Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$6,080,000
Drug stores
3601 Davis Dr Morrisville, NC 27560-8845
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US53-0526077
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2007
Construction
BRICK
Total area
14,820 SF
Lot
2.16 ac (94,090 SF)
Zoning code
NAC
APN
0745.03-43-8676 0368379
UPID
US53-0526077
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
$6.06M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.08M
Owner & transaction history
Mcm Wags III LLC · 3 yrs held
Mcm Wags III LLC
since 2023
Last sale
$6.0M
3 recorded transactions
Zoning & alternative use
NAC · Morrisville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$8.8M
+27.9%
Neighborhood: shopping center
$8.2M
+19.3%
Restaurant
$7.7M
+12.7%
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 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
$6,220,000
ML approach
$6,060,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$6,850,000
Current use
COMMERCIAL (GENERAL)
$8,760,000
Change: +28% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$8,165,000
Change: +19% · Conversion: Moderate
RESTAURANT
$7,720,000
Change: +13% · Conversion: Easy
AUTO REPAIR, GARAGE
$6,260,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$6.08M
Range $5.47M – $6.69M · ±10% · vs last sale $6.02M (Jun 13 2023)
Last sale anchor
$6.02M
Jun 13 2023
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
$410 / 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
$61,054
Tax year 2023
Assessed value
$5,702,387
Assessed 2023
Previous assessed
$5,702,387
+0.0% YoY
Effective rate
1.07%
On assessed value
Assessed land
$1,331,514
Assessed improvement
$4,370,873
Land market value
$1,331,514
Improvement market value
$4,370,873
Total market value
$5,702,387
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
2007
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
14,820 SF
Lot
2.16 ac (94,090 SF)
Zoning code
NAC
APN
0745.03-43-8676 0368379
UPID
US53-0526077
Jurisdiction
WAKE
Zoning & alternative use
NAC · Morrisville, NC
Zoning NAC · permitted uses
NAC · 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
RETAIL STORES Current
Est. value
$6.9M
COMMERCIAL (GENERAL)
Est. value
$8.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$8.2M
RESTAURANT
Est. value
$7.7M
AUTO REPAIR, GARAGE
Est. value
$6.3M
RETAIL STORES Current
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
AUTO REPAIR, GARAGE
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
2007
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
2.16 ac
Current owner
From public records · entity-resolved
Mcm Wags III LLC
Entity
Mailing address
4521 SHARON RD STE #275, CHARLOTTE, NC 28211-3627
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 13, 2023
$6,023,000
Mcm Wags III LLC
Jubillee Morrisville LLC
Special Warranty Deed
$3,400 · Mcm Holdings INC
Aug 4, 2014
$7,810,000
Jubilee Morrisville LLC
Morrisville Investments LLC
Grant Deed
related
$4,150,000 · Morgan Stanley Bk
Nov 3, 2009
$5,430,000
Morrisville Investments LLC
Southstar Holdings-durham II L
Warranty Deed
$3,819,000 · Wells Fargo Bk No #2009-n (ce)
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 3601 Davis Dr?
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.
