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Property profile & analytics
OFF-MARKET
Estimated value
$6,760,000
High-rise multifamily apartments
120 Baldwin Dr, Leland, NC 28451-1936
Entity Owned
5-yr Hold
Property ID
US53-2767716
Property profile
Verified
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Year built
2019
Construction
WOOD
Total area
27,930 SF
Lot
2.23 ac (97,139 SF)
Zoning code
T4O
APN
038BB02610
UPID
US53-2767716
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
$6.90M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.05M
Blend (final)
Blend
$6.76M
Owner & transaction history
Latitude Harrington Apartments LLC · 5 yrs held
Latitude Harrington Apartments LLC
since 2021
Last sale
$6.8M
3 recorded transactions
Zoning & alternative use
T4O · Leland, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$7.7M
+69.3%
Retail stores
$6.4M
+41.4%
Office building
$6.3M
+39.7%
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 Leland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Leland 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
$6,645,000
ML approach
$6,895,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$4,520,000
Current use
RESTAURANT
$7,650,000
Change: +69% · Conversion: Difficult
RETAIL STORES
$6,390,000
Change: +41% · Conversion: Difficult
OFFICE BUILDING
$6,315,000
Change: +40% · Conversion: Moderate
AUTO REPAIR, GARAGE
$4,845,000
Change: +7% · Conversion: Difficult
WAREHOUSE, STORAGE
$4,530,000
Change: +0% · Conversion: Difficult
Blend value · Realmo final
$6.76M
Range $6.08M – $7.44M · ±10% · vs last sale $6.75M (May 28 2021)
Last sale anchor
$6.75M
May 28 2021
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
$242 / 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
Property tax & assessments
Assessed value
$14,543,080
Assessed 2024
Previous assessed
$14,543,080
+0.0% YoY
Assessed land
$301,050
Assessed improvement
$14,242,030
Land market value
$301,050
Improvement market value
$14,242,030
Total market value
$14,543,080
Applied tax rate
31.0000
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
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Status
Off-Market
Year built
2019
Construction
WOOD
Heating
HEAT PUMP
Cooling
CENTRAL
Total area
27,930 SF
Lot
2.23 ac (97,139 SF)
Zoning code
T4O
APN
038BB02610
UPID
US53-2767716
Jurisdiction
BRUNSWICK
Zoning & alternative use
T4O · Leland, NC
Zoning T4O · permitted uses
T4O · Leland, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Leland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$4.5M
RESTAURANT
Est. value
$7.7M
RETAIL STORES
Est. value
$6.4M
OFFICE BUILDING
Est. value
$6.3M
AUTO REPAIR, GARAGE
Est. value
$4.8M
WAREHOUSE, STORAGE
Est. value
$4.5M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
RETAIL STORES
OFFICE BUILDING
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
2019
Construction
WOOD
Heating
HEAT PUMP
Cooling
Yes
Lot
2.23 ac
Current owner
From public records · entity-resolved
Latitude Harrington Apartments LLC
Entity
Mailing address
324 S BEVERLY DR STE #300, BEVERLY HILLS, CA 90212-4822
Ownership since
2021
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
Jun 25, 2024
—
Latitude Harrington Apartments LLC
—
Deed
related
$75,000,000 · Bds IV Mortgage Capital W LLC
May 28, 2021
$6,750,000
Latitude Harrington Apartments LLC
Harrington Village Dev Group I LLC
Special Warranty Deed
—
May 28, 2021
—
Latitude Harrengton Apartments LLC
—
Deed
related
$53,160,000 · Tre Spcm Portfolio
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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