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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3216 Alston Ave Durham, NC 27713-1514

    • Warehouses
    • 6,000 SF
    • 1.03 lot acres
    OFF-MARKET
    Last Sale
    Dec 30, 2020
    $750,000
    Value Estimations
    $875,000
    Show details
    Cap Rate Potential
    4.2%
    Warehouses
    Location Intelligence
    Property ID
    US53-0868307
    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

    • Vero Diagnostics / Medical Laboratory
    • Air-Tech Environmental / Environmental Organization
    • Environmental Quality Management / Environmental Consultant

    Property Details for 3216 Alston Ave

    Year built
    2004
    Lot size
    1.03 lot acres
    Property size
    6,000 SF
    Zone code
    OI
    Property type
    Warehouses
    APN
    156372
    APU
    156372

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,025,000
      ML approach
      $980,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $710,000
      6.5%
      $655,000
      7%
      $610,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $766,000
      Market price range: $665k - $1.35M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $895,000
      Current use
      OFFICE BUILDING
      $1,705,000
      Change: +90% Conversion: Difficult
      RETAIL STORES
      $1,475,000
      Change: +65% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $1,455,000
      Change: +62% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $1,045,000
      Change: +17% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Durham
    County
    Durham
    State
    North Carolina
    Longitude
    -78.8839
    Latitude
    35.9408
    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
    $5,215
    $127,000
    $246,890
    $373,890
    -
    $127,000
    $246,890
    $373,890

    Comparable in this City

    • Value Estimation
      $1,145,000
      86,328 SF

      3223 Nc Hwy 55

      MINI-WAREHOUSE, STORAGE • 86,328 SF
      3223 Nc Hwy 55, Durham, NC 27713-1596
      View Details
    • Value Estimation
      $1,070,000
      145,410 SF

      3751 Alston Ave

      WAREHOUSE, STORAGE • 145,410 SF
      3751 Alston Ave, Durham, NC 27713-1803
      View Details
    • Value Estimation
      $965,000
      169,662 SF

      2519 Tricenter Blvd

      WAREHOUSE, STORAGE • 169,662 SF
      2519 Tricenter Blvd, Durham, NC 27713-1853
      View Details
    • Value Estimation
      $1,185,000
      83,248 SF

      2425 Alston Ave

      WAREHOUSE, STORAGE • 83,248 SF
      2425 Alston Ave, Durham, NC 27713-1301
      View Details
    • Value Estimation by Request
      240,537 SF

      4357 Alston Ave

      WAREHOUSE, STORAGE • 240,537 SF
      4357 Alston Ave, Durham, NC 27713-2221
      View Details
    • Value Estimation
      $575,000
      13,793 SF

      3874 Alston Ave

      WAREHOUSE, STORAGE • 13,793 SF
      3874 Alston Ave, Durham, NC 27713-1881
      View Details

    Similar Nearby for Sale

    • $550,000
      Pending

      Durham Flex Space with Land

      Flex space with land ideal for light industrial use.
      2528 S Alston Ave, Durham, NC 27713
      View Details
    • $12,750,000
      77,274 SF

      Park City East Office Building

      Durham, NC Office - Prime Location
      2224 Nc-54, Durham, NC 27713
      View Details
    • $6,000,000
      27.89 Acres

      South Durham Land Opportunity

      Just under 28 acres in a desirable Durham location.
      38 Chatham Glen Dr, Durham, NC 27713
      View Details
    • Contact for pricing
      0.10 Acres

      Durham Office Suite - I-40 Access

      Prime South Durham office, utilities included.
      1906 Nc 54 Hwy, Durham, NC 27713
      View Details
    • Contact for pricing
      151,376 SF

      Class A Office Campus Redevelopment

      Two-building Class A office campus with modern indoor/outdoor workspaces.
      2222 Nc 54, Durham, NC 27713
      View Details
    • $330,000

      Durham Land Parcel For Sale

      0.41 acre land parcel in Durham's southern edge.
      7516 Massey Chapel Rd, Durham, NC 27713
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      7,824 SF

      Durham Industrial Flex Space

      7,824 SF Flex Warehouse For Lease
      4913 Alston Ave, 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
    • $4,950 /Mo
      5,979 SF

      Flex Space in Durham, NC

      Flex space with shared and dedicated lab spaces available.
      801 Capitola Dr, Durham, NC 27713
      View Details
    • $28 SF/Yr
      151,000 SF

      Park City Executive Office Suites

      Class A Office Space in Durham, NC
      2224 Chapel Hill-Nelson Hwy, Durham, NC 27713
      View Details
    • $28 SF/Yr
      9,600 SF

      Durham Retail Space - Suite 103

      Last Available Retail Suite in Durham
      5125 Nc-55, Durham, NC 27713
      View Details
    • Contact for pricing
      71,839 SF

      Greenwood Commons Retail Center

      Durham, NC Shopping Center - 2 Suites Available
      5410 Nc-55, Durham, NC 27713
      View Details
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    3216 Alston Ave
    Durham, NC 27713-1514
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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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