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Property profile & analytics
OFF-MARKET
Estimated value
$3,035,000
Office buildings
5501 Fortunes Rdg Dr Durham, NC 27713-6102
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-2229079
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1986
Total area
20,190 SF
Lot
1.99 ac (86,684 SF)
Zoning code
OI
APN
148188
UPID
US53-2229079
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
-
Animo Sano Psychiatry- Fortunes Ridge Dr, Durham Physician
-
Center for Functional & Aesthetic Facial Surgery Dental Office
-
Dr. Aurelie Welterlin Physician Medical Clinic
-
Jelic Center Dental Office
-
The Children's Cochlear Implant Center at UNC Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.22M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.11M
Blend (final)
Blend
$3.04M
Owner & transaction history
5501 Fortunes Ridge Holdings LLC · 4 yrs held
5501 Fortunes Ridge Holdings LLC
since 2021
Last sale
$2.9M
1 recorded transaction
Zoning & alternative use
OI · Durham, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$3,115,000
ML approach
$3,220,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$4,960,000
Change: -13% · Conversion: Moderate
COMMERCIAL (GENERAL)
$4,895,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$3.04M
Range $2.73M – $3.34M · ±10% · vs last sale $2.90M (Aug 10 2021)
Last sale anchor
$2.90M
Aug 10 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
$150 / 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
$30,144
Tax year 2024
Assessed value
$2,160,995
Assessed 2024
Previous assessed
$2,160,995
+0.0% YoY
Effective rate
1.39%
On assessed value
Assessed land
$672,075
Assessed improvement
$1,488,920
Land market value
$672,075
Improvement market value
$1,488,920
Total market value
$2,160,995
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
1986
Heating
YES
Cooling
YES
Stories
1
Total area
20,190 SF
Lot
1.99 ac (86,684 SF)
Zoning code
OI
APN
148188
UPID
US53-2229079
Jurisdiction
DURHAM
Zoning & alternative use
OI · Durham, NC
Zoning OI · permitted uses
OI · 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
RETAIL STORES
Est. value
$5.0M
COMMERCIAL (GENERAL)
Est. value
$4.9M
RETAIL STORES
COMMERCIAL (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
1986
Heating
YES
Cooling
Yes
Stories
1
Lot
1.99 ac
Current owner
From public records · entity-resolved
5501 Fortunes Ridge Holdings LLC
Entity
Mailing address
1205 DORLEATH CT, RALEIGH, NC 27614-8036
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 10, 2021
$2,900,000
5501 Fortunes Ridge Holdings LLC
Fortunes Ridge Associates LLC
Special Warranty Deed
$200,000 · J Russell Parker
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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