium in Durham, convenient location near major points.
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      Durham, NC Office - Prime Location
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    Similar Nearby for Lease

    • $21 SF/Yr
      54,376 SF

      Prime Durham Office Space

      Modern Executive Suites in RTP
      2530 Meridian Pkwy 2 &, Durham, NC 27713
      View Details
    • $26 SF/Yr
      18,395 SF

      Office/Medical Building Near Southpoint Mall

      Single-story office/medical building near Southpoint Mall available for lease.
      5501 Fortunes Ridge Dr, Durham, NC 27713
      View Details
    • $45,045
      2,145 SF

      Durham Office Space For Lease

      Flexible office unit with ample parking and recent upgrades.
      1906 A, Durham, NC 27713
      View Details
    • $29,460
      22,649 SF

      Prime Durham Office Space Available

      12,000 SF office space for lease in Durham, NC.
      5310 S Alston Ave, Durham, NC 27713
      View Details
    • Contact for pricing
      3,037 SF

      Durham Medical Office Suite for Lease/Sale

      Prime Durham medical office space available.
      249 Nc Highway 54, Durham, NC 27713
      View Details
    • $4,500 /Mo
      Pending

      Durham Flex Space For Rent

      Flex space with accessibility to the Greater Triangle Area.
      2528 S Alston Ave, Durham, NC 27713
      View Details
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    2510 Meridian Pkwy
    Durham, NC 27713-2580
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    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
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