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Property profile & analytics
OFF-MARKET
Estimated value
$32,885,000
Office buildings
5221 Paramount Pkwy, Morrisville, NC 27560-5422
Entity Owned
5-yr Hold
Free & Clear
Property ID
US53-1286315
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2008
Total area
140,192 SF
Lot
11.01 ac (479,596 SF)
Zoning code
OI
APN
0746.02-87-3729 0283534
UPID
US53-1286315
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
$40.47M
Comparable Approach
Comparable
$39.05M
Blend (final)
Blend
$32.89M
Owner & transaction history
Paramount Office LP · 5 yrs held
Paramount Office LP
since 2020
Last sale
$30.5M
4 recorded transactions
Zoning & alternative use
OI · Morrisville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$48.3M
+61.6%
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 Morrisville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morrisville 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
$39,050,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$43,835,000
6.5%
$40,465,000
7%
$37,575,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$29,880,000
Current use
MEDICAL BUILDING
$48,295,000
Change: +62% · Conversion: Easy
Blend value · Realmo final
$32.89M
Range $29.60M – $36.17M · ±10% · vs last sale $30.51M (Sep 4 2020)
Last sale anchor
$30.51M
Sep 4 2020
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
$235 / 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
Tax billed
$342,601
Tax year 2023
Assessed value
$32,306,655
Assessed 2023
Previous assessed
$32,306,655
+0.0% YoY
Effective rate
1.06%
On assessed value
Assessed land
$3,388,216
Assessed improvement
$28,918,439
Land market value
$3,388,216
Improvement market value
$28,918,439
Total market value
$32,306,655
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
2008
Heating
CENTRAL
Cooling
CENTRAL
Stories
4
Total area
140,192 SF
Lot
11.01 ac (479,596 SF)
Zoning code
OI
APN
0746.02-87-3729 0283534
UPID
US53-1286315
Jurisdiction
WAKE
Zoning & alternative use
OI · Morrisville, NC
Zoning OI · permitted uses
OI · Morrisville, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Morrisville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$29.9M
MEDICAL BUILDING
Est. value
$48.3M
OFFICE BUILDING Current
MEDICAL 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
2008
Heating
CENTRAL
Cooling
Yes
Stories
4
Lot
11.01 ac
Current owner
From public records · entity-resolved
Paramount Office LP
Entity
Free & Clear · 5 yrs held
Mailing address
5 BRYANT PARK FL #28, NEW YORK, NY 10018-8204
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 4, 2020
$51,500,000
Paramount Office LP
Svt 5221 E Paramount Pkwy LP
Grant Deed
—
Mar 13, 2018
—
Svt 5221 East Paramount Pkwy L
—
Grant Deed
related
$667,640,000 · Morgan Stanley Bk
Apr 14, 2015
$30,509,500
Svt 5221 East Paramount Pkwy L
Duke Realty LP
Grant Deed
—
Dec 30, 2005
$134,500
Duke Realti LP
Duke Construction Ltd
Warranty 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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