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Property profile & analytics
OFF-MARKET
Estimated value
$2,325,000
Drug stores
2401 College Rd Wilmington, NC 28405-8807
Entity Owned
17-yr Hold
~
Est. High Equity
Property ID
US53-5558999
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2003
Construction
CONCRETE
Total area
11,421 SF
Lot
1.37 ac (59,677 SF)
Zoning code
B-2,BUSINESS DISTRICT
APN
R03412-005-016-000
UPID
US53-5558999
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
-
Walgreens Photo (Bike/Boat/Book/etc) Store
-
Smith Drew DC Alternative Medicine Practice
-
Walgreens Pharmacy Pharmacy
-
FedEx OnSite Postal Service Courier Service
-
Alana Braren Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.74M
Comparable Approach
Comparable
$2.35M
Blend (final)
Blend
$2.33M
Owner & transaction history
Acv Skyline Rado8 LLC · 17 yrs held
Acv Skyline Rado8 LLC
since 2008
2 recorded transactions
Zoning & alternative use
B-2,BUSINESS DISTRICT · Wilmington, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$3.5M
+11.2%
Auto repair, garage
$3.3M
+4.7%
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%
$1,880,000
6.5%
$1,735,000
7%
$1,610,000
Alternative Use
Use
Estimation
RETAIL STORES
$3,115,000
Current use
MEDICAL BUILDING
$3,465,000
Change: +11% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,260,000
Change: +5% · Conversion: Difficult
OFFICE BUILDING
$2,830,000
Change: -9% · Conversion: Easy
WAREHOUSE, STORAGE
$2,815,000
Change: -10% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,655,000
Change: -15% · Conversion: Easy
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
$204 / 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
$15,833
Tax year 2023
Assessed value
$2,928,000
Assessed 2023
Previous assessed
$2,928,000
+0.0% YoY
Effective rate
0.54%
On assessed value
Assessed land
$222,500
Assessed improvement
$2,705,500
Land market value
$222,500
Improvement market value
$2,705,500
Total market value
$2,928,000
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
2003
Construction
CONCRETE
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Bathrooms
2
Total area
11,421 SF
Lot
1.37 ac (59,677 SF)
Zoning code
B-2,BUSINESS DISTRICT
APN
R03412-005-016-000
UPID
US53-5558999
Jurisdiction
NEW HANOVER
Zoning & alternative use
B-2,BUSINESS DISTRICT · Wilmington, NC
Zoning B-2,BUSINESS DISTRICT · permitted uses
B-2,BUSINESS 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
RETAIL STORES Current
Est. value
$3.1M
MEDICAL BUILDING
Est. value
$3.5M
AUTO REPAIR, GARAGE
Est. value
$3.3M
OFFICE BUILDING
Est. value
$2.8M
WAREHOUSE, STORAGE
Est. value
$2.8M
COMMERCIAL (GENERAL)
Est. value
$2.7M
RETAIL STORES Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
OFFICE BUILDING
WAREHOUSE, STORAGE
COMMERCIAL (GENERAL)
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
2003
Construction
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Bathrooms
2
Lot
1.37 ac
Current owner
From public records · entity-resolved
Acv Skyline Rado8 LLC
Entity
Mailing address
PO BOX 1159, DEERFIELD, IL 60015-6002
Ownership since
2008
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
Aug 4, 2008
$2,230,000
Acv Skyline Rado8 LLC
Eckerd Corp
Grant Deed
$72,887 · Fortress Credit Corp
—
—
Acv Skyline Rad08 LLC
—
Deed Of Trust
related
$29,250,000 · Rcc Real Estate INC
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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