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Property profile & analytics
OFF-MARKET
Estimated value
$7,205,000
Garden apartment buildings
5630 Lucas Ct 207 Leland, NC 28451-4427
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US53-2034135
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
2022
Total area
28,198 SF
Lot
6.5 ac (283,140 SF)
Zoning code
MF
APN
029LA030
UPID
US53-2034135
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.10M
Blend (final)
Blend
$7.21M
Owner & transaction history
Cm Investment Properties II LLC · 20 yrs held
Cm Investment Properties II LLC
since 2006
1 recorded transaction
Zoning & alternative use
MF · Leland, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$7.7M
+69.3%
Retail stores
$6.5M
+41.4%
Office building
$6.4M
+39.7%
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 Leland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Leland 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$4,560,000
Current use
RESTAURANT
$7,725,000
Change: +69% · Conversion: Difficult
RETAIL STORES
$6,450,000
Change: +41% · Conversion: Difficult
OFFICE BUILDING
$6,375,000
Change: +40% · Conversion: Moderate
AUTO REPAIR, GARAGE
$4,890,000
Change: +7% · Conversion: Difficult
WAREHOUSE, STORAGE
$4,575,000
Change: +0% · Conversion: Difficult
Blend value · Realmo final
$7.21M
Range $6.48M – $7.93M · ±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
$256 / 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
Property tax & assessments
Assessed value
$16,921,950
Assessed 2023
Previous assessed
$1,038,120
+1,530.1% YoY
Assessed land
$948,690
Assessed improvement
$15,973,260
Land market value
$948,690
Improvement market value
$15,973,260
Total market value
$16,921,950
Applied tax rate
31.0000
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
2022
Heating
HEAT PUMP
Cooling
CENTRAL
Total area
28,198 SF
Lot
6.5 ac (283,140 SF)
Zoning code
MF
APN
029LA030
UPID
US53-2034135
Jurisdiction
BRUNSWICK
Zoning & alternative use
MF · Leland, NC
Zoning MF · permitted uses
MF · Leland, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Leland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$4.6M
RESTAURANT
Est. value
$7.7M
RETAIL STORES
Est. value
$6.5M
OFFICE BUILDING
Est. value
$6.4M
AUTO REPAIR, GARAGE
Est. value
$4.9M
WAREHOUSE, STORAGE
Est. value
$4.6M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
RETAIL STORES
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
2022
Heating
HEAT PUMP
Cooling
Yes
Lot
6.5 ac
Current owner
From public records · entity-resolved
Cm Investment Properties II LLC
Entity
Mailing address
1202 LK PARK BLVD NA, CAROLINA BEACH, NC 28428-4131
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 7, 2006
$440,000
Cm Investment Properties II LLC
Henry L Kitchin JR
Trustees Deed
related
$385,000 · Branch Banking And Trust Co
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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