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Property profile & analytics
OFF-MARKET
Estimated value
$4,390,000
Commercial real estate
220 Grn Mdws Dr Wilmington, NC 28405-4722
Entity Owned
8-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-1764000
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
2001
Construction
STEEL FRAME
Total area
15,000 SF
Lot
4.28 ac (186,437 SF)
Zoning code
I-2,INDUSTRIAL DISTRICT
APN
R04300-007-026-000
UPID
US53-1764000
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.06M
Blend (final)
Blend
$4.39M
Owner & transaction history
Fwf Associates LLC · 8 yrs held
Fwf Associates LLC
since 2017
2 recorded transactions
Zoning & alternative use
I-2,INDUSTRIAL DISTRICT · Wilmington, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$6.0M
+73.3%
Medical building
$4.6M
+30.5%
Auto repair, garage
$4.3M
+22.8%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$3,485,000
Current use
RESTAURANT
$6,040,000
Change: +73% · Conversion: Difficult
MEDICAL BUILDING
$4,550,000
Change: +30% · Conversion: Easy
AUTO REPAIR, GARAGE
$4,280,000
Change: +23% · Conversion: Difficult
RETAIL STORES
$4,090,000
Change: +17% · Conversion: Easy
OFFICE BUILDING
$3,715,000
Change: +7% · Conversion: Easy
WAREHOUSE, STORAGE
$3,700,000
Change: +6% · Conversion: Difficult
Blend value · Realmo final
$4.39M
Range $3.95M – $4.83M · ±10%
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
$293 / 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
Assessed value
$2,371,700
Assessed 2023
Previous assessed
$2,371,700
+0.0% YoY
Assessed land
$371,200
Assessed improvement
$2,000,500
Land market value
$371,200
Improvement market value
$2,000,500
Total market value
$2,371,700
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
2001
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
1
Units
1
Bathrooms
6
Total area
15,000 SF
Lot
4.28 ac (186,437 SF)
Zoning code
I-2,INDUSTRIAL DISTRICT
APN
R04300-007-026-000
UPID
US53-1764000
Jurisdiction
NEW HANOVER
Zoning & alternative use
I-2,INDUSTRIAL DISTRICT · Wilmington, NC
Zoning I-2,INDUSTRIAL DISTRICT · permitted uses
I-2,INDUSTRIAL DISTRICT · 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
COMMERCIAL (GENERAL) Current
Est. value
$3.5M
RESTAURANT
Est. value
$6.0M
MEDICAL BUILDING
Est. value
$4.6M
AUTO REPAIR, GARAGE
Est. value
$4.3M
RETAIL STORES
Est. value
$4.1M
OFFICE BUILDING
Est. value
$3.7M
WAREHOUSE, STORAGE
Est. value
$3.7M
COMMERCIAL (GENERAL) Current
RESTAURANT
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
OFFICE BUILDING
WAREHOUSE, STORAGE
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
2001
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Units
1
Bathrooms
6
Lot
4.28 ac
Current owner
From public records · entity-resolved
Fwf Associates LLC
Entity
Mailing address
321 N FRNT ST STE #300, WILMINGTON, NC 28401-3908
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 26, 2017
—
Fwf Associates LLC
—
Deed
related
$600,000 · First Citizens Bk
—
—
Fwf Associates LLC
—
Deed Of Trust
related
$600,000 · First Citizens Bk
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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