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Property profile & analytics
FOR LEASE
Turn key restaurants
609 S 15Th St, Wilmington, NC 28401
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-1780648
For Lease
1 / 59
$3,000/Mo
609 S 15Th St, Wilmington, NC 28401
View Listing →
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1963
Construction
CONCRETE
Total area
3,200 SF
Lot
0.59 ac (25,700 SF)
Zoning code
UMX
APN
R05410-011-001-000
UPID
US53-1780648
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
-
Homegrown Market Food Market Farmer's Market
-
Bones (Bike/Boat/Book/etc) Store Pet Store & Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Cargo West LLC · 2 yrs held
Cargo West LLC
since 2023
4 recorded transactions
Zoning & alternative use
UMX · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$2,128
Tax year 2023
Assessed value
$251,800
Assessed 2023
Previous assessed
$251,800
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$86,900
Assessed improvement
$164,900
Land market value
$86,900
Improvement market value
$164,900
Total market value
$251,800
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
Turn key restaurants
Use group
RESTAURANT
Status
For Lease
Year built
1963
Construction
CONCRETE
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Bathrooms
1
Total area
3,200 SF
Lot
0.59 ac (25,700 SF)
Zoning code
UMX
APN
R05410-011-001-000
UPID
US53-1780648
Jurisdiction
NEW HANOVER
Zoning & alternative use
UMX · Wilmington, NC
Zoning UMX · permitted uses
UMX · 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
1963
Construction
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Bathrooms
1
Lot
0.59 ac
Current owner
From public records · entity-resolved
Cargo West LLC
Entity
Mailing address
1605 QUEEN ST, WILMINGTON, NC 28401-5526
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 24, 2023
—
Cargo West LLC
Modern Urban Development LLC
Quit Claim Deed
related
—
Jun 12, 2023
—
Kendro Burgon
Offshore Holdings LLC
Assignment Of Lease (leasehold Sale)
—
May 5, 2014
$660,671
Greenwich Invtrs Xliv Reo LLC
Parker Robbie B
Trustees Deed
—
—
—
Love Center Church INC
—
Deed Of Trust
related
$12,549 · Regions Bank
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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