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Property profile & analytics
OFF-MARKET
Estimated value
$525,000
Warehouses
1122 Market St, Wilmington, NC 28401-4328
Entity Owned
2-yr Hold
Free & Clear
Property ID
US53-1344012
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1932
Construction
CONCRETE
Total area
3,607 SF
Lot
0.18 ac (7,841 SF)
Zoning code
UMX
APN
R04818-028-003-000
UPID
US53-1344012
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$365k
CAP Approach
CAP
$685k
Comparable Approach
Comparable
$531k
Blend (final)
Blend
$525k
Owner & transaction history
Wilmington Ice Plant LLC · 2 yrs held
Wilmington Ice Plant LLC
since 2023
3 recorded transactions
Zoning & alternative use
UMX · 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
$365,000
CAP Approach
CAP Return
Estimation
6%
$745,000
6.5%
$685,000
7%
$640,000
Blend value · Realmo final
$525k
Range $473k – $578k · ±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
$146 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$1,314
Tax year 2024
Assessed value
$151,000
Assessed 2024
Previous assessed
$155,500
-2.9% YoY
Effective rate
0.87%
On assessed value
Assessed land
$53,500
Assessed improvement
$97,500
Land market value
$53,500
Improvement market value
$97,500
Total market value
$151,000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1932
Construction
CONCRETE
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Total area
3,607 SF
Lot
0.18 ac (7,841 SF)
Zoning code
UMX
APN
R04818-028-003-000
UPID
US53-1344012
Jurisdiction
NEW HANOVER
Zoning & alternative use
UMX · Wilmington, NC
Zoning UMX · permitted uses
UMX · 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.
Building & site characteristics
From public records
Year built
1932
Construction
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
0.18 ac
Current owner
From public records · entity-resolved
Wilmington Ice Plant LLC
Entity
Free & Clear · 2 yrs held
Mailing address
PO BOX 41, MOUNT JACKSON, VA 22842-0041
Ownership since
2023
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
Jul 19, 2023
$630,000
Wilmington Ice Plant LLC
Archie L Harris
Warranty Deed
—
Jul 19, 2023
—
Wilmington Ice Plant LLC
Archie L Harris JR
Deed
—
Jun 1, 2023
—
Archie L Harris JR
Vivian Gail Short
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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