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    5600 Miami Blvd Morrisville, NC 27560-8389
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    Property profile & analytics

    5600 Miami Blvd Morrisville, NC 27560-8389

    View on Map
    • Retail space
    • 19,987 SF
    • 1.83 lot acres
    For Lease
    $1,265,000
    View Listing →
    RTP Corner Parcel For Lease For Lease
    $1,265,000

    RTP Corner Parcel For Lease

    1.85-acre corner parcel in the heart of RTP available for lease.

    5600 South Miami Boulevard, Morrisville, NC 27560
    View Listing
    Property ID
    US53-1467188
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail space

    Property Details for 5600 Miami Blvd

    Year built
    2008
    Lot size
    1.83 lot acres
    Property size
    19,987 SF
    Zone code
    CN
    Property type
    Retail space
    APN
    157954
    APU
    157954

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,211,000
      Market price range: $1.21M - $4.75M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Morrisville
    County
    Durham
    State
    North Carolina
    Longitude
    -78.8516
    Latitude
    35.8764
    CBSA code
    20500
    CBSA name
    DURHAM-CHAPEL HILL, NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $30,846
    $885,625
    $1,325,711
    $2,211,336
    -
    $885,625
    $1,325,711
    $2,211,336

    Comparable in this City

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      8,991 SF

      5180 Paramount Pkwy

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      5180 Paramount Pkwy, Morrisville, NC 27560-5445
      View Details
    • Value Estimation
      $1,530,000
      16,415 SF

      1901 Cary Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 16,415 SF
      1901 Cary Pkwy, Morrisville, NC 27560-7331
      View Details
    • Value Estimation
      $1,150,000
      1,250 SF

      10208 Chapel Hl Rd

      STORE, RETAIL OUTLET • 1,250 SF
      10208 Chapel Hl Rd, Morrisville, NC 27560-8704
      View Details
    • Value Estimation
      $1,840,000
      13,385 SF

      3603 Davis Dr

      RETAIL STORES (PERSONAL SERVICES) • 13,385 SF
      3603 Davis Dr, Morrisville, NC 27560-6008
      View Details
    • Value Estimation
      $770,000
      10,354 SF

      1005 Lowr Shiloh Way

      RETAIL STORES (PERSONAL SERVICES) • 10,354 SF
      1005 Lowr Shiloh Way, Morrisville, NC 27560-5493
      View Details
    • Value Estimation by Request
      6,334 SF

      200 Franklin Upchurch Sr St

      RETAIL STORES (PERSONAL SERVICES) • 6,334 SF
      200 Franklin Upchurch Sr St, Morrisville, NC 27560-4610
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,093 SF

      High-Visibility Site in RTP

      0.692-acre site ideal for office, retail, or investment.
      4511 Hopson Rd, Morrisville, NC 27560
      View Details
    • $887,000
      1.00 Acre

      Commercial Property in Morrisville, NC

      Strategic investment opportunity in Morrisville's industrial and business corridor.
      718 Airport Blvd, Morrisville, NC 27560
      View Details
    • Contact for pricing
      1,867 SF

      Hopson Road Commercial Land Opportunity

      Approximately 0.692-acre site in the heart of RTP.
      4503 Hopson Rd, Morrisville, NC 27560
      View Details
    • Contact for pricing
      33,000 SF

      Retail and Office Development Land

      Two parcels totaling ±4.585 acres with approved site plan.
      5802 S Miami Blvd, Durham, NC 27560
      View Details
    • Contact for pricing

      Retail and Office Development Site

      Approved site for 33,000 SF retail and office development.
      5802 S Miami Blvd, Durham, NC 27560
      View Details
    • Contact for pricing

      Entitlement-Ready Land in Morrisville, NC

      Land in high-growth area, approved for licensed daycare facility.
      611 Church St, Morrisville, NC 27560
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      12,090 SF

      Creative Retail and Office Space

      Creative retail and office spaces designed for innovators.
      508 Airport Blvd, Morrisville, NC 27560
      View Details
    • Contact for pricing

      Modern Office Building in Perimeter Park

      Three-story, 90,000 SF office building with modern amenities.
      4000 Paramount Pkwy, Morrisville, NC 27560
      View Details
    • $20 SF/Yr
      36,000 SF

      Flexible Commercial Space in Morrisville

      Strategically located commercial property with expansion potential in Research Triangle.
      117 International Dr, Morrisville, NC 27560
      View Details
    • Contact for pricing
      51,249 SF

      Retail Space in Morrisville Center

      Retail space available in a Morrisville power center.
      4031 Davis Dr, Morrisville, NC 27560
      View Details
    • $30 SF/Yr
      35,350 SF

      703 Slater Road: Class A Office Space

      Morrisville, NC: Premier Office Building, 35,350 SF
      703 Slater Rd, Morrisville, NC 27560
      View Details

    Property Visit Statistics

    • Visits by month
      5.8k
    • Visitors by month
      5.3k
    • Avg Time on site
      16 min
    View Listing
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    Morrisville, NC 27560-8389
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    5600 Miami Blvd, Morrisville, NC, 27560
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