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Property profile & analytics
OFF-MARKET
Estimated value
$23,660,000
Garden apartment buildings
3402 College S Rd, Wilmington, NC 28412-0908
Entity Owned
3-yr Hold
Absentee Owner
Property ID
US53-1843320
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1974
Construction
WOOD FRAME
Total area
8,002 SF
Lot
15.57 ac (678,229 SF)
Zoning code
MF-M,MULTI FAM MED DEN
APN
R06610-002-014-000
UPID
US53-1843320
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
$15.89M
Blend (final)
Blend
$23.66M
Owner & transaction history
80 Grant Street De LLC · 3 yrs held
80 Grant Street De LLC
since 2023
Last sale
$32.1M
4 recorded transactions
Zoning & alternative use
MF-M,MULTI FAM MED DEN · 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
$23.66M
Range $21.29M – $26.03M · ±10% · vs last sale $32.10M (Nov 12 2024)
Last sale anchor
$32.10M
Nov 12 2024
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
$2,957 / 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 2022Property tax & assessments
Tax year 2022
Assessed value
$19,126,500
Assessed 2023
Previous assessed
$19,126,500
+0.0% YoY
Assessed land
$4,724,300
Assessed improvement
$14,402,200
Land market value
$4,724,300
Improvement market value
$14,402,200
Total market value
$19,126,500
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
1974
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
8
Stories
1
Units
8
Bathrooms
2
Total area
8,002 SF
Lot
15.57 ac (678,229 SF)
Zoning code
MF-M,MULTI FAM MED DEN
APN
R06610-002-014-000
UPID
US53-1843320
Jurisdiction
NEW HANOVER
Zoning & alternative use
MF-M,MULTI FAM MED DEN · Wilmington, NC
Zoning MF-M,MULTI FAM MED DEN · permitted uses
MF-M,MULTI FAM MED DEN · 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
1974
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
8
Units
8
Bathrooms
2
Lot
15.57 ac
Current owner
From public records · entity-resolved
80 Grant Street De LLC
Entity
Mailing address
82 HANOVER ST STE #5, PORTLAND, ME 04101-1979
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
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 9, 2023
—
80 Grant Street De LLC
Latitude Pine Valley LLC
Correction Deed
related
—
Aug 26, 2022
$39,750,000
80 Grant Street De LLC
Latitude Pine Valley LLC
Warranty Deed
$23,000,000 · Orec Structured Finance Co LLC
Mar 1, 2018
$18,425,000
Latitude Pine Valley LLC
Governours Square Club LLC
Grant Deed
$11,976,000 · Jones Lang Multifamily LLC
Nov 13, 2014
$14,673,000
Governours Square Club LLC
Raia Properties Nci LLC
Grant Deed
$11,860,000 · Amerisphere Multifamily Fin Ll
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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