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Property profile & analytics
OFF-MARKET
Estimated value
$1,190,000
Hotels
117 2nd St, Wilmington, NC 28401-4458
Entity Owned
1-yr Hold
Free & Clear
Property ID
US53-5750474
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1953
Construction
CONCRETE
Total area
7,794 SF
Lot
0.48 ac (20,952 SF)
Zoning code
HD,HISTORIC DISTRICT
APN
R05405-002-003-000
UPID
US53-5750474
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
by Request
CAP Approach
CAP
$1.23M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.19M
Owner & transaction history
117 2nd LLC · 1 yrs held
117 2nd LLC
since 2024
7 recorded transactions
Zoning & alternative use
HD,HISTORIC DISTRICT · 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%
$1,330,000
6.5%
$1,230,000
7%
$1,140,000
Blend value · Realmo final
$1.19M
Range $1.07M – $1.31M · ±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
$153 / 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 2022Property tax & assessments
Tax year 2022
Assessed value
$583,700
Assessed 2023
Previous assessed
$1,275,000
-54.2% YoY
Assessed land
$583,700
Land market value
$583,700
Total market value
$583,700
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1953
Construction
CONCRETE
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
8
Bathrooms
13
Total area
7,794 SF
Lot
0.48 ac (20,952 SF)
Zoning code
HD,HISTORIC DISTRICT
APN
R05405-002-003-000
UPID
US53-5750474
Jurisdiction
NEW HANOVER
Zoning & alternative use
HD,HISTORIC DISTRICT · Wilmington, NC
Zoning HD,HISTORIC DISTRICT · permitted uses
HD,HISTORIC DISTRICT · 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
1953
Construction
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
8
Bathrooms
13
Lot
0.48 ac
Current owner
From public records · entity-resolved
117 2nd LLC
Entity
Free & Clear · 1 yrs held
Mailing address
4030 PO BOX 93217TH RD #349, PASADENA, CA 91109-3217
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 28, 2024
—
117 2nd LLC
Dock And 2nd LLC
Deed
—
Oct 1, 2018
$1,331,000
Dock & 2nd LLC
Second Street Corp
Warranty Deed
$2,000,000 · Tsu R Tomo Trust (ct)
Feb 28, 2014
$760,000
Second Street Corp
Scbt NA
Grant Deed
$670,000 · Square 1 Bk
Jun 15, 2012
$1,200,000
First Fedl Bk
2nd Street Inn LLC
Warranty Deed
related
—
Sep 17, 2007
$1,200,000
2nd Street Inn LLC
Barnes,johnny H & Angela K
Warranty Deed
$1,200,000 · Cape Fear Bank
—
—
2nd Street Inn LLC
—
Deed Of Trust
related
$50,000 · Cape Fear Bank
—
—
Johnny H Barnes
—
Deed Of Trust
related
$50,000 · Bank Of Wilmington
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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