Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1620 Martin St Wilmington, NC 28401-6482

    • Day care centers
    • 0.24 lot acres
    OFF-MARKET
    Last Sale
    Apr 30, 2020
    $1,162,500
    Value Estimations
    $1,460,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-2076590
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Day care centers

    Property Details for 1620 Martin St

    Lot size
    0.24 lot acres
    Zone code
    O&I-1
    Property type
    Day care centers
    APN
    R05415-011-002-000
    APU
    R05415011002000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,010,000
      ML approach
      $1,505,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.926
    Latitude
    34.219
    CBSA code
    48900
    CBSA name
    WILMINGTON, NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $0.00
    $63,000
    $0.00
    $63,000
    -
    $63,000
    $0.00
    $63,000

    Comparable in this City

    • Value Estimation
      $1,020,000
      12,734 SF

      2310 Canterwood Dr

      DAY CARE, PRE-SCHOOL • 12,734 SF
      2310 Canterwood Dr, Wilmington, NC 28401-7328
      View Details
    • Value Estimation by Request
      4,575 SF

      2407 Flint Dr

      DAY CARE, PRE-SCHOOL • 4,575 SF
      2407 Flint Dr, Wilmington, NC 28401
      View Details
    • Value Estimation
      $2,515,000
      11,525 SF

      735 Medical Ctr Dr

      DAY CARE, PRE-SCHOOL • 11,525 SF
      735 Medical Ctr Dr, Wilmington, NC 28401-7574
      View Details
    • Value Estimation by Request
      6,925 SF

      1950 Amphitheater Dr

      DAY CARE, PRE-SCHOOL • 6,925 SF
      1950 Amphitheater Dr, Wilmington, NC 28401-6500
      View Details
    • Value Estimation by Request
      3,139 SF

      1100 Orange St

      DAY CARE, PRE-SCHOOL • 3,139 SF
      1100 Orange St, Wilmington, NC 28401
      View Details
    • Value Estimation
      $1,395,000
      11,184 SF

      1401 16th St

      DAY CARE, PRE-SCHOOL • 11,184 SF
      1401 16th St, Wilmington, NC 28401-6423
      View Details

    Similar Nearby for Sale

    • $899,000
      4,985 SF

      Historic Wilmington Adaptive Reuse Opportunity

      Highly visible corner lot near downtown, Riverwalk, and Brooklyn Arts.
      416 Walnut St, Wilmington, NC 28401
      View Details
    • $280,000

      Port City Marina Boat Slip

      Prime boat slip in downtown Wilmington's Port City Marina.
      10 Harnett St, Wilmington, NC 28401
      View Details
    • $2,495,000
      14,197 SF

      Prime Wilmington Commercial Property

      14,197 SF, 1.51 Acres, $2.495M
      920 6Th St, Wilmington, NC 28401
      View Details
    • $16,000,000
      59,940 SF

      Wilmington Hotel Investment Opportunity

      109-Room Holiday Inn Express, High ROI
      839 Medical Center Dr, Wilmington, NC 28401
      View Details
    • $740,000
      1,796 SF

      Wilmington Commercial Property - Prime Location

      1,796 sq ft, 0.14 acre lot, $740,000
      501 Greenfield St, Wilmington, NC 28401
      View Details
    • $995,000

      Commercial Lots on Carolina Beach

      Four commercial lots and one residential lot for sale.
      1940 Carolina Beach Rd, Wilmington, NC 28401
      View Details

    Similar Nearby for Lease

    • $8 SF/Yr
      102,419 SF

      Bottle Works Building: Wilmington, NC

      Historic building, mixed-use spaces, prime location.
      921 Princess St, Wilmington, NC 28401
      View Details
    • $22 SF/Yr
      2,016 SF

      Downtown Wilmington Retail Space

      Prime Retail/Office, Princess Street
      244 Princess St, Wilmington, NC 28401
      View Details
    • $1,500 /Mo
      350 SF

      Unique Studio Space in Wilmington

      One-of-a-kind studio in the Cargo District for rent.
      707 S 16Th St, Wilmington, NC 28401
      View Details
    • $3,000 /Mo
      1,229 SF

      Wilmington Commercial Space For Rent

      Flexible commercial space with UMX zoning in Wilmington, NC.
      1120 S 3Rd St, Wilmington, NC 28401
      View Details
    • $2,200 /Mo
      1,000 SF

      Historic Downtown Wilmington Office Space

      Furnished office space with city views in historic building.
      2 N Front St Unit D, Wilmington, NC 28401
      View Details
    • $20 SF/Yr
      2,728 SF

      Downtown Wilmington Open Plan Office

      Open plan office space in historic downtown Wilmington.
      228 Front St, Wilmington, NC 28401
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1620 Martin St
    Wilmington, NC 28401-6482
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.