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Property profile & analytics
FOR LEASE
Community centers
228 Old Eastwood Rd, Wilmington, NC 28403
Entity Owned
Free & Clear
Property ID
US53-2173631
For Lease
1 / 2
$8,380,000
228 Old Eastwood Rd, Wilmington, NC 28403
View Listing →
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
2003
Construction
CONCRETE
Total area
89,030 SF
Lot
7.77 ac (338,287 SF)
Zoning code
RB,REGIONAL BUSINESS
APN
R05013-008-081-000
UPID
US53-2173631
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
-
Kohl's Department Store
-
SEPHORA at Kohl's Wilmington Cosmetic Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.72M
Blend (final)
Blend
$8.38M
Owner & transaction history
KOHLS DEPARTMENT STORES INC
KOHLS DEPARTMENT STORES INC
Zoning & alternative use
RB,REGIONAL BUSINESS · 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%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$8.38M
Range $7.54M – $9.22M · ±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
$94 / 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
$60,468
Tax year 2023
Assessed value
$7,156,000
Assessed 2023
Previous assessed
$7,156,000
+0.0% YoY
Effective rate
0.84%
On assessed value
Assessed land
$2,142,400
Assessed improvement
$5,013,600
Land market value
$2,142,400
Improvement market value
$5,013,600
Total market value
$7,156,000
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
Community centers
Use group
MINI-MALL
Status
For Lease
Year built
2003
Construction
CONCRETE
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Bathrooms
3
Total area
89,030 SF
Lot
7.77 ac (338,287 SF)
Zoning code
RB,REGIONAL BUSINESS
APN
R05013-008-081-000
UPID
US53-2173631
Jurisdiction
NEW HANOVER
Zoning & alternative use
RB,REGIONAL BUSINESS · Wilmington, NC
Zoning RB,REGIONAL BUSINESS · permitted uses
RB,REGIONAL BUSINESS · 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
2003
Construction
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Bathrooms
3
Lot
7.77 ac
Current owner
From public records · entity-resolved
KOHLS DEPARTMENT STORES INC
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 2148, MILWAUKEE, WI 53201-2148
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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