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Property profile & analytics
OFF-MARKET
Estimated value
$880,000
Medical Office Space
2106 17th St, Wilmington, NC 28401-7408
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US53-1514131
Property summary
AI-generated overview
This exceptional 3,700 square foot executive office building in Wilmington, North Carolina, presents a unique investment opportunity. Located at 2106 S 17th St, in the Hospital/Independence submarket of New Hanover County, this Class B property sits on a 0.41-acre lot. Built in 1967, the single-tenant building is entirely brick with attractive glass fronts, offering excellent visibility and curb appeal. Currently vacant, the entire 3,700 square feet is available for immediate occupancy. The property boasts ample parking, a significant advantage in this area. Previously used as a medical billing office, the building's design originally incorporated plans for a drive-through pharmacy, suggesting potential for a variety of uses. Its corner location provides exceptional access and exposure. The property's size and location make it ideal for a range of businesses seeking a prominent presence in a thriving Wilmington neighborhood. The zip code is 28401. This is a rare opportunity to acquire a well-situated, versatile commercial property in a desirable location.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL CLINIC
Year built
1968
Construction
WOOD FRAME
Total area
3,700 SF
Lot
0.41 ac (17,903 SF)
Zoning code
O&I-1
APN
R06011-002-002-002
UPID
US53-1514131
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
$1.03M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.15M
Blend (final)
Blend
$880k
Owner & transaction history
Village Commercial Properties LLC · 3 yrs held
Village Commercial Properties LLC
since 2023
Last sale
$850,000
3 recorded transactions
Zoning & alternative use
O&I-1 · Wilmington, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.3M
+10.2%
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
$1,225,000
ML approach
$1,030,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,200,000
Current use
OFFICE BUILDING
$1,325,000
Change: +10% · Conversion: Easy
WAREHOUSE, STORAGE
$1,085,000
Change: -10% · Conversion: Difficult
RETAIL STORES
$1,075,000
Change: -11% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,055,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$880k
Range $792k – $968k · ±10% · vs last sale $850k (Jun 1 2023)
Last sale anchor
$850k
Jun 1 2023
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
$238 / 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
$5,596
Tax year 2023
Assessed value
$662,300
Assessed 2023
Previous assessed
$662,300
+0.0% YoY
Effective rate
0.84%
On assessed value
Assessed land
$286,900
Assessed improvement
$375,400
Land market value
$286,900
Improvement market value
$375,400
Total market value
$662,300
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
Medical Office Space
Use group
MEDICAL CLINIC
Status
Off-Market
Year built
1968
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
3,700 SF
Lot
0.41 ac (17,903 SF)
Zoning code
O&I-1
APN
R06011-002-002-002
UPID
US53-1514131
Jurisdiction
NEW HANOVER
Zoning & alternative use
O&I-1 · Wilmington, NC
Zoning O&I-1 · permitted uses
O&I-1 · 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
MEDICAL BUILDING Current
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.3M
WAREHOUSE, STORAGE
Est. value
$1.1M
RETAIL STORES
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.1M
MEDICAL BUILDING Current
OFFICE BUILDING
WAREHOUSE, STORAGE
RETAIL STORES
AUTO REPAIR, GARAGE
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
1968
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.41 ac
Current owner
From public records · entity-resolved
Village Commercial Properties LLC
Entity
Mailing address
PO BOX 1870, RAEFORD, NC 28376-3870
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 1, 2025
—
Village Commercial Properties LLC
—
Deed
related
$595,000 · Iserve Residential Lending LLC
Jun 1, 2023
$850,000
Village Commercial Properties LLC
Dajo Corporation
Warranty Deed
$650,000 · Dajo Corporation INC
Feb 3, 2020
$675,000
Dajo Corporation
Capsule Associates LLC
Warranty Deed
—
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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