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Property profile & analytics
OFF-MARKET
Estimated value
$3,575,000
Office buildings
700 Military Cutoff Rd 2, Wilmington, NC 28405-8380
Entity Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-2366969
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2006
Total area
13,000 SF
Lot
0.26 ac (11,326 SF)
Zoning code
CB,COMMUNITY BUSIN
APN
R05100-004-003-002
UPID
US53-2366969
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
-
Signature Fencing LLC General Contractor Construction Company
-
Francis Zwan Loan Service Bank
-
Port City Ortho Dental Office
-
Aimee McClellan,LCSW Counselor
-
Sholar Home Inspections Home Inspector
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.58M
CAP Approach
CAP
$2.71M
Comparable Approach
Comparable
$4.09M
Blend (final)
Blend
$3.58M
Owner & transaction history
Howe Creek Investments LLC · 6 yrs held
Howe Creek Investments LLC
since 2019
Last sale
$3.6M
6 recorded transactions
Zoning & alternative use
CB,COMMUNITY BUSIN · Wilmington, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$5.2M
+62.7%
Medical building
$3.9M
+22.5%
Auto repair, garage
$3.7M
+15.3%
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
$3,575,000
ML approach
$3,575,000
CAP Approach
CAP Return
Estimation
6%
$2,935,000
6.5%
$2,710,000
7%
$2,515,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,220,000
Current use
RESTAURANT
$5,235,000
Change: +63% · Conversion: Moderate
MEDICAL BUILDING
$3,945,000
Change: +22% · Conversion: Easy
AUTO REPAIR, GARAGE
$3,710,000
Change: +15% · Conversion: Difficult
RETAIL STORES
$3,545,000
Change: +10% · Conversion: Moderate
WAREHOUSE, STORAGE
$3,205,000
Change: 0% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,020,000
Change: -6% · Conversion: Easy
Blend value · Realmo final
$3.58M
Range $3.22M – $3.93M · ±10% · vs last sale $3.58M (Aug 14 2024)
Last sale anchor
$3.58M
Aug 14 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
$275 / 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
$24,975
Tax year 2023
Assessed value
$2,955,600
Assessed 2023
Previous assessed
$2,955,600
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed improvement
$2,955,600
Improvement market value
$2,955,600
Total market value
$2,955,600
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2006
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Total area
13,000 SF
Lot
0.26 ac (11,326 SF)
Zoning code
CB,COMMUNITY BUSIN
APN
R05100-004-003-002
UPID
US53-2366969
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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$3.2M
RESTAURANT
Est. value
$5.2M
MEDICAL BUILDING
Est. value
$3.9M
AUTO REPAIR, GARAGE
Est. value
$3.7M
RETAIL STORES
Est. value
$3.5M
WAREHOUSE, STORAGE
Est. value
$3.2M
COMMERCIAL (GENERAL)
Est. value
$3.0M
OFFICE BUILDING Current
RESTAURANT
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
WAREHOUSE, STORAGE
COMMERCIAL (GENERAL)
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
2006
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
0.26 ac
Current owner
From public records · entity-resolved
Howe Creek Investments LLC
Entity
Mailing address
710 MILITARY CUTOFF RD STE #250, WILMINGTON, NC 28405-0001
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
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
Jul 23, 2019
—
Howe Creek Investments LLC
Long Creek Holdings LLC
Warranty Deed
related
$550,000 · Bank & Tr
Aug 8, 2017
$205,000
Earney Reality LLC
Mccarley,john D II & Alice W
Warranty Deed
$500,000 · First Citizens Bk
Oct 7, 2010
$2,000,000
D1 Tn No 2 LLC
Ray Nicole M
Trustees Deed
—
Aug 10, 2007
—
Martin Ventures III LLC
Mayfaire Station LLC
Grant Deed
related
—
Jul 6, 2007
$2,645,500
Martin Ventures III LLC
Mayfaire Station LLC
Warranty Deed
$1,913,901 · Regions Bk/fayette
—
—
Long Creek Holdings LLC
—
Deed Of Trust
related
$800,000 · Select 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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