New search
Property profile & analytics
OFF-MARKET
Estimated value
$1,560,000
Strip malls
2150 Wrightsville Ave, Wilmington, NC 28403-0271
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-1054325
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1977
Construction
STEEL FRAME
Total area
9,618 SF
Lot
0.76 ac (33,280 SF)
Zoning code
CB,COMMUNITY BUSIN
APN
R05411-004-006-001
UPID
US53-1054325
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
$1.76M
CAP Approach
CAP
$1.57M
Comparable Approach
Comparable
$1.30M
Blend (final)
Blend
$1.56M
Owner & transaction history
Modern Urban Development LLC · 4 yrs held
Modern Urban Development LLC
since 2022
Last sale
$1.5M
1 recorded transaction
Zoning & alternative use
CB,COMMUNITY BUSIN · Wilmington, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$2.5M
+4.2%
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
$1,755,000
ML approach
$1,760,000
CAP Approach
CAP Return
Estimation
6%
$1,695,000
6.5%
$1,565,000
7%
$1,455,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$2,445,000
Current use
RETAIL STORES
$2,545,000
Change: +4% · Conversion: Easy
Blend value · Realmo final
$1.56M
Range $1.40M – $1.72M · ±10% · vs last sale $1.50M (Apr 14 2022)
Last sale anchor
$1.50M
Apr 14 2022
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
$162 / 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
$6,272
Tax year 2023
Assessed value
$742,300
Assessed 2023
Previous assessed
$742,300
+0.0% YoY
Effective rate
0.84%
On assessed value
Assessed land
$83,900
Assessed improvement
$658,400
Land market value
$83,900
Improvement market value
$658,400
Total market value
$742,300
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1977
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Total area
9,618 SF
Lot
0.76 ac (33,280 SF)
Zoning code
CB,COMMUNITY BUSIN
APN
R05411-004-006-001
UPID
US53-1054325
Jurisdiction
NEW HANOVER
Zoning & alternative use
CB,COMMUNITY BUSIN · Wilmington, NC
Zoning CB,COMMUNITY BUSIN · permitted uses
CB,COMMUNITY BUSIN · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$2.4M
RETAIL STORES
Est. value
$2.5M
NEIGHBORHOOD: SHOPPING CENTER Current
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
1977
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
0.76 ac
Current owner
From public records · entity-resolved
Modern Urban Development LLC
Entity
Mailing address
1607 QUEEN ST, WILMINGTON, NC 28401-5526
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 14, 2022
$1,500,000
Modern Urban Development LLC
Ljwn LLC
Warranty Deed
$1,055,000 · United 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2150 Wrightsville Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
