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Property profile & analytics
OFF-MARKET
Estimated value
$5,000,000
Industrial properties
4233 Technology Dr, Durham, NC 27704-2173
Entity Owned
8-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-0059932
Property profile
Verified
Property type
Industrial properties
Use group
MIXED USE (COMMERCIAL/INDUSTRIAL)
Year built
1997
Total area
20,000 SF
Lot
4.1 ac (178,596 SF)
Zoning code
OI(D)
APN
172224
UPID
US53-0059932
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
-
Argos Therapeutics Inc Law Firm
-
Benecyte, Inc. Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.16M
Comparable Approach
Comparable
$6.07M
Blend (final)
Blend
$5.00M
Owner & transaction history
Cmk2 Durham 4233 LLC · 8 yrs held
Cmk2 Durham 4233 LLC
since 2018
6 recorded transactions
Zoning & alternative use
OI(D) · Durham, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$6.4M
+59.6%
Auto repair, garage
$5.8M
+44.9%
Retail stores
$4.9M
+22.1%
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%
$4,500,000
6.5%
$4,155,000
7%
$3,855,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$4,025,000
Current use
APARTMENT HOUSE (5+ UNITS)
$6,425,000
Change: +60% · Conversion: Moderate
AUTO REPAIR, GARAGE
$5,835,000
Change: +45% · Conversion: Difficult
RETAIL STORES
$4,915,000
Change: +22% · Conversion: Easy
INDUSTRIAL (GENERAL)
$3,480,000
Change: -14% · Conversion: Moderate
OFFICE BUILDING
$3,475,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$5.00M
Range $4.50M – $5.50M · ±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
$250 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$59,295
Tax year 2024
Assessed value
$4,250,857
Assessed 2024
Previous assessed
$4,250,857
+0.0% YoY
Effective rate
1.39%
On assessed value
Assessed land
$891,800
Assessed improvement
$3,359,057
Land market value
$891,800
Improvement market value
$3,359,057
Total market value
$4,250,857
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
Industrial properties
Use group
MIXED USE (COMMERCIAL/INDUSTRIAL)
Status
Off-Market
Year built
1997
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
20,000 SF
Lot
4.1 ac (178,596 SF)
Zoning code
OI(D)
APN
172224
UPID
US53-0059932
Jurisdiction
DURHAM
Zoning & alternative use
OI(D) · Durham, NC
Zoning OI(D) · permitted uses
OI(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
COMMERCIAL (GENERAL) Current
Est. value
$4.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$6.4M
AUTO REPAIR, GARAGE
Est. value
$5.8M
RETAIL STORES
Est. value
$4.9M
INDUSTRIAL (GENERAL)
Est. value
$3.5M
OFFICE BUILDING
Est. value
$3.5M
COMMERCIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
RETAIL STORES
INDUSTRIAL (GENERAL)
OFFICE BUILDING
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
1997
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
4.1 ac
Current owner
From public records · entity-resolved
Cmk2 Durham 4233 LLC
Entity
Free & Clear · 8 yrs held
Mailing address
181 W MADISON ST STE #4700, CHICAGO, IL 60602-4584
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
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
May 11, 2018
$4,350,000
Cmk2 Durham 4233 LLC
Durham 4233 Medical Properties LLC
Deed
—
Jan 4, 2016
—
Durham 4233 Medical Props LLC
Durham 4204 Medical Props LLC
Quit Claim Deed
related
—
Feb 13, 2013
—
Hcp Mop Durham Nc LLC
Hcp Mop 4233 Durham Nc LP
Quit Claim Deed
related
—
May 10, 2004
$3,782,500
Cnl Retirement Mop 4233 Durham
4233 Technology Drive LLC
Grant Deed
related
—
Apr 30, 2004
$3,782,500
Cnl Retirement Mop 4233 Durham
4233 Technology
Grant Deed
related
—
Feb 22, 2002
—
Gary M Hock
Gmh,independ
Grant Deed
related
—
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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