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

    21 Frnt St Ste B Wilmington, NC 28401-4476

    • Bars
    • 3,969 SF
    OFF-MARKET
    Last Sale
    Aug 25, 2021
    $300,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-2515958
    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

    • Bars

    Property Details for 21 Frnt St Ste B

    Year built
    1898
    Property size
    3,969 SF
    Zone code
    CBD,CENTRAL BUS DIST
    Property type
    Bars
    Property subtype
    Pubs
    APN
    R04720-010-010-031
    APU
    R04720010010031

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.9492
    Latitude
    34.2359
    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
    $4,862
    $0.00
    $534,500
    $534,500
    -
    $0.00
    $534,500
    $534,500

    Comparable in this City

    • Value Estimation
      $1,425,000
      12,255 SF

      122 Princess St

      BAR, TAVERN • 12,255 SF
      122 Princess St, Wilmington, NC 28401-3949
      View Details
    • Value Estimation by Request
      2,300 SF

      1219 5th Ave

      BAR, TAVERN • 2,300 SF
      1219 5th Ave, Wilmington, NC 28401-6259
      View Details
    • Value Estimation by Request
      1,581 SF

      1608 Castle St

      BAR, TAVERN • 1,581 SF
      1608 Castle St, Wilmington, NC 28401-5523
      View Details
    • Value Estimation
      $600,000
      9,420 SF

      25 3rd St

      BAR, TAVERN • 9,420 SF
      25 3rd St, Wilmington, NC 28401-4528
      View Details
    • Value Estimation
      $1,125,000
      8,500 SF

      1111 Castle St

      BAR, TAVERN • 8,500 SF
      1111 Castle St, Wilmington, NC 28401-5334
      View Details
    • Value Estimation
      $505,000
      5,070 SF

      118 Market St

      BAR, TAVERN • 5,070 SF
      118 Market St, Wilmington, NC 28401-4442
      View Details

    Similar Nearby for Sale

    • $860,000
      2,034 SF

      End-Cap Retail Space For Sale

      2,034 SF retail space leased through 2031.
      109 Market St, Wilmington, NC 28401
      View Details
    • $1,990,000
      4,818 SF

      Downtown Wilmington Restaurant - For Sale

      Prime location, 4,818 sq ft, fully equipped.
      102 2Nd St, Wilmington, NC 28401
      View Details
    • $985,000
      1,516 SF

      Mixed-Use Property in Soda Pop District

      Mixed-use property in the heart of the Soda Pop District.
      1120 Princess St, Wilmington, NC 28401
      View Details
    • $1,195,000
      1,516 SF

      Prime Wilmington Restaurant Opportunity

      Established Restaurant, High-Traffic Location
      1120 Princess St, Wilmington, NC 28401
      View Details
    • $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
      View Details
    • $695,000
      5,300 SF

      Freestanding Retail Building For Sale

      Freestanding retail building in Wilmington with high traffic volume.
      808 S 17Th St, Wilmington, NC 28401
      View Details

    Similar Nearby for Lease

    • $3,500 /Mo
      1,824 SF

      Retail Space in SoFro District

      Vibrant retail space in Wilmington's popular SoFro District.
      1506 S 3Rd St, Wilmington, NC 28401
      View Details
    • $35 SF/Yr
      4,860 SF

      Versatile Space for Lease

      Unique space suitable for retail or food and beverage businesses.
      110 Greenfield St, Wilmington, NC 28401
      View Details
    • $32 SF/Yr
      1,486 SF

      Downtown Retail Space Available

      Prime retail space suitable for restaurant or coffee shop.
      101 North 3Rd St, Wilmington, NC 28401
      View Details
    • $30 SF/Yr
      1,297 SF

      Turnkey Retail Space in Wilmington

      Second-generation retail space ready for immediate food-service operation.
      901 Nutt St, Wilmington, NC 28401
      View Details
    • $850 /Mo
      160 SF

      Unique Cargo District Office Space

      Shipping container workspace in Wilmington's vibrant Cargo District.
      708 S 17Th St, Wilmington, NC 28401
      View Details
    • $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
    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.
    21 Frnt St Ste B
    Wilmington, NC 28401-4476
    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.