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Property profile & analytics
OFF-MARKET
Estimated value
$515,000
Office Spaces
1001 Military Cutoff Rd J Wilmington, NC 28405-4376
Entity Owned
14-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-1381064
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
2006
Total area
2,199 SF
Zoning code
O&I,OFFICE & INSTITUTION
APN
R05100-003-067-005
UPID
US53-1381064
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
-
Vanessa Holt Realty at Keller Williams Innovate Real Estate Agency
-
Bankers Life Insurance Agency
-
Samuel Tucker, Bankers Life Agent Insurance Agency
-
PharPoint Research Inc Research Institute
-
Select Bank & Trust Bank Loan Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$330k
CAP Approach
CAP
$460k
Comparable Approach
Comparable
$527k
Blend (final)
Blend
$515k
Owner & transaction history
Palm Park Holdings LLC · 14 yrs held
Palm Park Holdings LLC
since 2011
4 recorded transactions
Zoning & alternative use
O&I,OFFICE & INSTITUTION · Wilmington, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$665,000
+22.5%
Auto repair, garage
$630,000
+15.3%
Retail stores
$600,000
+10.2%
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 Wilmington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wilmington 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
$330,000
CAP Approach
CAP Return
Estimation
6%
$495,000
6.5%
$460,000
7%
$425,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$545,000
Current use
MEDICAL BUILDING
$665,000
Change: +22% · Conversion: Easy
AUTO REPAIR, GARAGE
$630,000
Change: +15% · Conversion: Difficult
RETAIL STORES
$600,000
Change: +10% · Conversion: Moderate
WAREHOUSE, STORAGE
$540,000
Change: 0% · Conversion: Difficult
COMMERCIAL (GENERAL)
$510,000
Change: -6% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$485,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$515k
Range $464k – $567k · ±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
$234 / 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
$3,219
Tax year 2023
Assessed value
$381,000
Assessed 2023
Previous assessed
$381,000
+0.0% YoY
Effective rate
0.84%
On assessed value
Assessed improvement
$381,000
Improvement market value
$381,000
Total market value
$381,000
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 Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
2006
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
2,199 SF
Zoning code
O&I,OFFICE & INSTITUTION
APN
R05100-003-067-005
UPID
US53-1381064
Jurisdiction
NEW HANOVER
Zoning & alternative use
O&I,OFFICE & INSTITUTION · Wilmington, NC
Zoning O&I,OFFICE & INSTITUTION · permitted uses
O&I,OFFICE & INSTITUTION · Wilmington, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Wilmington. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$545,000
MEDICAL BUILDING
Est. value
$665,000
AUTO REPAIR, GARAGE
Est. value
$630,000
RETAIL STORES
Est. value
$600,000
WAREHOUSE, STORAGE
Est. value
$540,000
COMMERCIAL (GENERAL)
Est. value
$510,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$485,000
OFFICE BUILDING Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
WAREHOUSE, STORAGE
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
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
2006
Heating
FORCED AIR
Cooling
Yes
Stories
1
Current owner
From public records · entity-resolved
Palm Park Holdings LLC
Entity
Free & Clear · 14 yrs held
Mailing address
628 GRN VLY RD STE #203, GREENSBORO, NC 27408-7789
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2011
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
Apr 11, 2017
—
Palm Park Holdings LLC
—
Grant Deed
related
$1,400,000 · Paragon Com'l Bk
Oct 19, 2011
$5,700,000
Palm Park Holdings LLC
Fnb Properties II LLC
Trustees Deed
related
—
Jun 11, 2009
—
Fnb Properties II LLC
—
Deed Of Trust
related
$1,000,000 · Wachovia Bank NA
Mar 30, 2007
—
Fnb Properties II LLC
Fnb Properties LLC
Quit Claim 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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