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    710-714 Cronely Aly Wilmington, NC 28401

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    Sponsored
    For Sale
    $895,000

    MULTI_FAMILY - Wilmington, NC

    Property size:
    1,680 SF
    Lot size:
    0.12 Acres
    Days on Market:
    22
    Last Refresh:
    Mar 24 at 8:06 pm

    Property Features for 710-714 Cronely Aly

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Security features
    Security Lighting
    Zoning
    R-3 and R-3
    Rooms
    Bathroom 1, Bathroom 4, Bathroom 2, Bedroom 1, Bedroom 4, Bedroom 3, Bathroom 3, Bedroom 2
    Bedrooms
    4
    Bathrooms
    4
    APN
    R05409-010-034-000
    Parking features
    Covered, Carport
    Interior features
    Ceiling Fan(s), Furnished, Walk-in Shower
    Exterior features
    Balcony, Cluster Mailboxes
    Appliances
    Electric Oven, Washer, Refrigerator, Dryer
    Size
    1,680 SF
    Lot size
    0.12 Acres

    Utilities

    Utilities
    Water Available
    Heating system
    Electric (Heating)
    Cooling system
    Wall/Window Unit(s), Window Unit(s)

    Building Details

    Year built
    1969
    Floors in Building
    1
    Number of units
    4
    Flooring type
    Lvt/lvp
    Building materials
    Fiber Cement
    Roof type
    Metal

    We can help!

    Listing Contact
    Celeste Salzberg
    Celeste Salzberg

    Coastal Knot Realty Group & Business Brokerage

    Listing agent Celeste Salzberg License #197830

    Listing date Mar 2, 2026

    MLS# 100490306 Listing URL

    Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Wilmington Quadplex in Castle Street

    This well-maintained quadplex is located in the vibrant Castle Street District, known for its pub crawls and block parties. The property offers an eagle's eye view of the surrounding area and is situated two to four blocks from restaurants, unique shops, a wine shop, a coffee house, and a yoga studio. Each of the one-bedroom units is fully furnished and includes covered parking, a private storage area, and covered front porches, making them suitable for short-term rentals. A shared laundry room is available between each pair of units. Outdoor amenities include a picnic and grill area, and a large storage space suitable for kayaks, ideal for a beach getaway. The lot size is 0.12 acres. The property is zoned R-3 and R-3. The property size is 1680 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Map

    City
    Wilmington
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.939212
    Latitude
    34.227946

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    FAQs

    What type of property is this?
    Quadplex - Furnished quadplex in vibrant Castle Street District, Wilmington.
    Where is this quadplex located?
    The property is located at 710-714 Cronely Aly Wilmington, NC.
    What is the asking price?
    The asking price for this property is $895,000.
    What are key features of this property?
    This property features: - Fully furnished one-bedroom units ideal for short-term rentals.; - Located in the vibrant Castle Street District, close to restaurants, shops, and entertainment.; - Each unit includes covered parking and a private storage area.
    (910) 434-6967
    Request Owner's contact information
    710-714 Cronely Aly Wilmington, NC 28401
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    Wilmington, NC 28401
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    710-714 Cronely Aly Wilmington, NC 28401
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    We can help!
    Listing Contact
    Celeste Salzberg
    Celeste Salzberg
    Real Estate License ID: 197830
    Learn More
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