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    5842 Greenville Loop Rd Wilmington, NC 28409
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    5842 Greenville Loop Rd Wilmington, NC 28409

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    • Commercial real estate
    • 1.37 lot acres
    Off-Market
    Property ID
    US53-0870994
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 5842 Greenville Loop Rd

    Lot size
    1.37 lot acres
    Property type
    Commercial real estate
    APN
    R06200-007-014-002

    Description

    This exceptional 1.37-acre residential lot presents a unique development opportunity in desirable Wilmington, North Carolina. Located at 5842 Greenville Loop Road, this property boasts 200 feet of road frontage, providing excellent accessibility. The parcel is nestled within a mature tree canopy, offering a tranquil and picturesque setting. Zoned R-20, the land is ideally suited for a variety of residential projects, allowing for diverse development possibilities to suit individual needs and preferences. The property's ample size and desirable location make it an attractive investment for builders, developers, or individuals seeking to construct their dream home. The address is easily accessible via Greenville Loop Road, providing convenient access to local amenities and transportation routes. The lot's size and zoning regulations offer significant flexibility for future development plans. With its combination of size, location, and zoning, this property represents a compelling opportunity to build in a sought-after area of Wilmington. The APN is R06200-007-014-002. The asking price for this exceptional property is $895,000. Don't miss this chance to acquire a piece of Wilmington's desirable real estate market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.8518699
    Latitude
    34.1937344

    Comparable in this City

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    Similar Nearby for Sale

    • $582,500
      2,867 SF

      Income-Generating Multi-Family Home

      Four-bedroom home with two separate one-bedroom apartments.
      327 Pinecliff Dr, Wilmington, NC 28409
      View Details
    • $899,999
      Pending

      Waterfront Townhouse with Boat Slip

      Updated 4-bedroom townhouse with 30' boat slip in Wilmington.
      5431 Marina Club Dr, Wilmington, NC 28409
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    • $4,500,000
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      Wilmington Land with Development Potential

      33 acres near the coast, ideal for subdivision development.
      6358 Myrtle Grove Rd, Wilmington, NC 28409
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    • $207,500
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      Wilmington Homesite Near Waterway

      Homesite in established neighborhood near Intracoastal Waterway, shopping, and beaches.
      1720 Tall Mast Ct, Wilmington, NC 28409
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      Myrtle Grove Land For Sale

      Just under 33 acres near the Intracoastal Waterway.
      6358 Myrtle Grove Rd, Wilmington, NC 28409
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    • Contact for pricing

      Land with Road Frontage

      Land with frontage on Carolina Beach and Myrtle Grove Roads.
      7900 Myrtle Grove Rd, Wilmington, NC 28409
      View Details

    Similar Nearby for Lease

    • Contact for pricing

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      New Class A Office Space

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      Prime Retail Redevelopment Opportunity

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    Wilmington, NC 28409
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

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

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    5842 Greenville Loop Rd, Wilmington, NC, 28409
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