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Property profile & analytics
OFF-MARKET
Estimated value
$16,730,000
Garden apartment buildings
16 Wedgewood Dr, Spring Lake, NC 28390-7344
Entity Owned
4-yr Hold
Absentee Owner
Property ID
US53-3549143
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1972
Total area
2,000 SF
Lot
15.01 ac (653,836 SF)
Zoning code
RA-20M
APN
010514 0014
UPID
US53-3549143
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
by Request
Comparable Approach
Comparable
$15.31M
Blend (final)
Blend
$16.73M
Owner & transaction history
Ec Spring Lake LLC · 4 yrs held
Ec Spring Lake LLC
since 2022
Last sale
$18.2M
5 recorded transactions
Zoning & alternative use
RA-20M · Spring Lake, 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 Spring Lake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Spring Lake 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%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$16.73M
Range $15.06M – $18.40M · ±10% · vs last sale $18.15M (Jul 5 2022)
Last sale anchor
$18.15M
Jul 5 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
$8,365 / 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
$64,481
Tax year 2023
Assessed value
$7,585,699
Assessed 2023
Previous assessed
$7,585,699
+0.0% YoY
Effective rate
0.85%
On assessed value
Land market value
$545,200
Improvement market value
$7,040,499
Total market value
$7,585,699
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1972
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
1
Stories
1
Rooms
2
Bathrooms
110
Total area
2,000 SF
Lot
15.01 ac (653,836 SF)
Zoning code
RA-20M
APN
010514 0014
UPID
US53-3549143
Jurisdiction
HARNETT
Zoning & alternative use
RA-20M · Spring Lake, NC
Zoning RA-20M · permitted uses
RA-20M · Spring Lake, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Spring Lake. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1972
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Rooms
2
Bathrooms
110
Lot
15.01 ac
Current owner
From public records · entity-resolved
Ec Spring Lake LLC
Entity
Mailing address
32 CROSS ST STE #204, LAKEWOOD, NJ 08701-5572
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 5, 2022
$18,150,000
Ec Spring Lake LLC
Northpoint Lake Charles LLC
Warranty Deed
$12,705,000 · Bethpage FCU
Mar 28, 2013
—
Northpoint Lake Charles LLC
Dominion Property Invs LLC
Quit Claim Deed
related
$3,381,950 · Branch Banking & Trust Co
Jun 24, 2008
—
Dominion Property Invs LLC
—
Grant Deed
related
$7,100,000 · Rbc Bank (usa)
Jun 22, 2006
$2,598,500
Dominion Property Invs LLC
Wellons,florence C
Warranty Deed
—
—
—
Dominion Property Invs LLC
—
Deed Of Trust
related
$300,000 · Rbc Bank (usa)
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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