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Property profile & analytics
OFF-MARKET
Estimated value
$1,255,000
Office Spaces
414 Chestnut St 1 Wilmington, NC 28401-4045
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-2351385
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1957
Total area
5,411 SF
Lot
0.12 ac (5,227 SF)
Zoning code
HD,HISTORIC DISTRICT
APN
R04817-019-010-001
UPID
US53-2351385
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
-
Wilmington City Engineer City Government Office
-
Dr. Angelina C. Marcil, DDS Dental Office
-
Brush Dental Care Dental Office
-
Brandon K. Farrell DDS, Brush Dental Care Dental Office
-
Dr. Brandon K. Farrell, DDS Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.54M
CAP Approach
CAP
$1.13M
Comparable Approach
Comparable
$1.55M
Blend (final)
Blend
$1.26M
Owner & transaction history
Investicore Prop Co 13 LLC · 4 yrs held
Investicore Prop Co 13 LLC
since 2021
Last sale
$1.2M
2 recorded transactions
Zoning & alternative use
HD,HISTORIC DISTRICT · 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
$1,540,000
CAP Approach
CAP Return
Estimation
6%
$1,220,000
6.5%
$1,130,000
7%
$1,045,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,935,000
Current use
RESTAURANT
$1,795,000
Change: -7% · Conversion: Moderate
MEDICAL BUILDING
$1,760,000
Change: -9% · Conversion: Easy
WAREHOUSE, STORAGE
$1,585,000
Change: -18% · Conversion: Difficult
RETAIL STORES
$1,570,000
Change: -19% · Conversion: Moderate
Blend value · Realmo final
$1.26M
Range $1.13M – $1.38M · ±10% · vs last sale $1.20M (Dec 13 2021)
Last sale anchor
$1.20M
Dec 13 2021
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
$232 / 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
$5,960
Tax year 2023
Assessed value
$705,300
Assessed 2023
Previous assessed
$705,300
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed improvement
$705,300
Improvement market value
$705,300
Total market value
$705,300
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
Office Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
1957
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
5,411 SF
Lot
0.12 ac (5,227 SF)
Zoning code
HD,HISTORIC DISTRICT
APN
R04817-019-010-001
UPID
US53-2351385
Jurisdiction
NEW HANOVER
Zoning & alternative use
HD,HISTORIC DISTRICT · Wilmington, NC
Zoning HD,HISTORIC DISTRICT · permitted uses
HD,HISTORIC 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
OFFICE BUILDING Current
Est. value
$1.9M
RESTAURANT
Est. value
$1.8M
MEDICAL BUILDING
Est. value
$1.8M
WAREHOUSE, STORAGE
Est. value
$1.6M
RETAIL STORES
Est. value
$1.6M
OFFICE BUILDING Current
RESTAURANT
MEDICAL BUILDING
WAREHOUSE, STORAGE
RETAIL STORES
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
1957
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.12 ac
Current owner
From public records · entity-resolved
Investicore Prop Co 13 LLC
Entity
Mailing address
9200 HUNTING CT, MATTHEWS, NC 28105-6598
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
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
Dec 13, 2021
$1,200,000
Investicore Prop Co 13 LLC
Chestnut Building Properties LLC
Special Warranty Deed
$780,000 · Farmers & Merchants Bank
—
—
Chestnut Building Props LLC
—
Deed Of Trust
related
$972,000 · Rbc Centura Bank
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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