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    Property profile & analytics

    2006 16th St Wilmington, NC 28401-6613

    • Assisted living facilities
    • 32,264 SF
    • 2.96 lot acres
    OFF-MARKET
    Value Estimations
    $1,310,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-0870724
    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

    • Mark Semken / Physician
    • Serenity Terpenning / Physician
    • Pamela Zuravel / Physician
    • Stephanie Holder / Physician
    • Lynn Fahning / Physician

    Property Details for 2006 16th St

    Year built
    1966
    Construction
    CONCRETE
    Lot size
    2.96 lot acres
    Property size
    32,264 SF
    Zone code
    O&I-1
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    R06007-002-011-000
    APU
    R06007002011000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,060,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,562,000
      Market price range: $723k - $2.74M

    • Alternative Use

      Use
      Estimation
      HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
      $1,855,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.9261
    Latitude
    34.2091
    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
    2023
    $34,119
    $1,469,100
    $2,568,700
    $4,037,800
    -
    $1,469,100
    $2,568,700
    $4,037,800

    Comparable in this City

    • Value Estimation
      $1,595,000
      13,943 SF

      1605 Robin Hood Rd

      HOMES (RETIRED, NURSING) • 13,943 SF
      1605 Robin Hood Rd, Wilmington, NC 28401-6640
      View Details
    • Value Estimation
      $930,000
      15,841 SF

      1406 Physicians Dr

      HOMES (RETIRED, NURSING) • 15,841 SF
      1406 Physicians Dr, Wilmington, NC 28401-7335
      View Details
    • Value Estimation
      $2,580,000
      61,300 SF

      2305 Silver Strm Ln

      HOMES (RETIRED, NURSING) • 61,300 SF
      2305 Silver Strm Ln, Wilmington, NC 28401-7645
      View Details
    • Value Estimation
      $1,530,000
      45,234 SF

      820 Wellington Ave

      HOMES (RETIRED, NURSING) • 45,234 SF
      820 Wellington Ave, Wilmington, NC 28401-7618
      View Details
    • Value Estimation by Request
      3,880 SF

      501 15th St

      HOMES (RETIRED, NURSING) • 3,880 SF
      501 15th St, Wilmington, NC 28401-5536
      View Details
    • Value Estimation
      $8,580,000
      66,690 SF

      1202 Medical Ctr Dr

      MEDICAL CLINIC • 66,690 SF
      1202 Medical Ctr Dr, Wilmington, NC 28401-7307
      View Details

    Similar Nearby for Sale

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      7,445 SF

      Turnkey Medical Office For Sale

      Move-in-ready medical facility in a prime location.
      1222 Medical Center Dr, Wilmington, NC 28401
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      Wilmington Medical Office For Sale

      Medical office building in Wilmington's established medical district.
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      Medical Space Near Hospital

      2,522 SF medical space in Hospital Plaza Office Park.
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    • $742,000

      Brooklyn Arts District Land Parcel

      Land in Wilmington's Central Business District, development opportunity.
      816-822 North 4Th St, Wilmington, NC 28401
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    • $499,900
      3,692 SF

      Spacious Mixed-Use Property on Large Lot

      3-bedroom property with B-1 zoning, ideal for residential or commercial.
      120 Yorktown Dr, Wilmington, NC 28401
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    • $740,000
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      Wilmington Commercial Property - Prime Location

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

    Similar Nearby for Lease

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      5 SF

      Wilmington Industrial Site For Lease

      5.67-acre industrial site ideal for manufacturers, contractors, and logistics.
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      91,500 SF

      Wrightsboro Business Park Flex Space

      Flex space in Wilmington, NC, with office and warehouse components.
      2704 Castle Hayne Rd, Wilmington, NC 28401
      View Details
    • $31 SF/Yr
      2,729 SF

      Class-A Office Building For Rent

      Class-A office building with on-site parking and recent renovations.
      300 North 3Rd St, Wilmington, NC 28401
      View Details
    • $4,500 /Mo

      Laydown Yard in Roymac Park

      2.02 acre laydown yard with convenient highway and port access.
      310 Metro Cir, Wilmington, NC 28401
      View Details
    • Contact for pricing
      513 SF

      Downtown Wilmington Office Space

      513 sq ft office space for lease in Wilmington.
      214 Redcross St, Wilmington, NC 28401
      View Details
    • Contact for pricing
      5,328 SF

      Office Space Near Hospital

      First floor office space available for lease near hospital.
      1960 South 17Th St, Wilmington, NC 28401
      View Details
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    2006 16th St
    Wilmington, NC 28401-6613
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    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
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