New search
Property profile & analytics
FOR LEASE
Community centers
1303 Independence Blvd, Wilmington, NC 28403
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-0808562
For Lease
1 / 2
$1,165,000
1303 Independence Blvd, Wilmington, NC 28403
View Listing →
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1993
Construction
WOOD FRAME
Total area
6,924 SF
Lot
24.11 ac (1,050,232 SF)
Zoning code
RB,REGIONAL BUSINESS
APN
R05517-001-001-000
UPID
US53-0808562
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
-
NC Farm Bureau Insurance Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.03M
CAP Approach
CAP
$1.13M
Comparable Approach
Comparable
$1.34M
Blend (final)
Blend
$1.17M
Owner & transaction history
Cape Fear Public Utility Authority · 2 yrs held
Cape Fear Public Utility Authority
since 2023
4 recorded transactions
Zoning & alternative use
RB,REGIONAL BUSINESS · Wilmington, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.8M
+4.2%
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
$1,025,000
CAP Approach
CAP Return
Estimation
6%
$1,220,000
6.5%
$1,125,000
7%
$1,045,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,760,000
Current use
RETAIL STORES
$1,835,000
Change: +4% · Conversion: Easy
Blend value · Realmo final
$1.17M
Range $1.05M – $1.28M · ±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
$168 / 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
$213,589
Tax year 2023
Assessed value
$25,276,800
Assessed 2023
Previous assessed
$25,276,800
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$6,219,300
Assessed improvement
$19,057,500
Land market value
$6,219,300
Improvement market value
$19,057,500
Total market value
$25,276,800
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
Community centers
Use group
MINI-MALL
Status
For Lease
Year built
1993
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
6
Stories
1
Units
1
Bathrooms
1
Total area
6,924 SF
Lot
24.11 ac (1,050,232 SF)
Zoning code
RB,REGIONAL BUSINESS
APN
R05517-001-001-000
UPID
US53-0808562
Jurisdiction
NEW HANOVER
Zoning & alternative use
RB,REGIONAL BUSINESS · Wilmington, NC
Zoning RB,REGIONAL BUSINESS · permitted uses
RB,REGIONAL BUSINESS · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.8M
RETAIL STORES
Est. value
$1.8M
NEIGHBORHOOD: SHOPPING CENTER Current
RETAIL STORES
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
1993
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
6
Units
1
Bathrooms
1
Lot
24.11 ac
Current owner
From public records · entity-resolved
Cape Fear Public Utility Authority
Entity
Free & Clear · 2 yrs held
Mailing address
235 GOVERNMENT CTR DR, WILMINGTON, NC 28403-1670
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 8, 2023
—
Cape Fear Public Utility Authority
Pac Hanover Apartments LP
Deed
—
Mar 7, 2022
$4,000,000
Pac Hanover Apartments LP
New Market Hanover LP
Special Warranty Deed
$42,256,500 · First Horizon Bank
Dec 23, 2019
$41,234,500
New Market-nover LP
Oleander Co INC
Grant Deed
—
Dec 23, 2019
—
New Market-nover LP
Azalea Plaza Associates LLC
Trustees Deed
related
$64,000,000 · First Citizens Bk
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
