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Property profile & analytics
OFF-MARKET
Estimated value
$4,415,000
Garden apartment buildings
251 Kerr Ave, Wilmington, NC 28403-1454
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-0111157
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
2013
Construction
STEEL FRAME
Total area
30,276 SF
Lot
2.37 ac (103,237 SF)
Zoning code
RB,REGIONAL BUSINESS
APN
R04918-003-007-000
UPID
US53-0111157
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
-
Isabella's beauty salon llc Barber Shop
-
Bellas Day Spa Spa & Massage Center Skin Care Clinic
-
Restaurante SON DELICIAS Food Market
-
LibertyX Bitcoin ATM Atm
-
K & D's Mini Mart Grocery & Convenience Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.14M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.42M
Owner & transaction history
Bonnet Court LLC · 4 yrs held
Bonnet Court LLC
since 2022
Last sale
$4.0M
7 recorded transactions
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
$4,620,000
ML approach
$5,140,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$4.42M
Range $3.97M – $4.86M · ±10% · vs last sale $3.95M (Feb 28 2022)
Last sale anchor
$3.95M
Feb 28 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
$146 / 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
$41,140
Tax year 2023
Assessed value
$4,868,600
Assessed 2023
Previous assessed
$4,868,600
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$383,200
Assessed improvement
$4,485,400
Land market value
$383,200
Improvement market value
$4,485,400
Total market value
$4,868,600
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
2013
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
3
Stories
2
Units
30
Total area
30,276 SF
Lot
2.37 ac (103,237 SF)
Zoning code
RB,REGIONAL BUSINESS
APN
R04918-003-007-000
UPID
US53-0111157
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
2013
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
3
Units
30
Lot
2.37 ac
Current owner
From public records · entity-resolved
Bonnet Court LLC
Entity
Mailing address
480 W 84TH ST STE #201, HIALEAH, FL 33014-3601
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 28, 2022
$3,950,000
Bonnet Court LLC
Ivy Investment III LLC
Special Warranty Deed
—
Jan 14, 2014
$775,000
Ritz Dev 7 LLC
Real Properties LLC
Warranty Deed
$1,703,550 · First Cmnty Bk
Feb 8, 2006
$150,000
Real Properties LLC
Blake,eugene JR
Warranty Deed
—
Nov 4, 2005
$194,000
Eugene Blake JR.
Owens,cynthia B
Warranty Deed
—
—
—
Ritz Dev 7 LLC
—
Deed Of Trust
related
$2,480,000 · Everbank
—
—
Real Properties LLC
—
Deed Of Trust
related
$115,131 · First Bank
—
—
Ivy Investment Ih LLC
—
Deed Of Trust
related
$2,940,000 · Natixis
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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