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Property profile & analytics
OFF-MARKET
Estimated value
$24,265,000
Office buildings
940 Main Campus Dr Raleigh, NC 27606-5211
Entity Owned
18-yr Hold
Free & Clear
Property ID
US53-1603610
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1998
Construction
BRICK
Total area
110,000 SF
Lot
0.01 ac (436 SF)
Zoning code
OX-5
APN
0793.11-56-4332 0209882
UPID
US53-1603610
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
-
VHB General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$25.01M
Comparable Approach
Comparable
$28.53M
Blend (final)
Blend
$24.27M
Owner & transaction history
Venture Center LLC · 18 yrs held
Venture Center LLC
since 2007
3 recorded transactions
Zoning & alternative use
OX-5 · Raleigh, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The OX-5 is intended to provide for a variety of office and employment uses whileallowing for housing and limited retail and service related options
Zone name
Office Mixed Use
General category
MIXED_USE
Zone area
421.12 ac
Source
Realmo
Top alternative use upside
Commercial (general)
$35.7M
+66.3%
Medical building
$34.7M
+61.7%
Auto repair, garage
$32.4M
+51.1%
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 Raleigh submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Raleigh 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%
$27,090,000
6.5%
$25,005,000
7%
$23,220,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$21,460,000
Current use
COMMERCIAL (GENERAL)
$35,675,000
Change: +66% · Conversion: Easy
MEDICAL BUILDING
$34,690,000
Change: +62% · Conversion: Easy
AUTO REPAIR, GARAGE
$32,435,000
Change: +51% · Conversion: Difficult
Blend value · Realmo final
$24.27M
Range $21.84M – $26.69M · ±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
$221 / 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
$1,224,719
Tax year 2023
Assessed value
$112,359,551
Assessed 2023
Previous assessed
$112,359,551
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed improvement
$112,359,551
Improvement market value
$112,359,551
Total market value
$112,359,551
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 (MULTI-STORY)
Status
Off-Market
Year built
1998
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
5
Total area
110,000 SF
Lot
0.01 ac (436 SF)
Zoning code
OX-5
APN
0793.11-56-4332 0209882
UPID
US53-1603610
Jurisdiction
WAKE
Zoning & alternative use
OX-5 · Raleigh, NCZoning OX-5 · permitted uses
OX-5 · Raleigh, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The OX-5 is intended to provide for a variety of office and employment uses whileallowing for housing and limited retail and service related options
Zone name
Office Mixed Use
General category
MIXED_USE
Zone area
421.12 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$21.5M
COMMERCIAL (GENERAL)
Est. value
$35.7M
MEDICAL BUILDING
Est. value
$34.7M
AUTO REPAIR, GARAGE
Est. value
$32.4M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
1998
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
5
Lot
0.01 ac
Current owner
From public records · entity-resolved
Venture Center LLC
Entity
Free & Clear · 18 yrs held
Mailing address
311 S WACKER DR #4400, CHICAGO, IL 60606-6627
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 27, 2007
—
Venture Center LLC
Owner,record
Grant Deed
related
—
Aug 13, 2002
—
Nc Venture LLC
Nc Venture LLC
Quit Claim Deed
related
—
—
—
Venture Center LLC
—
Deed Of Trust
related
$62,000,000 · Jp Morgan Chase Bk
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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