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Property profile & analytics
OFF-MARKET
Estimated value
$12,850,000
Super regional malls
609 Broad St Durham, NC 27705-4832
Entity Owned
6-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-0067275
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1996
Total area
42,575 SF
Lot
2.58 ac (112,385 SF)
Zoning code
CD-S1
APN
101881
UPID
US53-0067275
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
-
Le Nail Spa Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.86M
CAP Approach
CAP
$9.65M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$12.85M
Owner & transaction history
Rrpv Bull City Durham LP · 6 yrs held
Rrpv Bull City Durham LP
since 2020
Last sale
$13.0M
6 recorded transactions
Zoning & alternative use
CD-S1 · Durham, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$10.1M
+1,360.6%
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
$17,760,000
ML approach
$10,855,000
CAP Approach
CAP Return
Estimation
6%
$10,450,000
6.5%
$9,645,000
7%
$8,955,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$10,130,000
Change: +1,361% · Conversion: Moderate
Blend value · Realmo final
$12.85M
Range $11.57M – $14.14M · ±10% · vs last sale $13.00M (Jun 18 2020)
Last sale anchor
$13.00M
Jun 18 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
$302 / 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
$114,466
Tax year 2024
Assessed value
$8,206,056
Assessed 2024
Previous assessed
$8,206,056
+0.0% YoY
Effective rate
1.39%
On assessed value
Assessed land
$1,677,661
Assessed improvement
$6,528,395
Land market value
$1,677,661
Improvement market value
$6,528,395
Total market value
$8,206,056
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
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
Off-Market
Year built
1996
Heating
PACKAGE
Cooling
YES
Stories
1
Total area
42,575 SF
Lot
2.58 ac (112,385 SF)
Zoning code
CD-S1
APN
101881
UPID
US53-0067275
Jurisdiction
DURHAM
Zoning & alternative use
CD-S1 · Durham, NC
Zoning CD-S1 · permitted uses
CD-S1 · 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
OFFICE BUILDING
Est. value
$10.1M
OFFICE 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
1996
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
2.58 ac
Current owner
From public records · entity-resolved
Rrpv Bull City Durham LP
Entity
Free & Clear · 6 yrs held
Mailing address
4801 PGA BLVD, PALM BEACH GARDENS, FL 33418-3941
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 18, 2020
$13,000,000
Rrpv Bull City Durham LP
Wri Sthrn Indl Pool LLC
Grant Deed
—
Jun 18, 2020
—
Rrpv Bull City Durham LP
Wri Sthrn Indl Pool LLC
Quit Claim Deed
related
—
May 8, 2012
—
Wri Southern Indl Pool LLC
Wri Strom LP
Quit Claim Deed
$57,500,000 · John Hancock Life Insurance Co
Dec 15, 2011
—
Wri Strom LP
Westfield Co
Grant Deed
—
Sep 13, 2011
—
Wri Strom LP
Westfield Co
Grant Deed
—
Jun 16, 2005
$7,600,000
Wri Strom
Bull City Realty LLC
Grant Deed
—
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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