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    Property profile & analytics

    505 Cobblestone Dr Wilmington, NC 28405-3579

    • Garden apartment buildings
    • 25,986 SF
    • 6.12 lot acres
    OFF-MARKET
    Value Estimation
    $25,960,000
    Last Sale
    Mar 03, 2020
    $23,750,000
    Location Intelligence
    Property ID
    US53-1256339
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Garden apartment buildings

    Property Details for 505 Cobblestone Dr

    Year built
    2001
    Construction
    WOOD FRAME
    Lot size
    6.12 lot acres
    Property size
    25,986 SF
    Zone code
    MF-M,MULTI FAM MED DEN
    Property type
    Garden apartment buildings
    APN
    R04911-001-022-000
    APU
    R04911001022000

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $26,400,000

    • CAP approach

      CAP return
      Estimation
      6%
      $22,730,000
      6.5%
      $25,530,000
      7%
      $22,730,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $27,060,000
      Geo Method
      $24,260,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $25,435,000
      Retail
      $25,455,000
      Mixed-Use
      $23,705,000
      Hospitality
      $22,015,000
      Educational
      $25,865,000
      Residential Income
      $23,450,000
      Energy
      $21,975,000
      Income-Based Land
      $26,775,000
      Food Service
      $21,265,000

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.8845
    Latitude
    34.2469
    CBSA code
    48900
    CBSA name
    WILMINGTON, NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $110,104
    $423,400
    $12,606,600
    $13,030,000
    -
    $423,400
    $12,606,600
    $13,030,000

    Comparable in this City

    • Value Estimation by Request
      138,553 SF

      1829 Sir Tyler Dr

      GARDEN APT, COURT APT (5+ UNITS) • 138,553 SF
      1829 Sir Tyler Dr, Wilmington, NC 28405-1063
      View Details
    • Value Estimation by Request
      129,736 SF

      1817 Sir Tyler Dr

      GARDEN APT, COURT APT (5+ UNITS) • 129,736 SF
      1817 Sir Tyler Dr, Wilmington, NC 28405-8539
      View Details
    • Value Estimation by Request
      93,184 SF

      801 Nature Trl Dr

      GARDEN APT, COURT APT (5+ UNITS) • 93,184 SF
      801 Nature Trl Dr, Wilmington, NC 28405-1386
      View Details
    • Value Estimation
      $25,670,000
      24,048 SF

      5002 Mcclelland Dr

      GARDEN APT, COURT APT (5+ UNITS) • 24,048 SF
      5002 Mcclelland Dr, Wilmington, NC 28405-3073
      View Details
    • Value Estimation by Request
      4,800 SF

      808 Nature Trl Dr

      GARDEN APT, COURT APT (5+ UNITS) • 4,800 SF
      808 Nature Trl Dr, Wilmington, NC 28405-1390
      View Details
    • Value Estimation
      $26,120,000
      12,258 SF

      5009 Mcclelland Dr

      GARDEN APT, COURT APT (5+ UNITS) • 12,258 SF
      5009 Mcclelland Dr, Wilmington, NC 28405-3044
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

    • Contact for pricing
      1,200 SF

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      Retail space available with high traffic and excellent access.
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      View Details
    • $9 SF/Yr
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      Wilmington Industrial Space Available

      28,390± SF industrial space for lease in Wilmington, NC.
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      Medical Office Space in Mayfaire

      Premier medical office space available for sublease in Wilmington.
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      20,000 SF

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      Pad-ready junior box space in Wilmington's commercial district.
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      View Details
    • $850 /Mo
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      Retail space available for lease in Cardinal Trade Center.
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      View Details
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    505 Cobblestone Dr
    Wilmington, NC 28405-3579
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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