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Property profile & analytics
OFF-MARKET
Estimated value
$2,615,000
Sports & entertainment properties
406 Rigsbee Ave, Durham, NC 27701-2186
Entity Owned
Absentee Owner
Free & Clear
Property ID
US53-1522836
Property profile
Verified
Property type
Sports & entertainment properties
Use group
RECREATIONAL, ENTERTAINMENT
Year built
2005
Total area
32,897 SF
Lot
2.31 ac (100,624 SF)
Zoning code
DD-S1
APN
104968
UPID
US53-1522836
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
-
Durham Center For Senior Life Charitable Organization Social Service Agency
-
Senior Pharmassist Charitable Organization Social Service Agency
-
Gina Upchurch, RPH Pharmacy
-
Marilyn E. Disco, PharmD Pharmacy
-
Jessica L. Visco, PharmD Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.62M
Owner & transaction history
COUNTY DURHAM
COUNTY DURHAM
Zoning & alternative use
DD-S1 · Durham, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$3.6M
+60.6%
Office building
$3.5M
+54.6%
Retail stores
$3.3M
+48.8%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RECREATIONAL/ENTERTAINMENT (GENERAL)
$2,235,000
Current use
INDUSTRIAL (GENERAL)
$3,590,000
Change: +61% · Conversion: Difficult
OFFICE BUILDING
$3,455,000
Change: +55% · Conversion: Difficult
RETAIL STORES
$3,325,000
Change: +49% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,325,000
Change: +49% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,985,000
Change: +33% · Conversion: Difficult
Blend value · Realmo final
$2.62M
Range $2.35M – $2.88M · ±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
$79 / 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
Assessed value
$10,407,093
Assessed 2023
Previous assessed
$10,407,093
+0.0% YoY
Assessed land
$3,618,810
Assessed improvement
$6,788,283
Land market value
$3,618,810
Improvement market value
$6,788,283
Total market value
$10,407,093
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
Sports & entertainment properties
Use group
RECREATIONAL, ENTERTAINMENT
Status
Off-Market
Year built
2005
Heating
YES
Cooling
YES
Stories
2
Total area
32,897 SF
Lot
2.31 ac (100,624 SF)
Zoning code
DD-S1
APN
104968
UPID
US53-1522836
Jurisdiction
DURHAM
Zoning & alternative use
DD-S1 · Durham, NC
Zoning DD-S1 · permitted uses
DD-S1 · 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
RECREATIONAL/ENTERTAINMENT (GENERAL) Current
Est. value
$2.2M
INDUSTRIAL (GENERAL)
Est. value
$3.6M
OFFICE BUILDING
Est. value
$3.5M
RETAIL STORES
Est. value
$3.3M
AUTO REPAIR, GARAGE
Est. value
$3.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.0M
RECREATIONAL/ENTERTAINMENT (GENERAL) Current
INDUSTRIAL (GENERAL)
OFFICE BUILDING
RETAIL STORES
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
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
2005
Heating
YES
Cooling
Yes
Stories
2
Lot
2.31 ac
Current owner
From public records · entity-resolved
COUNTY DURHAM
Individual
Free & Clear · 0 yrs held
Mailing address
200 E MAIN ST, DURHAM, NC 27701-3649
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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