Individually Owned Property summary
AI-generated overview
The property is a first-floor office condominium in Durham, North Carolina, configured as a 478-square-foot unit designed for business use. The space was recently remodeled and includes updated interior finishes such as new paint, flooring, ceilings, and light fixtures, along with a remodeled bathroom and kitchenette. It also features updated building systems and components, including an exhaust fan, replaced/updated windows, and a new HVAC system, and it has a kitchen appliance package that includes a refrigerator. Access is provided directly from the adjacent parking lot, and the unit is located near major routes including Hwy 40 and I-885, with proximity to Lowes shopping plaza (about 2 miles), Research Triangle Park (about 4 miles), Southpoint Mall (about 5 miles), and downtown Durham (about 5 miles).
Property profile
Verified
Property type
Other office properties
Use group
CONDOMINIUM OFFICES
Year built
1988
Total area
881 SF
Zoning code
R-8
APN
156123
UPID
US53-0289105
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$235k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$170k
Owner & transaction history
since 2025
Last sale
$165,000
1 recorded transaction
Zoning & alternative use
R-8 · Durham, NC
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 6 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$170k
Value range
$153k – $187k
±10% around blend
Estimated value / SF
$193 / SF
Confidence
High
6 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
60
$153k
blend $170k
$187k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
881 SF
Year built
1988
Stories
1
APN
156123
Zoning
R-8
Assessed value
$68,761
Annual tax
$959
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$235k
Weighted, 6 comps · high confidence
Evidence
6 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
3.8 mi away · 800 SF
3.9 mi away · 811 SF
4.0 mi away · 1,000 SF
7.3 mi away · 625 SF
7.3 mi away · 625 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$170k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 67 sales
$284
-32%
Submarket 264 sales
$228
-16%
County 272 sales
$230
-16%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $193/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 6 sales
Market rates by use type
PDF export
Professional Plan · 30 reports
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$165k
Move the market yield to see immediate price impact.
Value / SF
$187
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$10k
$208k
$149k
$116k
$12k
$231k
$165k
$128k
$13k
$254k
$181k
$141k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
6 found
High confidence · county-verified
Closest comparable
$250k
2.8 mi · Apr 2026 · $272/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$959
Tax year 2024
Assessed value
$68,761
Assessed 2024
Previous assessed
$68,761
+0.0% YoY
Effective rate
1.39%
On assessed value
Assessed improvement
$68,761
Improvement market value
$68,761
Total market value
$68,761
Applied tax rate
1.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Other office properties
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
1988
Heating
YES
Cooling
YES
Stories
1
Total area
881 SF
Zoning code
R-8
APN
156123
UPID
US53-0289105
Jurisdiction
DURHAM
Zoning & alternative use
R-8 · Durham, NCZoning R-8 · permitted uses
R-8 · Durham, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
1988
Heating
YES
Cooling
Yes
Stories
1
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
R-8
Jurisdiction
Durham, NC
Recorded code
R-8
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for R-8 in Durham, NC.
What opens after registration
Zoning profile
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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