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Property profile & analytics
OFF-MARKET
Estimated value
$6,920,000
Grocery and convenience stores
1437 College Rd Wilmington, NC 28403-5104
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-2223141
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
2012
Construction
WOOD FRAME
Total area
13,081 SF
Lot
1.49 ac (64,904 SF)
Zoning code
RB,REGIONAL BUSINESS
APN
R06107-002-006-000
UPID
US53-2223141
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
-
Trader Joe's Grocery & Convenience Store Food Market
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.44M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.92M
Owner & transaction history
Mdc Nc1 LP · 3 yrs held
Mdc Nc1 LP
since 2023
Last sale
$6.5M
6 recorded transactions
Zoning & alternative use
RB,REGIONAL BUSINESS · Wilmington, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$5.4M
+54.5%
Office building
$4.6M
+32.2%
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
$7,205,000
ML approach
$7,435,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$5,350,000
Change: +55% · Conversion: Easy
OFFICE BUILDING
$4,580,000
Change: +32% · Conversion: Easy
Blend value · Realmo final
$6.92M
Range $6.23M – $7.61M · ±10% · vs last sale $6.52M (Apr 6 2023)
Last sale anchor
$6.52M
Apr 6 2023
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
$529 / 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
$21,417
Tax year 2023
Assessed value
$2,534,600
Assessed 2023
Previous assessed
$2,534,600
+0.0% YoY
Effective rate
0.84%
On assessed value
Assessed land
$629,800
Assessed improvement
$1,904,800
Land market value
$629,800
Improvement market value
$1,904,800
Total market value
$2,534,600
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
2012
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Bathrooms
2
Total area
13,081 SF
Lot
1.49 ac (64,904 SF)
Zoning code
RB,REGIONAL BUSINESS
APN
R06107-002-006-000
UPID
US53-2223141
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
RESTAURANT
Est. value
$5.4M
OFFICE BUILDING
Est. value
$4.6M
RESTAURANT
OFFICE BUILDING
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
2012
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Bathrooms
2
Lot
1.49 ac
Current owner
From public records · entity-resolved
Mdc Nc1 LP
Entity
Mailing address
11995 EL CAMINO REAL, SAN DIEGO, CA 92130-2539
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 6, 2023
$6,501,500
Mdc Nc1 LP
Cole Tr Wilmington Nc LLC
Special Warranty Deed
—
Jul 19, 2021
—
Cole Tr Wilmington Nc LLC
—
Deed
related
$650,000,000 · Jpmorgan Chase Bank NA
Dec 16, 2016
$380,000
Andrea D Margoles
Russ,drew K
Warranty Deed
$304,000 · Corporate Invtrs Mtg
Apr 5, 2012
—
Cap Wilmington LLC
Morris Communications Co LLC
Quit Claim Deed
related
—
Apr 5, 2012
$700,000
Cap Wilmington LLC
National Retail Properties INC
Grant Deed
$4,300,000 · Park Sterling Bank
Apr 5, 2012
$600,000
Cap Wilmington LLC
Hdi Holdings LLC
Quit Claim Deed
related
—
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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