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Property profile & analytics
OFF-MARKET
Estimated value
$930,000
Office Spaces
18 Water St Ste 2 Wilmington, NC 28401-4477
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-2373336
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1920
Construction
CONCRETE
Total area
1,225 SF
Zoning code
CBD,CENTRAL BUS DIST
APN
R05308-001-001-002
UPID
US53-2373336
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
$930k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$609k
Blend (final)
Blend
$930k
Owner & transaction history
Borges Real Estate Holdings INC · 2 yrs held
Borges Real Estate Holdings INC
since 2024
Last sale
$930,000
5 recorded transactions
Zoning & alternative use
CBD,CENTRAL BUS DIST · 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
$930,000
ML approach
$930,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$930k
Range $837k – $1.02M · ±10% · vs last sale $930k (Apr 8 2024)
Last sale anchor
$930k
Apr 8 2024
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
$759 / 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
$2,522
Tax year 2023
Assessed value
$277,200
Assessed 2023
Previous assessed
$277,200
+0.0% YoY
Effective rate
0.91%
On assessed value
Assessed improvement
$277,200
Improvement market value
$277,200
Total market value
$277,200
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 Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
1920
Construction
CONCRETE
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
1,225 SF
Zoning code
CBD,CENTRAL BUS DIST
APN
R05308-001-001-002
UPID
US53-2373336
Jurisdiction
NEW HANOVER
Zoning & alternative use
CBD,CENTRAL BUS DIST · Wilmington, NC
Zoning CBD,CENTRAL BUS DIST · permitted uses
CBD,CENTRAL BUS DIST · 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
1920
Construction
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
1
Current owner
From public records · entity-resolved
Borges Real Estate Holdings INC
Entity
Mailing address
1307 WOODFIELD CT, WILMINGTON, NC 28409-2683
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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
Apr 8, 2024
$930,000
Borges Real Estate Holdings INC
Wainwright Property Group LLC
Deed
$1,000,000 · Ready Capital Corp
Aug 1, 2017
$535,000
Wainwright Property Group LLC
Beatty,keith M
Warranty Deed
$589,000 · Suntrust Bk
Mar 22, 2011
—
Keith M Beatty
—
Trustees Deed
related
$2,500,000 · Suntrust Bank NA
Dec 10, 2008
$350,000
Keith M Beatty
Matt,frederick J
Warranty Deed
—
—
—
Keith M Beatty
—
Deed Of Trust
related
$245,000 · Park Sterling Bank
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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