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Property profile & analytics
FOR LEASE
Industrial properties
933 Ellis Rd Durham, NC 27703
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-1183519
For Lease
1 / 6
Contact for pricing
933 Ellis Rd, Durham, NC 27703
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Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1940
Total area
271,607 SF
Lot
19.36 ac (843,322 SF)
Zoning code
IL
APN
156798
UPID
US53-1183519
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
$53.20M
CAP Approach
CAP
$55.22M
Comparable Approach
Comparable
$63.67M
Blend (final)
Blend
$53.20M
Owner & transaction history
Egp Ellis Road 1031 LLC · 2 yrs held
Egp Ellis Road 1031 LLC
since 2024
Last sale
$53.2M
4 recorded transactions
Zoning & alternative use
IL · Durham, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$79.2M
+67.7%
Apartment house (5+ units)
$72.4M
+53.4%
Retail stores
$66.8M
+41.3%
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
$53,200,000
ML approach
$53,200,000
CAP Approach
CAP Return
Estimation
6%
$59,820,000
6.5%
$55,215,000
7%
$51,275,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$47,225,000
Current use
AUTO REPAIR, GARAGE
$79,210,000
Change: +68% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$72,445,000
Change: +53% · Conversion: Difficult
RETAIL STORES
$66,755,000
Change: +41% · Conversion: Moderate
COMMERCIAL (GENERAL)
$66,015,000
Change: +40% · Conversion: Difficult
OFFICE BUILDING
$62,040,000
Change: +31% · Conversion: Difficult
WAREHOUSE, STORAGE
$40,520,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$53.20M
Range $47.88M – $58.52M · ±10% · vs last sale $53.20M (May 6 2024)
Last sale anchor
$53.20M
May 6 2024
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
$196 / 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
$444,775
Tax year 2024
Assessed value
$31,885,777
Assessed 2024
Previous assessed
$31,885,777
+0.0% YoY
Effective rate
1.39%
On assessed value
Assessed land
$1,137,501
Assessed improvement
$30,748,276
Land market value
$1,137,501
Improvement market value
$30,748,276
Total market value
$31,885,777
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
For Lease
Year built
1940
Heating
FLOOR/WALL FURNACE
Cooling
YES
Stories
1
Rooms
4
Bathrooms
1
Total area
271,607 SF
Lot
19.36 ac (843,322 SF)
Zoning code
IL
APN
156798
UPID
US53-1183519
Jurisdiction
DURHAM
Zoning & alternative use
IL · Durham, NC
Zoning IL · permitted uses
IL · 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
INDUSTRIAL (GENERAL) Current
Est. value
$47.2M
AUTO REPAIR, GARAGE
Est. value
$79.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$72.4M
RETAIL STORES
Est. value
$66.8M
COMMERCIAL (GENERAL)
Est. value
$66.0M
OFFICE BUILDING
Est. value
$62.0M
WAREHOUSE, STORAGE
Est. value
$40.5M
INDUSTRIAL (GENERAL) Current
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
COMMERCIAL (GENERAL)
OFFICE BUILDING
WAREHOUSE, STORAGE
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
1940
Heating
FLOOR/WALL FURNACE
Cooling
Yes
Stories
1
Rooms
4
Bathrooms
1
Lot
19.36 ac
Current owner
From public records · entity-resolved
Egp Ellis Road 1031 LLC
Entity
Free & Clear · 2 yrs held
Mailing address
3495 PIEDMONT RD NE BLDG #11, ATLANTA, GA 30305-1717
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 6, 2024
$53,200,000
Egp Ellis Road 1031 LLC
Sif II Tca Ellis Road Dev Ven LLC
Special Warranty Deed
—
Mar 5, 2021
—
Sif II Tca Ellis Road Dev Ven LLC
Bridgett Higgins Ray
Deed
—
Mar 5, 2021
$1,050,000
Sif II Tca Ellis Road Dev Ven LLC
Bridgett Higgins Ray
Special Warranty Deed
—
Jul 8, 2009
—
Louise Noel
Harris,shannon Barbee
Grant Deed
related
—
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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