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Property profile & analytics
OFF-MARKET
Estimated value
$94,050,000
Garden apartment buildings
414 Ml Crk Ct, Wilmington, NC 28403-2794
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US53-3217829
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1998
Total area
29,598 SF
Lot
31.57 ac (1,375,189 SF)
Zoning code
MF-M,MULTI FAM MED DEN
APN
R05506-001-028-000
UPID
US53-3217829
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
-
Mill Creek Apartments Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$74.52M
Blend (final)
Blend
$94.05M
Owner & transaction history
Clpf Mill Creek LLC · 4 yrs held
Clpf Mill Creek LLC
since 2022
Last sale
$95.2M
7 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
$111,290,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$94.05M
Range $84.65M – $103.46M · ±10% · vs last sale $95.20M (May 26 2022)
Last sale anchor
$95.20M
May 26 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
$3,178 / 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
Assessed value
$54,112,400
Assessed 2023
Previous assessed
$54,112,400
+0.0% YoY
Assessed land
$1,340,800
Assessed improvement
$52,771,600
Land market value
$1,340,800
Improvement market value
$52,771,600
Total market value
$54,112,400
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
1998
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
12
Stories
2
Units
24
Bathrooms
156
Total area
29,598 SF
Lot
31.57 ac (1,375,189 SF)
Zoning code
MF-M,MULTI FAM MED DEN
APN
R05506-001-028-000
UPID
US53-3217829
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
1998
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
12
Units
24
Bathrooms
156
Lot
31.57 ac
Current owner
From public records · entity-resolved
Clpf Mill Creek LLC
Entity
Mailing address
230 PARK AVE FL #12, NEW YORK, NY 10169-0009
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
May 26, 2022
$95,200,000
Clpf Mill Creek LLC
Bedrock Holdings II Wilmington LLC
Special Warranty Deed
—
Oct 10, 2014
—
Lsref3 Bravo Wilmington LLC
G & I Vi Mill Creek LP
Quit Claim Deed
related
—
Oct 10, 2014
$40,390,000
Lsref3 Bravo Wilmington LLC
G & I Vi Mill Creek LP
Grant Deed
related
$1,353,483,649 · Lsref3 Reo Finance LLC
Oct 10, 2014
$36,610,000
Lsref3 Bravo Wilmington LLC
G & I Vi Crosswinds LP
Grant Deed
related
$1,353,483,649 · Lsref3 Reo Finance LLC
May 2, 2011
$4,000
Wilmington City
G & I Vi Mill Creek LP
Grant Deed
—
Mar 7, 2008
$33,125,000
G & I Vi Mill Creek
Udr Of Nc
Trustees Deed
$1,215,000 · Red Mortgage Capital INC
Mar 7, 2008
—
G Creek
Udr Of Nc
Quit Claim Deed
related
—
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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