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    Property profile & analytics

    1113 17th St Wilmington, NC 28401-8025

    • Warehouses
    • 65,100 SF
    • 3.90 lot acres
    OFF-MARKET
    Last Sale
    Dec 20, 2022
    $12,250,000
    Value Estimations
    $11,710,000
    Show details
    Cap Rate Potential
    4%
    Warehouses
    Location Intelligence
    Property ID
    US53-2146170
    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

    • Go Store It Self Storage / Storage Facility

    Property Details for 1113 17th St

    Year built
    2018
    Lot size
    3.90 lot acres
    Property size
    65,100 SF
    Zone code
    LI
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    R05415-003-001-000
    APU
    R05415003001000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $12,190,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $10,990,000
      6.5%
      $10,145,000
      7%
      $9,420,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $7,915,000
      Market price range: $2.34M - $9.94M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $19,070,000
      Current use
      RETAIL STORES
      $18,915,000
      Change: -1% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $18,585,000
      Change: -3% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.9252
    Latitude
    34.2226
    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
    2024
    $66,204
    $1,585,700
    $6,249,100
    $7,834,800
    -
    $1,585,700
    $6,249,100
    $7,834,800

    Comparable in this City

    • Value Estimation
      $2,465,000
      23,400 SF

      420 4th St

      MINI-WAREHOUSE, STORAGE • 23,400 SF
      420 4th St, Wilmington, NC 28401-4011
      View Details
    • Value Estimation by Request
      0.20 Acres

      208 Southern Blvd

      MINI-WAREHOUSE, STORAGE • 0.20 Acres
      208 Southern Blvd, Wilmington, NC 28401-7028
      View Details
    • Value Estimation
      $6,670,000
      6,600 SF

      1313 13th St

      MINI-WAREHOUSE, STORAGE • 6,600 SF
      1313 13th St, Wilmington, NC 28401
      View Details
    • Value Estimation
      $795,000
      5,160 SF

      2515 Carolina Bch Rd

      MINI-WAREHOUSE, STORAGE • 5,160 SF
      2515 Carolina Bch Rd, Wilmington, NC 28401-7609
      View Details
    • Value Estimation
      $2,725,000
      27,100 SF

      1525 Frnt St

      MINI-WAREHOUSE, STORAGE • 27,100 SF
      1525 Frnt St, Wilmington, NC 28401-6119
      View Details
    • Value Estimation by Request
      2.03 Acres

      1865 Us Hwy 421st N

      MINI-WAREHOUSE, STORAGE • 2.03 Acres
      1865 Us Hwy 421st N, Wilmington, NC 28401
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      25,000 SF

      Fully Leased Industrial Portfolio

      Multi-tenant industrial portfolio in Wilmington's growing corridor.
      3240 Us Highway 421 N, Wilmington, NC 28401
      View Details
    • $2,195,000
      28.24 Acres

      Wilmington Industrial Riverfront Property

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      Wilmington Land Assemblage For Sale

      6.11 acres with income and redevelopment potential in Wilmington, NC.
      1003 S 17Th St, Wilmington, NC 28401
      View Details
    • Contact for pricing
      12,500 SF

      Riverfront Warehouse on Large Parcel

      Warehouse on 28.24 acres near downtown Wilmington.
      1233 Castle Hayne Rd, Wilmington, NC 28401
      View Details
    • $250,000

      CBD Zoned Land For Sale

      Land in vibrant Wilmington area, zoned CBD.
      1211 N 4Th St, Wilmington, NC 28401
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    • Contact for pricing

      Industrial Development Tracts For Sale

      24.7 AC industrial development tracts near downtown Wilmington, NC.
      400 Sampson St, Wilmington, NC 28401
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    Similar Nearby for Lease

    • $11 SF/Yr
      2,000 SF

      Downtown Warehouse in Soda Pop District

      Versatile warehouse space in downtown's vibrant Soda Pop District.
      921 Princess St, Wilmington, NC 28401
      View Details
    • $4 SF/Yr
      70,000 SF

      Wilmington Warehouse Space Available

      Industrial warehouse, 2,500-5,000 sq ft
      1200 Castle Hayne Rd, Wilmington, NC 28401
      View Details
    • Contact for pricing
      12,000 SF

      New Industrial/Flex Space Available

      New 12,000 SF industrial/flex space for pre-lease in Wilmington.
      311 Metro Cir, Wilmington, NC 28401
      View Details
    • Contact for pricing
      8,505 SF

      Warehouse Space with Conditioned Area

      Warehouse space featuring a conditioned area, offices, and loading docks.
      1220 South 13Th St, Wilmington, NC 28401
      View Details
    • $8 SF/Yr
      115,000 SF

      Wilmington Industrial Flex Space

      Class A flex space, Hwy 421, NC.
      2820 Us Highway 421, Wilmington, NC 28401
      View Details
    • $35 SF/Yr
      1,500 SF

      Adaptable Flex Space in Wilmington

      Flex space in Wilmington's Soda Pop District for rent.
      920 Princess St, Wilmington, NC 28401
      View Details
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    1113 17th St
    Wilmington, NC 28401-8025
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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
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