New search
Property profile & analytics
OFF-MARKET
Estimated value
$32,205,000
Warehouses
5 National Dr, Durham, NC 27703-9950
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-1060285
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2020
Total area
239,351 SF
Lot
19.14 ac (833,738 SF)
Zoning code
IL
APN
157341
UPID
US53-1060285
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
$26.20M
Comparable Approach
Comparable
$29.84M
Blend (final)
Blend
$32.21M
Owner & transaction history
Lipt 5 National Way LP · 4 yrs held
Lipt 5 National Way LP
since 2021
Last sale
$34.1M
5 recorded transactions
Zoning & alternative use
IL · Durham, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$41.6M
+16.6%
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
$36,695,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$28,380,000
6.5%
$26,200,000
7%
$24,325,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$35,705,000
Current use
INDUSTRIAL (GENERAL)
$41,620,000
Change: +17% · Conversion: Easy
Blend value · Realmo final
$32.21M
Range $28.98M – $35.43M · ±10% · vs last sale $34.14M (Sep 30 2021)
Last sale anchor
$34.14M
Sep 30 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
$135 / 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
$423,737
Tax year 2024
Assessed value
$30,377,575
Assessed 2024
Previous assessed
$30,377,575
+0.0% YoY
Effective rate
1.39%
On assessed value
Assessed land
$1,544,640
Assessed improvement
$28,832,935
Land market value
$1,544,640
Improvement market value
$28,832,935
Total market value
$30,377,575
Applied tax rate
55.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2020
Heating
NONE
Total area
239,351 SF
Lot
19.14 ac (833,738 SF)
Zoning code
IL
APN
157341
UPID
US53-1060285
Jurisdiction
DURHAM
Zoning & alternative use
IL · Durham, NC
Zoning IL · permitted uses
IL · 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
WAREHOUSE, STORAGE Current
Est. value
$35.7M
INDUSTRIAL (GENERAL)
Est. value
$41.6M
WAREHOUSE, STORAGE Current
INDUSTRIAL (GENERAL)
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
2020
Heating
NONE
Lot
19.14 ac
Current owner
From public records · entity-resolved
Lipt 5 National Way LP
Entity
Free & Clear · 4 yrs held
Mailing address
333 W WACKER DR STE #2300, CHICAGO, IL 60606-1266
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 30, 2021
$34,140,000
Lipt 5 National Way LP
Patriot Park Partners II LLC
Special Warranty Deed
—
Oct 11, 2019
$5,000,000
Patriot Park Partners II LLC
Scp Patriot II LLC
Special Warranty Deed
related
$20,661,000 · First Tennessee Bank NA
Feb 22, 2017
—
Strategic Cap Ptrs LLC
—
Deed
related
—
Aug 4, 2016
—
Strategic Cap Ptrs LLC
International Busn Machines Co
Quit Claim Deed
related
—
—
—
Strategic Cap Ptrs LLC
—
Loan Modification
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 5 National Dr?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
