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Property profile & analytics
OFF-MARKET
Estimated value
$9,315,000
Office buildings
1709 Woodbine St Wilmington, NC 28401-6559
Entity Owned
20-yr Hold
Free & Clear
Property ID
US53-1898571
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1965
Construction
STEEL & CONCRETE
Total area
32,480 SF
Lot
258.11 ac (11,243,272 SF)
Zoning code
IND
APN
R05908-003-002-000
UPID
US53-1898571
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
$6.77M
Comparable Approach
Comparable
$10.19M
Blend (final)
Blend
$9.32M
Owner & transaction history
Nc State Ports Authority · 20 yrs held
Nc State Ports Authority
since 2006
2 recorded transactions
Zoning & alternative use
IND · 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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$7,335,000
6.5%
$6,770,000
7%
$6,285,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$11,625,000
Current use
RESTAURANT
$10,770,000
Change: -7% · Conversion: Moderate
MEDICAL BUILDING
$10,550,000
Change: -9% · Conversion: Easy
WAREHOUSE, STORAGE
$9,515,000
Change: -18% · Conversion: Difficult
RETAIL STORES
$9,440,000
Change: -19% · Conversion: Moderate
Blend value · Realmo final
$9.32M
Range $8.38M – $10.25M · ±10%
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
$287 / 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
$56,435,900
Assessed 2023
Previous assessed
$47,278,000
+19.4% YoY
Assessed land
$3,528,800
Assessed improvement
$52,907,100
Land market value
$3,528,800
Improvement market value
$52,907,100
Total market value
$56,435,900
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1965
Construction
STEEL & CONCRETE
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
36
Stories
1
Units
1
Bathrooms
9
Total area
32,480 SF
Lot
258.11 ac (11,243,272 SF)
Zoning code
IND
APN
R05908-003-002-000
UPID
US53-1898571
Jurisdiction
NEW HANOVER
Zoning & alternative use
IND · Wilmington, NC
Zoning IND · permitted uses
IND · 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
OFFICE BUILDING Current
Est. value
$11.6M
RESTAURANT
Est. value
$10.8M
MEDICAL BUILDING
Est. value
$10.6M
WAREHOUSE, STORAGE
Est. value
$9.5M
RETAIL STORES
Est. value
$9.4M
OFFICE BUILDING Current
RESTAURANT
MEDICAL BUILDING
WAREHOUSE, STORAGE
RETAIL STORES
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
1965
Construction
STEEL & CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
36
Units
1
Bathrooms
9
Lot
258.11 ac
Current owner
From public records · entity-resolved
Nc State Ports Authority
Entity
Free & Clear · 20 yrs held
Mailing address
PO BOX 9002, WILMINGTON, NC 28402-9010
Ownership since
2006
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
Apr 12, 2006
—
Nc State Ports Authority
Wilmington City
Grant Deed
related
—
Oct 27, 2005
—
Nc State Ports Authority
Wilmington City
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.
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