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Property profile & analytics
OFF-MARKET
Estimated value
$15,040,000
Office buildings
909 Aviation Pkwy, Morrisville, NC 27560-8487
Entity Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-1649946
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1997
Total area
62,348 SF
Lot
5.77 ac (251,341 SF)
Zoning code
IM
APN
0755.02-59-1143 0219726
UPID
US53-1649946
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
$12.06M
CAP Approach
CAP
$18.00M
Comparable Approach
Comparable
$9.81M
Blend (final)
Blend
$15.04M
Owner & transaction history
Sbp Office Owner LP · 5 yrs held
Sbp Office Owner LP
since 2020
Last sale
$15.4M
6 recorded transactions
Zoning & alternative use
IM · Morrisville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$21.5M
+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
$19,660,000
ML approach
$12,055,000
CAP Approach
CAP Return
Estimation
6%
$19,495,000
6.5%
$17,995,000
7%
$16,710,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$13,290,000
Current use
MEDICAL BUILDING
$21,480,000
Change: +62% · Conversion: Easy
Blend value · Realmo final
$15.04M
Range $13.54M – $16.54M · ±10% · vs last sale $15.36M (Nov 25 2020)
Last sale anchor
$15.36M
Nov 25 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
$241 / 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
$77,531
Tax year 2023
Assessed value
$7,094,660
Assessed 2023
Previous assessed
$7,094,660
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$1,176,276
Assessed improvement
$5,918,384
Land market value
$1,176,276
Improvement market value
$5,918,384
Total market value
$7,094,660
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
1997
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
62,348 SF
Lot
5.77 ac (251,341 SF)
Zoning code
IM
APN
0755.02-59-1143 0219726
UPID
US53-1649946
Jurisdiction
WAKE
Zoning & alternative use
IM · Morrisville, NC
Zoning IM · permitted uses
IM · 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
$13.3M
MEDICAL BUILDING
Est. value
$21.5M
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
1997
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
5.77 ac
Current owner
From public records · entity-resolved
Sbp Office Owner LP
Entity
Free & Clear · 5 yrs held
Mailing address
1255 23RD ST NW, WASHINGTON, DC 20037-1125
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
Mar 11, 2026
—
Sbp Office Owner LP
—
Deed
related
$228,515,000 · Areeif Lender Ms LLC
Dec 9, 2020
—
Sbp Office Owner LP
—
Deed Of Trust
related
$229,515 · Areeif Lender LLC
Nov 25, 2020
$208,600,000
Sbp Office Owner LP
Southport Business Park LP
Grant Deed
—
Mar 1, 2017
—
Lennar Carolinas LLC
Town Of Cary
Quit Claim Deed
related
—
—
—
Southport Business Park LP
—
Deed Of Trust
related
$28,000,000 · Lincoln Life & Annuity Co/new
—
—
Southport Business Park
—
Deed Of Trust
related
$4,150,000 · Lincoln National Life Ins
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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