Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$3,200,000
Office buildings
921 Morreene Rd Durham, NC 27705-4478
Entity Owned
1-yr Hold
Free & Clear
Property ID
US53-1279808
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1994
Total area
11,853 SF
Lot
1.12 ac (48,787 SF)
Zoning code
OI
APN
125296
UPID
US53-1279808
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
-
Cornerstone Realty Team at Berkshire Hathaway YSU Real Estate Agency
-
NC Fragile X Foundation Association / Organization
-
Amy J McKee, Real Estate Broker - Berkshire Hathaway HomeServices YSU Real Estate Agency
-
Audrey Morris Berkshire Hathaway HomeServices Real Estate Agency
-
Miranda Sterrett, Realtor - Berkshire Hathaway Home Services Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.01M
Comparable Approach
Comparable
$2.93M
Blend (final)
Blend
$3.20M
Owner & transaction history
Preferred Carolinas Realty INC · 1 yrs held
Preferred Carolinas Realty INC
since 2024
5 recorded transactions
Zoning & alternative use
OI · Durham, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$5.1M
+123.8%
Auto repair, garage
$3.5M
+53.0%
Retail stores
$2.9M
+28.9%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,255,000
6.5%
$3,005,000
7%
$2,790,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,260,000
Current use
RESTAURANT
$5,060,000
Change: +124% · Conversion: Moderate
AUTO REPAIR, GARAGE
$3,455,000
Change: +53% · Conversion: Difficult
RETAIL STORES
$2,915,000
Change: +29% · Conversion: Moderate
COMMERCIAL (GENERAL)
$2,855,000
Change: +26% · Conversion: Easy
INDUSTRIAL (GENERAL)
$2,060,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$3.20M
Range $2.88M – $3.52M · ±10%
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
$270 / 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
$21,004
Tax year 2024
Assessed value
$1,505,782
Assessed 2024
Previous assessed
$1,505,782
+0.0% YoY
Effective rate
1.39%
On assessed value
Assessed land
$540,027
Assessed improvement
$965,755
Land market value
$540,027
Improvement market value
$965,755
Total market value
$1,505,782
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
1994
Heating
YES
Cooling
YES
Stories
2
Total area
11,853 SF
Lot
1.12 ac (48,787 SF)
Zoning code
OI
APN
125296
UPID
US53-1279808
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
OFFICE BUILDING Current
Est. value
$2.3M
RESTAURANT
Est. value
$5.1M
AUTO REPAIR, GARAGE
Est. value
$3.5M
RETAIL STORES
Est. value
$2.9M
COMMERCIAL (GENERAL)
Est. value
$2.9M
INDUSTRIAL (GENERAL)
Est. value
$2.1M
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
COMMERCIAL (GENERAL)
INDUSTRIAL (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
1994
Heating
YES
Cooling
Yes
Stories
2
Lot
1.12 ac
Current owner
From public records · entity-resolved
Preferred Carolinas Realty INC
Entity
Free & Clear · 1 yrs held
Mailing address
110 OAKWOOD DR, WINSTON SALEM, NC 27103-1957
Ownership since
2024
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
Aug 8, 2025
—
Alventure Capital INC
—
Deed
related
$765,000 · Southern First Bank NA
Aug 20, 2024
—
Preferred Carolinas Realty INC
Alventure Capital INC
Assignment Of Lease (leasehold Sale)
—
May 31, 2017
—
Alventure Capital INC
—
Deed
related
$995,000 · Capital Bank
Apr 30, 2014
$1,210,000
Alventure Capital INC
Office Park Of Morreene Road Ll
Warranty Deed
$1,028,500 · Branch Bk&tr
Apr 9, 2014
—
Allison Destefano
Office Park Of Morreene Road 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 921 Morreene Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
