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Property profile & analytics
OFF-MARKET
Estimated value
$3,500,000
Strip malls
5214 Market St, Wilmington, NC 28405-4067
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-1293128
Property summary
AI-generated overview
This prime 15,400 square foot retail strip center, built in 2003, is located at 5214 Market Street, Wilmington, NC 28405. The property boasts a highly visible location at the corner of Walton Drive and Market Street/US Highway 17, experiencing significant daily traffic (56,352 cars). Its strategic placement offers excellent signage opportunities and immediate proximity to major retailers including Costco, Target, Academy Sports, and a Walmart Supercenter. The single-story Class B building is zoned RB-Regional Business (APN: R04916-001-001-000) and currently features multiple tenants. A total of 2,286 square feet of retail space is currently vacant, presenting a unique opportunity for expansion or new business ventures. The property's convenient location just southwest of the College Road on/off ramp ensures easy access and high visibility for potential tenants. Cross streets include Market Street, Walton Road, and Sigmon Road. This well-established center offers a strong foundation for success in a thriving Wilmington market. The property's single building structure simplifies management and maintenance. Interested parties should review the available space and its potential to contribute to their business growth.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2003
Construction
CONCRETE
Total area
14,780 SF
Lot
1.51 ac (65,601 SF)
Zoning code
RB,REGIONAL BUSINESS
APN
R04916-001-001-000
UPID
US53-1293128
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
-
Chopstix Restaurant
-
Tree of Life (Bike/Boat/Book/etc) Store Pharmacy
-
FastMed Urgent Care Medical Clinic
-
John Delucas Medical Clinic
-
Appliances 4 Less Home Appliance Store Hardware & Home Improvement
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.50M
CAP Approach
CAP
$2.41M
Comparable Approach
Comparable
$3.59M
Blend (final)
Blend
$3.50M
Owner & transaction history
Dbk Market Station LLC · 1 yrs held
Dbk Market Station LLC
since 2024
Last sale
$3.5M
6 recorded transactions
Zoning & alternative use
RB,REGIONAL BUSINESS · Wilmington, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$4.5M
+37.5%
Auto repair, garage
$4.2M
+29.4%
Retail stores
$4.0M
+23.6%
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
$3,500,000
ML approach
$3,500,000
CAP Approach
CAP Return
Estimation
6%
$2,605,000
6.5%
$2,405,000
7%
$2,235,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$3,260,000
Current use
MEDICAL BUILDING
$4,485,000
Change: +37% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,220,000
Change: +29% · Conversion: Difficult
RETAIL STORES
$4,030,000
Change: +24% · Conversion: Easy
OFFICE BUILDING
$3,660,000
Change: +12% · Conversion: Moderate
WAREHOUSE, STORAGE
$3,645,000
Change: +12% · Conversion: Difficult
Blend value · Realmo final
$3.50M
Range $3.15M – $3.85M · ±10% · vs last sale $3.50M (Dec 19 2024)
Last sale anchor
$3.50M
Dec 19 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
$237 / 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
$22,714
Tax year 2023
Assessed value
$2,688,000
Assessed 2023
Previous assessed
$2,688,000
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$1,231,600
Assessed improvement
$1,456,400
Land market value
$1,231,600
Improvement market value
$1,456,400
Total market value
$2,688,000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2003
Construction
CONCRETE
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Bathrooms
6
Total area
14,780 SF
Lot
1.51 ac (65,601 SF)
Zoning code
RB,REGIONAL BUSINESS
APN
R04916-001-001-000
UPID
US53-1293128
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.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$3.3M
MEDICAL BUILDING
Est. value
$4.5M
AUTO REPAIR, GARAGE
Est. value
$4.2M
RETAIL STORES
Est. value
$4.0M
OFFICE BUILDING
Est. value
$3.7M
WAREHOUSE, STORAGE
Est. value
$3.6M
NEIGHBORHOOD: SHOPPING CENTER Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
OFFICE BUILDING
WAREHOUSE, STORAGE
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
2003
Construction
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
6
Lot
1.51 ac
Current owner
From public records · entity-resolved
Dbk Market Station LLC
Entity
Mailing address
1227 ROCKINGHAM RD, ROCKINGHAM, NC 28379-4958
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 19, 2024
$3,500,000
Dbk Market Station LLC
Claude Smith Enterprises INC
Special Warranty Deed
$2,500,000 · First Horizon Bank
Sep 10, 2021
$2,200,000
Calude Smith Enterprises INC
Spirakis Properties LLC
Warranty Deed
$1,675,000 · First Bank
Sep 10, 2021
—
Claude Smith Enteprises INC
—
Deed
related
$1,675,000 · First Bank
Jan 6, 2017
—
Spirakis Properties LLC
—
Deed
related
$985,000 · Xenith Bk
—
—
Spirakis Properties LLC
—
Deed Of Trust
related
$1,111,000 · Wells Fargo Bank
—
—
Spirakis Properties LLC
—
Deed Of Trust
related
$985,000 · Xenith Bk
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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