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Property profile & analytics
OFF-MARKET
Garden apartment buildings
720 Nc Hwy 54, Durham, NC 27713
Entity Owned
23-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-2416314
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1986
Total area
1,846 SF
Lot
31.05 ac (1,352,538 SF)
Zoning code
PDR 3.650
APN
143649
UPID
US53-2416314
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
New Park Ridge Assoc LLC · 23 yrs held
New Park Ridge Assoc LLC
since 2003
5 recorded transactions
Zoning & alternative use
PDR 3.650 · 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
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
$376,530
Tax year 2024
Assessed value
$26,993,367
Assessed 2024
Previous assessed
$26,993,367
+0.0% YoY
Effective rate
1.39%
On assessed value
Assessed land
$4,620,000
Assessed improvement
$22,373,367
Land market value
$4,620,000
Improvement market value
$22,373,367
Total market value
$26,993,367
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1986
Heating
YES
Cooling
YES
Stories
2
Total area
1,846 SF
Lot
31.05 ac (1,352,538 SF)
Zoning code
PDR 3.650
APN
143649
UPID
US53-2416314
Jurisdiction
DURHAM
Zoning & alternative use
PDR 3.650 · Durham, NC
Zoning PDR 3.650 · permitted uses
PDR 3.650 · 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.
Building & site characteristics
From public records
Year built
1986
Heating
YES
Cooling
Yes
Stories
2
Lot
31.05 ac
Current owner
From public records · entity-resolved
New Park Ridge Assoc LLC
Entity
Mailing address
2701 E LUZERNE ST, PHILADELPHIA, PA 19137-1411
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2003
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 30, 2020
—
New Park Ridge Associates LLC
—
Deed
related
$26,000,000 · Berkadia Com'l Mtg
Nov 18, 2016
—
New Park Ridge Associates LLC
—
Deed
related
$3,000,000 · Berkadia Commercial Mortgage
May 16, 2003
$13,170,000
New Park Ridge Assoc LLC
Park Ridge Assoc
Grant Deed
related
—
—
—
New Park Ridge Associates LLC
—
Deed Of Trust
related
$16,150,000 · Berkadia Commercial Mortgage
—
—
New Park Ridge Associates LLC
—
Deed Of Trust
related
$26,000,000 · Berkadia Com'l Mtg
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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