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Property profile & analytics
OFF-MARKET
Estimated value
$1,050,000
Office buildings
1006 Kerr Ave Wilmington, NC 28403-4313
Entity Owned
Absentee Owner
Property ID
US53-1328549
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2018
Total area
3,356 SF
Lot
0.8 ac (34,848 SF)
Zoning code
CB,COMMUNITY BUSIN
APN
R05519-009-009-000
UPID
US53-1328549
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
-
Coastal Finance Co Loan Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$700k
Comparable Approach
Comparable
$1.09M
Blend (final)
Blend
$1.05M
Owner & transaction history
Gjo Properties LLC
Gjo Properties LLC
since 2026
Last sale
$1.2M
3 recorded transactions
Zoning & alternative use
CB,COMMUNITY BUSIN · Wilmington, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
by Request
CAP Approach
CAP Return
Estimation
6%
$760,000
6.5%
$700,000
7%
$650,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,175,000
Current use
COMMERCIAL (GENERAL)
$1,055,000
Change: -10% · Conversion: Easy
MEDICAL BUILDING
$1,020,000
Change: -13% · Conversion: Easy
AUTO REPAIR, GARAGE
$960,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$1.05M
Range $945k – $1.16M · ±10% · vs last sale $1.24M (Feb 6 2026)
Last sale anchor
$1.24M
Feb 6 2026
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
$313 / 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
$6,561
Tax year 2023
Assessed value
$776,500
Assessed 2023
Previous assessed
$776,500
+0.0% YoY
Effective rate
0.84%
On assessed value
Assessed land
$310,200
Assessed improvement
$466,300
Land market value
$310,200
Improvement market value
$466,300
Total market value
$776,500
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
Status
Off-Market
Year built
2018
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Bathrooms
1
Total area
3,356 SF
Lot
0.8 ac (34,848 SF)
Zoning code
CB,COMMUNITY BUSIN
APN
R05519-009-009-000
UPID
US53-1328549
Jurisdiction
NEW HANOVER
Zoning & alternative use
CB,COMMUNITY BUSIN · Wilmington, NC
Zoning CB,COMMUNITY BUSIN · permitted uses
CB,COMMUNITY BUSIN · 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
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$960,000
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
2018
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Bathrooms
1
Lot
0.8 ac
Current owner
From public records · entity-resolved
Gjo Properties LLC
Entity
Mailing address
5113 HWY 70TH WD, MOREHEAD CITY, NC 28557-4505
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2026
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
Feb 6, 2026
$1,240,000
Gjo Properties LLC
Renfrow Properties LLC
Warranty Deed
$930,000 · Ronald S Ochipa Living Trust
Jul 3, 2018
—
Renfrow Properties LLC
—
Trustees Deed
related
$790,500 · First Citizens Bk
Feb 23, 2017
$305,000
Renfrew Properties LLC
Capps,debra R & Larry R
Warranty Deed
—
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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