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2411 Ellis Road( Reserve @ Ellis Crossing Apartments), Durham, NC 2411 Ellis Road, Durham, NC 27703

Office • Sold
Best Use
Residential
  • 285,600 sf
  • 31.19 acres
City
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Durham
County
Photo of Durham
Durham
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Property Details

Listing Details

  • List Price
    $61,250,000
  • Analysis

    Sale Price $61,250,000 ÷ 355,944 SF GBA = $172.08 per SF of GBA
    Sale Price $61,250,000 ÷ 336 Units = $182,291.67 per unit
    Sale Price $61,250,000 ÷ 17 Buildings = $3,602,941.18 per Building
    Reported CAP Rate 6.5%

  • Address
    2411 Ellis Road, Durham, NC 27703
  • City
    Durham
  • County
    Durham
  • Parcel #
    163389
  • Listing Agent(s)
  • Status
    Closed
  • Closed Date
    3/5/2018
  • Data Source
    Pickett Sprouse Commercial Real Estate
  • Listing ID
    73276

Legacy Details

  • Analysis

    Sale Price $61,250,000 ÷ 355,944 SF GBA = $172.08 per SF of GBA
    Sale Price $61,250,000 ÷ 336 Units = $182,291.67 per unit
    Sale Price $61,250,000 ÷ 17 Buildings = $3,602,941.18 per Building
    Reported CAP Rate 6.5%

  • Grantee/Tenant
    DPR Ellis Crossing Property, LLC
  • Grantor/Landlord
    Ellis Road Apartments I, LP
  • # of Multifamily Units
    336
  • Use at Time of Sale
    The Reserve at Ellis Crossing Apartments
  • Utilities
    City

Notes

Model Mix: 17 Buildings 12 units @ 687 sq ft 72 units @ 865 sq ft 90 units @ 937 sq ft 42 units @ 1,178 sq ft 84 units @ 1,238 sq ft 36 units @ 1,420 sq ft

Information deemed reliable but not guaranteed to be accurate. © Pickett Sprouse Commercial Real Estate. All rights reserved.