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Property profile & analytics
OFF-MARKET
Estimated value
$2,235,000
Strip malls
1616 Shipyard Blvd, Wilmington, NC 28412-6561
Entity Owned
9-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-1501945
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1989
Construction
CONCRETE
Total area
22,800 SF
Lot
2.43 ac (105,633 SF)
Zoning code
RB,REGIONAL BUSINESS
APN
R06019-003-007-000
UPID
US53-1501945
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
-
First Uniform - Wilmington (Bike/Boat/Book/etc) Store
-
One Belle Bakery Bakery Specialty Food Shop
-
Nail Safari Nail Salon
-
Midtown POP (Vics) (Bike/Boat/Book/etc) Store
-
Grateful Graze, LLC Specialty Food Shop Butcher
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.24M
Owner & transaction history
Weg Holdings LLC · 9 yrs held
Weg Holdings LLC
since 2017
4 recorded transactions
Zoning & alternative use
RB,REGIONAL BUSINESS · Wilmington, 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 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$98 / 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
$19,721
Tax year 2023
Assessed value
$2,333,800
Assessed 2023
Previous assessed
$2,333,800
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$297,000
Assessed improvement
$2,036,800
Land market value
$297,000
Improvement market value
$2,036,800
Total market value
$2,333,800
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1989
Construction
CONCRETE
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Total area
22,800 SF
Lot
2.43 ac (105,633 SF)
Zoning code
RB,REGIONAL BUSINESS
APN
R06019-003-007-000
UPID
US53-1501945
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.
Building & site characteristics
From public records
Year built
1989
Construction
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
2.43 ac
Current owner
From public records · entity-resolved
Weg Holdings LLC
Entity
Free & Clear · 9 yrs held
Mailing address
7223 MASONBORO SOUND RD, WILMINGTON, NC 28409-2949
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
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
Mar 11, 2024
—
Weg Holdings LLC
—
Deed
related
$2,200,000 · Pinnacle Bank
Mar 23, 2017
—
Weg Holdings LLC
Cornerstone Shopping Center Ll
Quit Claim Deed
related
—
Mar 23, 2017
$2,280,000
Weg Holdings LLC
Cornerstone Shopping Center Ll
Grant Deed
$201,000 · Park Sterling Bk
Feb 24, 2011
—
Cornerstone Shopping Ctr LLC
Echols Hilda C Trust
Grant 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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