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    890 Kerr Ave Wilmington, NC 28403

    • Strip malls
    • 21,504 SF
    • 0.67 lot acres
    For Lease
    View listing
    $18 SF/Yr
    Value Estimation
    $885,000
    Location Intelligence
    Property ID
    US53-0926761
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Etc. Media Group LLC. / Video Production Service
    • Grinders Caffè / Cafe / Bakery
    • Class 101 Wilmington / Educational Consultant / Educational Testing Service
    • Consulting Technologies / Consultant
    • Family Solutions and Wellness Center, PLLC / Counselor / Family Counselor

    Property Details for 890 Kerr Ave

    Year built
    1989
    Construction
    WOOD FRAME
    Lot size
    0.67 lot acres
    Property size
    21,504 SF
    Zone code
    CB,COMMUNITY BUSIN
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    R05515-001-002-000
    APU
    R05515001002000

    Description

    This Wilmington, NC office property, located at 890 S Kerr Ave near Wilshire Blvd in the University submarket, offers multiple executive office suites for lease. The two-story, Class B building, constructed in 1989, totals 24,022 square feet and sits on a 0.67-acre lot. Available space ranges from 976 to 3,965 contiguous square feet, with a total of 4,941 square feet currently vacant. The building is zoned CB-Community Business (APN: R05515-001-001-000) and does not include elevators. This convenient location provides ample parking and is close to UNCW and various amenities. On-site businesses include a cafe, wine shop, bagel shop, learning center, and several restaurants. The available suites are situated on the second floor and are ready for immediate occupancy. Ideal for businesses seeking flexible, well-located office space in a thriving Wilmington neighborhood.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $875,000

    • CAP approach

      CAP return
      Estimation
      6%
      $1,090,000
      6.5%
      $1,255,000
      7%
      $1,115,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $990,000
      Geo Method
      $1,035,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $1,005,000
      Retail
      $1,050,000
      Mixed-Use
      $1,205,000
      Hospitality
      $1,000,000
      Educational
      $995,000
      Residential Income
      $1,180,000
      Energy
      $1,170,000
      Income-Based Land
      $1,120,000
      Food Service
      $1,270,000

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.8869
    Latitude
    34.2207
    CBSA code
    48900
    CBSA name
    WILMINGTON, NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $18,535
    $281,400
    $1,912,100
    $2,193,500
    -
    $281,400
    $1,912,100
    $2,193,500

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      SHOPPING CENTER, STRIP CENTER • 960 SF
      4516 Fountain Dr, Wilmington, NC 28403-2918
      View Details

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    890 Kerr Ave
    Wilmington, NC 28403
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    Realmo Value Estimation

    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.

    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.

    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
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