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Property profile & analytics
OFF-MARKET
Office buildings
508 Simmons St Durham, NC 27701-4334
Entity Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-0151330
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1958
Total area
3,522 SF
Lot
0.34 ac (14,810 SF)
Zoning code
RU-5
APN
118173
UPID
US53-0151330
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
-
Service Plus Realty Real Estate Agency
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
Greene Solutions LLC · 5 yrs held
Greene Solutions LLC
since 2020
Last sale
$285,000
7 recorded transactions
Zoning & alternative use
RU-5 · Durham, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The RU Districts are established to provide for orderly urban residentialdevelopmentand redevelopment. A limited number of nonresidential uses are allowed, subject to the restrictions necessary to preserve the character of the urban neighborhood. Such uses should have convenient access to arterial streets and nearby civic, commercial or employment uses.
Zone name
Residential Urban 5
General category
CIVIC_INSTITUTIONAL
Zone area
4,636.82 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 2024Property tax & assessments
Tax year 2024
Tax billed
$4,404
Tax year 2024
Assessed value
$315,723
Assessed 2024
Previous assessed
$315,723
+0.0% YoY
Effective rate
1.39%
On assessed value
Assessed land
$83,907
Assessed improvement
$231,816
Land market value
$83,907
Improvement market value
$231,816
Total market value
$315,723
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1958
Heating
YES
Cooling
YES
Stories
1
Total area
3,522 SF
Lot
0.34 ac (14,810 SF)
Zoning code
RU-5
APN
118173
UPID
US53-0151330
Jurisdiction
DURHAM
Zoning & alternative use
RU-5 · Durham, NCZoning RU-5 · permitted uses
RU-5 · Durham, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The RU Districts are established to provide for orderly urban residentialdevelopmentand redevelopment. A limited number of nonresidential uses are allowed, subject to the restrictions necessary to preserve the character of the urban neighborhood. Such uses should have convenient access to arterial streets and nearby civic, commercial or employment uses.
Zone name
Residential Urban 5
General category
CIVIC_INSTITUTIONAL
Zone area
4,636.82 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1958
Heating
YES
Cooling
Yes
Stories
1
Lot
0.34 ac
Current owner
From public records · entity-resolved
Greene Solutions LLC
Entity
Mailing address
1215 ANTLER PT DR, DURHAM, NC 27713-5820
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
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 30, 2025
—
Greene Solutions LLC
—
Deed
related
$570,577 · Mechanics & Farmers Bank
Dec 2, 2020
$285,000
Greene Solutions LLC
Dukes Properties & Construction LLC
Warranty Deed
$268,000 · Mechanics & Farmers Bank
Nov 25, 2020
$215,000
Dukes Prop & Const LLC
Creech Properties I LLC
Warranty Deed
—
Dec 5, 2019
—
Creech Properties I LLC
Michael A Creech
Quit Claim Deed
related
—
Jul 18, 2014
$140,000
Michael A Creech
Vanegas Fernandez Florentin
Warranty Deed
$124,950 · First Bank
Apr 26, 2007
$185,000
Florentin Vanegas-fernandez
Dawson,robert E
Grant Deed
—
—
—
Michael A Creech
—
Deed Of Trust
related
$615,000 · Mvb Bk INC
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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