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Property profile & analytics
OFF-MARKET
Estimated value
$2,475,000
Strip malls
5424 Oleander Dr, Wilmington, NC 28403-5846
Entity Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-2115453
Property summary
AI-generated overview
Willow Woods Arbor, situated at 5424 Oleander Dr, Wilmington, NC 28403, presents a prime retail sublease opportunity. Suite 102, encompassing 1,531 square feet, will become available for lease by late spring 2025. This space is ideally located within the Willow Woods Arbor complex in New Hanover County. The property is classified as retail with an office subtype and features multiple tenancies. Prospective tenants should be aware that this is a sublease arrangement, and any lease terms extending beyond February 2027 will necessitate approval from the primary landlord. It's crucial to remember that the current tenant remains in occupancy
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1996
Construction
STEEL FRAME
Total area
23,244 SF
Lot
2.23 ac (97,139 SF)
Zoning code
CB,COMMUNITY BUSIN
APN
R06206-010-005-000
UPID
US53-2115453
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
-
Zumba with Wendy Joyner Gym & Fitness Center
-
Jazzercise Wilmington Fitness Studio Gym & Fitness Center
-
Ethos Jiu Jitsu and Fitness Training Center Sports School
-
Rebel Yoga and Pilates Gym & Fitness Center
-
Liberty's Cleaners (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.78M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.12M
Blend (final)
Blend
$2.48M
Owner & transaction history
Hospitality Holding LLC · 5 yrs held
Hospitality Holding LLC
since 2020
Last sale
$2.5M
7 recorded transactions
Zoning & alternative use
CB,COMMUNITY BUSIN · 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
$2,480,000
ML approach
$2,775,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.48M
Range $2.23M – $2.72M · ±10% · vs last sale $2.50M (Aug 5 2020)
Last sale anchor
$2.50M
Aug 5 2020
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
$106 / 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
$22,462
Tax year 2023
Assessed value
$2,658,200
Assessed 2023
Previous assessed
$2,658,200
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$914,800
Assessed improvement
$1,743,400
Land market value
$914,800
Improvement market value
$1,743,400
Total market value
$2,658,200
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
1996
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Total area
23,244 SF
Lot
2.23 ac (97,139 SF)
Zoning code
CB,COMMUNITY BUSIN
APN
R06206-010-005-000
UPID
US53-2115453
Jurisdiction
NEW HANOVER
Zoning & alternative use
CB,COMMUNITY BUSIN · Wilmington, NC
Zoning CB,COMMUNITY BUSIN · permitted uses
CB,COMMUNITY BUSIN · 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
1996
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
2.23 ac
Current owner
From public records · entity-resolved
Hospitality Holding LLC
Entity
Mailing address
2075 JUNIPER LK RD, WEST END, NC 27376-8919
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 7, 2020
—
Hospitality Holding LLC
—
Deed
related
$300,000 · First Citizens Bk
Aug 5, 2020
$2,500,000
Hospitality Holding LLC
Woody Commercial LLC
Grant Deed
$5,700,000 · First Citizens Bk
Mar 16, 2020
—
Woody Commercial LLC
John K JR
Quit Claim Deed
related
—
Oct 26, 2018
—
Woody Commercial LLC
—
Deed
related
$950,000 · Southern Bk
Aug 25, 2017
—
Woody Commercial LLC
Woody,john K JR & Judy W
Quit Claim Deed
related
—
—
—
John K Woody JR.
—
Deed Of Trust
related
$1,050,000 · Standard Insurance Co
—
—
Woody Commercial LLC
—
Deed Of Trust
related
$950,000 · Southern Bk
—
—
Hospitality Holding LLC
—
Deed Of Trust
related
$300,000 · First Citizens 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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