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Property profile & analytics
OFF-MARKET
Estimated value
$3,750,000
Office buildings
3401 Gtwy Ctr Blvd, Morrisville, NC 27560-8504
Entity Owned
10-yr Hold
Free & Clear
Property ID
US53-0970980
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2016
Construction
BRICK
Total area
15,293 SF
Lot
5.66 ac (246,550 SF)
Zoning code
ORD
APN
0756.02-85-3071 0239822
UPID
US53-0970980
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.42M
Comparable Approach
Comparable
$4.26M
Blend (final)
Blend
$3.75M
Owner & transaction history
3401 Gateway Centre LLC · 10 yrs held
3401 Gateway Centre LLC
since 2015
4 recorded transactions
Zoning & alternative use
ORD · Morrisville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$5.3M
+61.6%
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 Morrisville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morrisville 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%
$4,780,000
6.5%
$4,415,000
7%
$4,100,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,260,000
Current use
MEDICAL BUILDING
$5,270,000
Change: +62% · Conversion: Easy
Blend value · Realmo final
$3.75M
Range $3.38M – $4.13M · ±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
$245 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$47,146
Tax year 2023
Assessed value
$4,705,205
Assessed 2023
Previous assessed
$4,705,205
+0.0% YoY
Effective rate
1.00%
On assessed value
Assessed land
$1,143,992
Assessed improvement
$3,561,213
Land market value
$1,143,992
Improvement market value
$3,561,213
Total market value
$4,705,205
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2016
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Buildings
2
Stories
1
Total area
15,293 SF
Lot
5.66 ac (246,550 SF)
Zoning code
ORD
APN
0756.02-85-3071 0239822
UPID
US53-0970980
Jurisdiction
WAKE
Zoning & alternative use
ORD · Morrisville, NC
Zoning ORD · permitted uses
ORD · Morrisville, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Morrisville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$3.3M
MEDICAL BUILDING
Est. value
$5.3M
OFFICE BUILDING Current
MEDICAL 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
2016
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
2
Lot
5.66 ac
Current owner
From public records · entity-resolved
3401 Gateway Centre LLC
Entity
Free & Clear · 10 yrs held
Mailing address
3401 GTWY CTR BLVD, MORRISVILLE, NC 27560-8504
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 27, 2019
—
3401 Gateway Centre LLC
—
Deed
related
$2,924,694 · Towne Bk
Aug 5, 2015
$610,000
3401 Gateway Centre LLC
Wake Gateway LLC
Grant Deed
—
Aug 5, 2015
—
3401 Gateway Centre LLC
Wake Gateway LLC
Trustees Deed
related
$3,281,000 · Select Bk
—
—
3401 Gateway Centre LLC
—
Deed Of Trust
related
$2,924,694 · Towne Bk
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.
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