Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$645,000
Grocery and convenience stores
3302 Cheek Rd Durham, NC 27704-4950
Entity Owned
7-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-1955306
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1944
Total area
4,752 SF
Lot
0.46 ac (20,038 SF)
Zoning code
RR
APN
168143
UPID
US53-1955306
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
Current use
Occupant on record · Public records
-
E & B Discounts Grocery & Convenience Store
-
Embassy Insurance Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$566k
Blend (final)
Blend
$645k
Owner & transaction history
88 Investment Group LLC · 7 yrs held
88 Investment Group LLC
since 2019
1 recorded transaction
Zoning & alternative use
RR · Durham, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The RR District is established to provide for agricultural activities and residentialdevelopmenton lots of one acre or greater and in conservationsubdivisions. Commercial and industrialdevelopmentis generally prohibited.
Zone name
Residential Rural
General category
INDUSTRIAL
Zone area
4,712.76 ac
Source
Realmo
Top alternative use upside
Commercial (general)
$785,000
+916.0%
Auto repair, garage
$575,000
+642.1%
Office building
$465,000
+501.2%
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 Durham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Durham 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$785,000
Change: +916% · Conversion: Easy
AUTO REPAIR, GARAGE
$575,000
Change: +642% · Conversion: Difficult
OFFICE BUILDING
$465,000
Change: +501% · Conversion: Moderate
Blend value · Realmo final
$645k
Range $581k – $710k · ±10%
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
$136 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$2,042
Tax year 2024
Assessed value
$185,883
Assessed 2024
Previous assessed
$185,883
+0.0% YoY
Effective rate
1.10%
On assessed value
Assessed land
$34,425
Assessed improvement
$151,458
Land market value
$34,425
Improvement market value
$151,458
Total market value
$185,883
Applied tax rate
15.0000
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
1944
Heating
NONE
Cooling
YES
Stories
1
Total area
4,752 SF
Lot
0.46 ac (20,038 SF)
Zoning code
RR
APN
168143
UPID
US53-1955306
Jurisdiction
DURHAM
Zoning & alternative use
RR · Durham, NCZoning RR · permitted uses
RR · Durham, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The RR District is established to provide for agricultural activities and residentialdevelopmenton lots of one acre or greater and in conservationsubdivisions. Commercial and industrialdevelopmentis generally prohibited.
Zone name
Residential Rural
General category
INDUSTRIAL
Zone area
4,712.76 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$785,000
AUTO REPAIR, GARAGE
Est. value
$575,000
OFFICE BUILDING
Est. value
$465,000
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1944
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.46 ac
Current owner
From public records · entity-resolved
88 Investment Group LLC
Entity
Free & Clear · 7 yrs held
Mailing address
3310 N ROXBORO ST, DURHAM, NC 27704-3256
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 16, 2019
$185,000
88 Investment Group LLC
Arthur H Ferrell JR
Warranty 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 3302 Cheek Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
