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Property profile & analytics
OFF-MARKET
Estimated value
$710,000
Medical Office Space
5023 Market St, Wilmington, NC 28405-3429
Entity Owned
8-yr Hold
Free & Clear
Property ID
US53-2225416
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL CLINIC
Year built
1974
Total area
7,007 SF
Lot
1.53 ac (66,647 SF)
Zoning code
RB,REGIONAL BUSINESS
APN
R04915-001-015-000
UPID
US53-2225416
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 Kids Dentist Dental Office
-
Grant Brandon Gillett Dental Office
-
Amy Lewis Dental Office
-
Dr. Evan Vallee Dental Office
-
Chavala Melita Harris Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$560k
CAP Approach
CAP
$910k
Comparable Approach
Comparable
$661k
Blend (final)
Blend
$710k
Owner & transaction history
Hhg2 LLC · 8 yrs held
Hhg2 LLC
since 2017
3 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
by Request
ML approach
$560,000
CAP Approach
CAP Return
Estimation
6%
$990,000
6.5%
$910,000
7%
$845,000
Blend value · Realmo final
$710k
Range $639k – $781k · ±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
$101 / 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
$17,770
Tax year 2023
Assessed value
$2,102,900
Assessed 2023
Previous assessed
$2,102,900
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$642,500
Assessed improvement
$1,460,400
Land market value
$642,500
Improvement market value
$1,460,400
Total market value
$2,102,900
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
Medical Office Space
Use group
MEDICAL CLINIC
Status
Off-Market
Year built
1974
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Total area
7,007 SF
Lot
1.53 ac (66,647 SF)
Zoning code
RB,REGIONAL BUSINESS
APN
R04915-001-015-000
UPID
US53-2225416
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
1974
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
1.53 ac
Current owner
From public records · entity-resolved
Hhg2 LLC
Entity
Free & Clear · 8 yrs held
Mailing address
8151 E INDIAN BND RD STE #111, SCOTTSDALE, AZ 85250-4826
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 11, 2019
—
Hhg2 LLC
—
Deed
related
$1,718,000 · National Bk/ar
Oct 30, 2017
$1,065,000
Hhg2 LLC
Southern Hospitality Co
Warranty Deed
—
—
—
Hhg2 LLC
—
Deed Of Trust
related
$1,718,000 · National Bk/ar
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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