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Property profile & analytics
OFF-MARKET
Super regional malls
401 Lakewood Ave Durham, NC 27707-1700
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-1810542
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1985
Total area
69,258 SF
Lot
8.82 ac (384,199 SF)
Zoning code
DD-S1,DD-S2
APN
236965
UPID
US53-1810542
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
-
Taqueria Eva Y Gaby Restaurant
-
MoneyGram Bank Credit Union
-
Brickcity Cuts & Stlyz Clothing Store
-
Recovery Innovations Crisis Center Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Heritage Square Portfolio LLC · 4 yrs held
Heritage Square Portfolio LLC
since 2022
Last sale
$41.2M
6 recorded transactions
Zoning & alternative use
DD-S1,DD-S2 · Durham, 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 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$73,318
Tax year 2024
Assessed value
$5,256,124
Assessed 2024
Previous assessed
$5,256,124
+0.0% YoY
Effective rate
1.39%
On assessed value
Assessed land
$1,560,116
Assessed improvement
$3,696,008
Land market value
$1,560,116
Improvement market value
$3,696,008
Total market value
$5,256,124
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
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
Off-Market
Year built
1985
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
69,258 SF
Lot
8.82 ac (384,199 SF)
Zoning code
DD-S1,DD-S2
APN
236965
UPID
US53-1810542
Jurisdiction
DURHAM
Zoning & alternative use
DD-S1,DD-S2 · Durham, NC
Zoning DD-S1,DD-S2 · permitted uses
DD-S1,DD-S2 · 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.
Building & site characteristics
From public records
Year built
1985
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
8.82 ac
Current owner
From public records · entity-resolved
Heritage Square Portfolio LLC
Entity
Mailing address
333 N GRN ST STE #1100, CHICAGO, IL 60607-0044
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 27, 2022
$41,245,500
Heritage Square Portfolio LLC
401 E Lakewood LLC
Special Warranty Deed
$49,725,000 · Acore Capital Mortgage LP
Jun 27, 2022
—
Heritage Square Portfolio LLC
401 E Lakewood LLC
Warranty Deed
—
Dec 17, 2021
—
Family Dollar Stores Of Nc INC
401 E Lakewood LLC
Lease
—
Mar 13, 2019
$7,676,000
401 E Lakewood LLC
Heritage Square Invs LLC
Grant Deed
$6,453,113 · James Tracey
Oct 17, 2007
$4,000,000
Heritage Square Investments LLC
Heritage Square Associates LP
Warranty Deed
—
—
—
Heritage Square Investments Ll
—
Deed Of Trust
related
$2,700,000 · Self-help Cu
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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