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Property profile & analytics
OFF-MARKET
Estimated value
$1,855,000
Distribution centers
3615 Pleasant Grv Church Rd, Morrisville, NC 27560-8962
Entity Owned
2-yr Hold
Free & Clear
Property ID
US53-3595097
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
2022
Construction
FRAME
Total area
120,000 SF
Lot
4.77 ac (207,781 SF)
Zoning code
ORDCU
APN
0757.01-38-3772 0074191
UPID
US53-3595097
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
$2.48M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.86M
Owner & transaction history
Proto Labs INC · 2 yrs held
Proto Labs INC
since 2023
Last sale
$1.5M
3 recorded transactions
Zoning & alternative use
ORDCU · Morrisville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$1,945,000
ML approach
$2,480,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.86M
Range $1.67M – $2.04M · ±10% · vs last sale $1.50M (Oct 18 2021)
Last sale anchor
$1.50M
Oct 18 2021
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
$15 / 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
$50,956
Tax year 2023
Assessed value
$3,572,493
Assessed 2023
Previous assessed
$3,572,493
+0.0% YoY
Effective rate
1.43%
On assessed value
Assessed land
$482,052
Assessed improvement
$3,090,441
Land market value
$482,052
Improvement market value
$3,090,441
Total market value
$3,572,493
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
2022
Construction
FRAME
Heating
NONE
Cooling
NONE
Stories
1
Rooms
7
Bathrooms
1
Total area
120,000 SF
Lot
4.77 ac (207,781 SF)
Zoning code
ORDCU
APN
0757.01-38-3772 0074191
UPID
US53-3595097
Jurisdiction
WAKE
Zoning & alternative use
ORDCU · Morrisville, NC
Zoning ORDCU · permitted uses
ORDCU · 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.
Building & site characteristics
From public records
Year built
2022
Construction
FRAME
Heating
NONE
Cooling
Yes
Stories
1
Rooms
7
Bathrooms
1
Lot
4.77 ac
Current owner
From public records · entity-resolved
Proto Labs INC
Entity
Free & Clear · 2 yrs held
Mailing address
1501 SUNRISE AVE STE #100, RALEIGH, NC 27608-2689
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
Dec 7, 2023
$16,247,500
Proto Labs INC
Pleasant Grove Warehouse LLC
Special Warranty Deed
—
Oct 18, 2021
$1,500,000
Pleasant Grove Warehouse LLC
Page Road Investments LLC
Special Warranty Deed
$10,786,000 · First Horizon Bank
Sep 5, 2008
$732,000
Page Road Investments LLC
Ward,marvin L JR & Carolyn
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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