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Property profile & analytics
OFF-MARKET
Estimated value
$31,870,000
Commercial real estate
1519 Lk Br Dr, Wilmington, NC 28401-7809
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US53-3290705
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1941
Total area
136,416 SF
Lot
37.05 ac (1,613,898 SF)
Zoning code
MF-M,MULTI FAM MED DEN
APN
R05418-004-002-000
UPID
US53-3290705
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
-
The Life at Lakeside Villas Apartment Building Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$36.05M
Blend (final)
Blend
$31.87M
Owner & transaction history
1519 Lake Branch Drive Wilmington L · 3 yrs held
1519 Lake Branch Drive Wilmington L
since 2022
Last sale
$29.0M
2 recorded transactions
Zoning & alternative use
MF-M,MULTI FAM MED DEN · Wilmington, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$48.8M
+62.8%
Restaurant
$45.2M
+50.9%
Medical building
$44.3M
+47.8%
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
$39,130,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$29,990,000
Current use
OFFICE BUILDING
$48,820,000
Change: +63% · Conversion: Easy
RESTAURANT
$45,240,000
Change: +51% · Conversion: Difficult
MEDICAL BUILDING
$44,315,000
Change: +48% · Conversion: Easy
WAREHOUSE, STORAGE
$39,955,000
Change: +33% · Conversion: Difficult
RETAIL STORES
$39,640,000
Change: +32% · Conversion: Easy
AUTO REPAIR, GARAGE
$38,945,000
Change: +30% · Conversion: Difficult
Blend value · Realmo final
$31.87M
Range $28.68M – $35.06M · ±10% · vs last sale $29.00M (Dec 16 2022)
Last sale anchor
$29.00M
Dec 16 2022
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
$234 / 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
$18,237,900
Assessed 2023
Previous assessed
$25,851,200
-29.5% YoY
Assessed land
$1,696,800
Assessed improvement
$16,541,100
Land market value
$1,696,800
Improvement market value
$16,541,100
Total market value
$18,237,900
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1941
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
5
Stories
1
Units
2
Bathrooms
8
Total area
136,416 SF
Lot
37.05 ac (1,613,898 SF)
Zoning code
MF-M,MULTI FAM MED DEN
APN
R05418-004-002-000
UPID
US53-3290705
Jurisdiction
NEW HANOVER
Zoning & alternative use
MF-M,MULTI FAM MED DEN · Wilmington, NC
Zoning MF-M,MULTI FAM MED DEN · permitted uses
MF-M,MULTI FAM MED DEN · 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
COMMERCIAL (GENERAL) Current
Est. value
$30.0M
OFFICE BUILDING
Est. value
$48.8M
RESTAURANT
Est. value
$45.2M
MEDICAL BUILDING
Est. value
$44.3M
WAREHOUSE, STORAGE
Est. value
$40.0M
RETAIL STORES
Est. value
$39.6M
AUTO REPAIR, GARAGE
Est. value
$38.9M
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
RESTAURANT
MEDICAL BUILDING
WAREHOUSE, STORAGE
RETAIL STORES
AUTO REPAIR, GARAGE
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
1941
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
5
Units
2
Bathrooms
8
Lot
37.05 ac
Current owner
From public records · entity-resolved
1519 Lake Branch Drive Wilmington L
Individual
Mailing address
780 3RD AVE RM #4400, NEW YORK, NY 10017-2012
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 16, 2022
$29,000,000
1519 Lake Branch Drive Wilmington L
Garden Lake Estates Limited Partner
Special Warranty Deed
$26,100,000 · Key Bank NA
Dec 16, 2022
—
1519 Lake Branch Drive Wilmington L
Garden Lake Estates Limited Partner
Warranty 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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