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Property profile & analytics
OFF-MARKET
Estimated value
$1,300,000
Retail space
3401 University Dr Durham, NC 27707-2656
Entity Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-1448802
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1984
Total area
5,020 SF
Lot
0.47 ac (20,473 SF)
Zoning code
CN(D)
APN
123066
UPID
US53-1448802
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
-
MANCAVE BARBER SHOP Barber Shop
-
Whisk & Rye Bakery Specialty Food Shop
-
Green Dream Beds Furniture & Home Goods
-
Dog Stylist Inc Pet Grooming Service
-
Ink Still Dripping Tattoo & Piercing Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.64M
CAP Approach
CAP
$890k
Comparable Approach
Comparable
$1.06M
Blend (final)
Blend
$1.30M
Owner & transaction history
3401 University Drive LLC · 5 yrs held
3401 University Drive LLC
since 2020
Last sale
$1.3M
1 recorded transaction
Zoning & alternative use
CN(D) · Durham, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.1M
+73.7%
Apartment house (5+ units)
$2.0M
+57.9%
Auto repair, garage
$1.5M
+18.7%
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
$1,710,000
ML approach
$1,635,000
CAP Approach
CAP Return
Estimation
6%
$965,000
6.5%
$890,000
7%
$825,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,235,000
Current use
RESTAURANT
$2,140,000
Change: +74% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,950,000
Change: +58% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,465,000
Change: +19% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,215,000
Change: -1% · Conversion: Easy
Blend value · Realmo final
$1.30M
Range $1.17M – $1.43M · ±10% · vs last sale $1.25M (Dec 21 2020)
Last sale anchor
$1.25M
Dec 21 2020
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
$259 / 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
$6,434
Tax year 2023
Assessed value
$461,279
Assessed 2024
Previous assessed
$461,279
+0.0% YoY
Effective rate
1.39%
On assessed value
Assessed land
$173,281
Assessed improvement
$287,998
Land market value
$173,281
Improvement market value
$287,998
Total market value
$461,279
Applied tax rate
1.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1984
Heating
YES
Cooling
YES
Stories
1
Total area
5,020 SF
Lot
0.47 ac (20,473 SF)
Zoning code
CN(D)
APN
123066
UPID
US53-1448802
Jurisdiction
DURHAM
Zoning & alternative use
CN(D) · Durham, NC
Zoning CN(D) · permitted uses
CN(D) · Durham, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Durham. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.2M
RESTAURANT
Est. value
$2.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.0M
AUTO REPAIR, GARAGE
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.2M
RETAIL STORES Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1984
Heating
YES
Cooling
Yes
Stories
1
Lot
0.47 ac
Current owner
From public records · entity-resolved
3401 University Drive LLC
Entity
Free & Clear · 5 yrs held
Mailing address
11010 LK GRV BLVD STE #100313, MORRISVILLE, NC 27560-7391
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
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
Dec 21, 2020
$1,250,000
3401 University Drive LLC
Academy Court Properties LLC
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.
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