Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3128 Geer St Durham, NC 27704-3852

    • Office buildings
    • 960 SF
    • 0.46 lot acres
    OFF-MARKET
    Value Estimations
    $260,000
    Show details
    Cap Rate Potential
    5.8%
    Office buildings
    Location Intelligence
    Property ID
    US53-5645374
    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

    • Cayton Contracting Co / General Contractor
    • Concrete Hippo / General Contractor
    • Carolina Concrete Constructors, Inc. / General Contractor
    • Durham Concrete Company / General Contractor / Road Construction Company
    • Buy On The Spot / Real Estate Agency

    Property Details for 3128 Geer St

    Year built
    1971
    Lot size
    0.46 lot acres
    Property size
    960 SF
    Zone code
    CN
    Property type
    Office buildings
    APN
    171063
    APU
    171063

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $270,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $265,000
      6.5%
      $245,000
      7%
      $225,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $165,000
      Current use
      AUTO REPAIR, GARAGE
      $280,000
      Change: +68% Conversion: Difficult
      RETAIL STORES
      $235,000
      Change: +41% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $195,000
      Change: +16% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Durham
    County
    Durham
    State
    North Carolina
    Longitude
    -78.8189
    Latitude
    36.0396
    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
    $1,052
    $21,525
    $83,392
    $104,917
    -
    $21,525
    $83,392
    $104,917

    Comparable in this City

    • Value Estimation
      $1,085,000
      69,960 SF

      120 William Penn Plz

      PROFESSIONAL BUILDING • 69,960 SF
      120 William Penn Plz, Durham, NC 27704-2150
      View Details
    • Value Estimation
      $785,000
      3,281 SF

      4115 Capitol St

      PROFESSIONAL BUILDING • 3,281 SF
      4115 Capitol St, Durham, NC 27704-2153
      View Details
    • Value Estimation
      $740,000
      2,980 SF

      4119 Capitol St

      PROFESSIONAL BUILDING • 2,980 SF
      4119 Capitol St, Durham, NC 27704-2153
      View Details
    • Value Estimation
      $435,000
      6,945 SF

      4116 Capitol St

      PROFESSIONAL BUILDING • 6,945 SF
      4116 Capitol St, Durham, NC 27704-2152
      View Details
    • Value Estimation
      $365,000
      5,600 SF

      4113 Capitol St

      PROFESSIONAL BUILDING • 5,600 SF
      4113 Capitol St, Durham, NC 27704-2390
      View Details
    • Value Estimation
      $2,715,000
      18,664 SF

      2609 Duke St Ste, Unit 700

      PROFESSIONAL BUILDING • 18,664 SF
      2609 Duke St Ste, Durham, NC 27704-3019
      View Details

    Similar Nearby for Sale

    • $3,499,000
      21,532 SF

      Colonial Square Office/Medical Building

      Multi-functional commercial building in Durham's Independence Park.
      4400 Ben Franklin Blvd, Durham, NC 27704
      View Details
    • Contact for pricing
      41,588 SF

      Durham Medical Office Condos

      Three Class A condos, 2024 renovation
      4020 Roxboro St, Durham, NC 27704
      View Details
    • Contact for pricing
      1,765 SF

      Durham Office Suites: Prime Location

      Executive offices, great rates, ample parking.
      4210 Roxboro St, Durham, NC 27704
      View Details
    • Contact for pricing
      2,640 SF

      Durham Industrial Property - 2640 SF

      Versatile flex space; ideal auto shop or distribution.
      901 Trinity Ave, Durham, NC 27704
      View Details
    • $99,900
      1.41 Acres

      Durham Land Near Falls Lake

      1.41 acres of wooded land zoned for residential use.
      4300-4304 Cheek Rd, Durham, NC 27704
      View Details
    • $65,000
      69 SF

      Durham County Land For Sale

      69.34 acres of land in eastern Durham County.
      4802 Cheek Rd, Durham, NC 27704
      View Details

    Similar Nearby for Lease

    • $23 SF/Yr
      79,440 SF

      Class A Office Space

      Class A office space for lease in North Durham.
      4321 Medical Park Dr, Durham, NC 27704
      View Details
    • $60 SF/Yr
      10,527 SF

      Durham Executive Suites For Lease

      Modern Durham office suites, short-term options available.
      4210 Roxboro St, Durham, NC 27704
      View Details
    • Contact for pricing
      392,000 SF

      Welcome Venture Park: Durham, NC

      Large Industrial/Office Space Available
      1539 Hamlin Rd, Durham, NC 27704
      View Details
    • $18 SF/Yr
      Pending

      Prime Medical Office Space Available

      Versatile medical/office space in Durham's thriving North Duke corridor.
      2609 N Duke St Unit Bldg 300, Durham, NC 27704
      View Details
    • Contact for pricing
      41,558 SF

      Durham Medical Office Condos for Lease

      Modern medical suites, North Durham, NC
      4020 Roxboro St, Durham, NC 27704
      View Details
    • $23 SF/Yr
      4,769 SF

      Durham Medical/Office Building for Lease

      Freestanding 4,769 SF building suitable for medical or office use.
      110 E Carver St, Durham, NC 27704
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3128 Geer St
    Durham, NC 27704-3852
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.