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Property profile & analytics
OFF-MARKET
Estimated value
$2,325,000
Strip malls
225 Water St Wilmington, NC 28401-4586
Entity Owned
17-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-1535292
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1900
Construction
CONCRETE
Total area
18,888 SF
Lot
0.45 ac (19,646 SF)
Zoning code
CBD,CENTRAL BUS DIST
APN
R05308-008-003-000
UPID
US53-1535292
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
Current use
Occupant on record · Public records
-
WilmingtonNC.com Travel Services
-
Cryptid Den Bar & Pub
-
Coastal Goat (Bike/Boat/Book/etc) Store
-
European Desserts and Local Favorites Restaurant Cafe & Coffee Shop
-
LibertyX Bitcoin ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.08M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.33M
Owner & transaction history
Bullock II LLC · 17 yrs held
Bullock II LLC
since 2009
4 recorded transactions
Zoning & alternative use
CBD,CENTRAL BUS DIST · Wilmington, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
$3,330,000
6.5%
$3,075,000
7%
$2,855,000
Blend value · Realmo final
$2.33M
Range $2.09M – $2.56M · ±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
$123 / 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
$18,941
Tax year 2023
Assessed value
$2,082,100
Assessed 2023
Previous assessed
$2,082,100
+0.0% YoY
Effective rate
0.91%
On assessed value
Assessed land
$773,000
Assessed improvement
$1,309,100
Land market value
$773,000
Improvement market value
$1,309,100
Total market value
$2,082,100
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
1900
Construction
CONCRETE
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Bathrooms
5
Total area
18,888 SF
Lot
0.45 ac (19,646 SF)
Zoning code
CBD,CENTRAL BUS DIST
APN
R05308-008-003-000
UPID
US53-1535292
Jurisdiction
NEW HANOVER
Zoning & alternative use
CBD,CENTRAL BUS DIST · Wilmington, NC
Zoning CBD,CENTRAL BUS DIST · permitted uses
CBD,CENTRAL BUS DIST · 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.
Building & site characteristics
From public records
Year built
1900
Construction
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Bathrooms
5
Lot
0.45 ac
Current owner
From public records · entity-resolved
Bullock II LLC
Entity
Free & Clear · 17 yrs held
Mailing address
321 N FRNT ST, WILMINGTON, NC 28401-3908
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 5, 2009
—
Bullock II LLC
Hartsoe,charles L & Cheryl B
Grant Deed
related
—
Feb 23, 2009
—
Bullock II LLC
Bullock,john C JR & Jean H
Quit Claim Deed
related
—
Jan 3, 2008
—
Nancy J Bullock
Bullock,john C JR & Jean H
Quit Claim Deed
related
—
Dec 21, 2007
—
Nancy J Bullock
Bullock,john C JR & Jean H
Quit Claim Deed
related
—
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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