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Property profile & analytics
OFF-MARKET
Parking lots & garages
4324 Apex Hwy Durham, NC 27713
Entity Owned
8-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-2417681
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING LOT
Lot
2.08 ac (90,605 SF)
Zoning code
CN(D)
APN
199551
UPID
US53-2417681
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Bri 1877 Meridian Dev II LLC · 8 yrs held
Bri 1877 Meridian Dev II LLC
since 2018
7 recorded transactions
Zoning & alternative use
CN(D) · Durham, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The CN District is established to provide for modest-scale commercial centers (as defined in Article 6) in close proximity to residential areas that offer limited commercial uses to satisfy the needs of the surrounding neighborhood. Compatibility is facilitated through design standards and buffering that provide for walkable, pedestrian-orienteddevelopmentth…
Zone name
Commercial Neighborhood
General category
COMMERCIAL
Zone area
169.86 ac
Source
Realmo
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 2023Property tax & assessments
Tax year 2023
Tax billed
$2,725
Tax year 2023
Assessed value
$195,338
Assessed 2024
Previous assessed
$195,338
+0.0% YoY
Effective rate
1.40%
On assessed value
Assessed land
$184,699
Assessed improvement
$10,639
Land market value
$184,699
Improvement market value
$10,639
Total market value
$195,338
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
Parking lots & garages
Use group
PARKING LOT
Status
Off-Market
Heating
NONE
Lot
2.08 ac (90,605 SF)
Zoning code
CN(D)
APN
199551
UPID
US53-2417681
Jurisdiction
DURHAM
Zoning & alternative use
CN(D) · Durham, NCZoning CN(D) · permitted uses
CN(D) · Durham, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The CN District is established to provide for modest-scale commercial centers (as defined in Article 6) in close proximity to residential areas that offer limited commercial uses to satisfy the needs of the surrounding neighborhood. Compatibility is facilitated through design standards and buffering that provide for walkable, pedestrian-orienteddevelopmentthat complements nearby residential neighborhoods. The district is not intended for use by major or large-scale commercial sales, service or automotive-oriented activities. The CN District is only appropriate in locations that have direct access to residential neighborhoods.
Zone name
Commercial Neighborhood
General category
COMMERCIAL
Zone area
169.86 ac
Source
Realmo
Building & site characteristics
From public records
Heating
NONE
Lot
2.08 ac
Current owner
From public records · entity-resolved
Bri 1877 Meridian Dev II LLC
Entity
Free & Clear · 8 yrs held
Mailing address
100 N FERDERAL HWY STE STE STE, HALLANDALE BEACH, FL 33009
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 14, 2020
—
Meridian Hospitality Hldgs LLC
—
Deed
related
$3,900,000 · Valley Nat'l Bk
Mar 20, 2018
$1,000
Bri 1877 Meridian Dev II LLC
Ivc Meridian Capital LLC
Grant Deed
—
Aug 8, 2014
$52,500,000
Ivc Meridian Ll F LLC
Arep Meridian I LLC
Trustees Deed
$20,126,000 · Barclays Bk/plc
Oct 1, 2013
—
Arep Meridian II LLC
Arep Meridian I LLC
Quit Claim Deed
related
—
Jul 6, 2011
$156,000
Arep Meridian I LLC
Acp Meridian Tract 18 LLC
Grant Deed
—
Aug 2, 2007
$174,000
Acp Meridian Tract 18 LLC
Prince Properties INC
Grant Deed
—
—
—
Meridian Hospitality Hldgs LLC
—
Loan Modification
related
$3,900,000 · Valley Nat'l Bk
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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