OFF-MARKET
Office buildings
Entity Owned
6-yr Hold
~
Est. High Equity
Entity Owned Property summary
AI-generated overview
This exceptional 1,964 sq ft executive office suite is located on the 4th floor of The Promenade in downtown Wilmington, NC, offering stunning views of the city. The space boasts an L-shaped hallway design, ensuring each office benefits from ample size and natural light thanks to exterior windows. A full-size supply/copy room and a large conference room with a kitchenette are included. The suite also has dedicated access to men's and women's restrooms within the common hallway. Five designated parking passes are provided, with additional spaces available for lease at $30 per month. The existing tenant's furniture is available for purchase. The building, a Class A property constructed in 2001 and renovated in 2018, features 20,500 total square feet across five stories, 75 parking spaces, and elevators. Located at 720 N 3rd St, Wilmington, NC 28401, this property is situated in the heart of the Wilmington MSA's CBD, within the Southeastern North Carolina submarket cluster. The 0.2-acre lot is zoned for CBD use (APN: 3118-81-3532.000). This is a rare opportunity to secure prime office space in a highly desirable location.
Property profile
Verified
Property type
Office buildings
Use group
SKYSCRAPER/HIGH-RISE (COM OFFICES)
Year built
2001
Total area
19,720 SF
Lot
0.2 ac (8,712 SF)
Zoning code
CBD,CENTRAL BUS DIST
APN
R04813-015-031-000
UPID
US53-2064966
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Storage Facility
-
Real Estate Agency
-
Corporate Office
-
Law Firm
-
Business To Business Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.11M
Comparable Approach
Comparable
$5.57M
Blend (final)
Blend
$4.30M
Owner & transaction history
since 2019
7 recorded transactions
Zoning & alternative use
CBD,CENTRAL BUS DIST · Wilmington, NC
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 5 comparables with addresses
5 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$4.30M
Value range
$3.87M – $4.73M
±10% around blend
Estimated value / SF
$218 / SF
Confidence
High
5 county-verified comps
Property data
75
Market benchmarks
100
Comparable evidence
50
$3.87M
blend $4.30M
$4.73M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
19,720 SF
Lot area
0.2 ac
Year built
2001
Stories
4
APN
R04813-015-031-000
Assessed value
$2,534,500
3
Income approach: direct capitalization
Partial preview
Income approach indication
$4.11M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$4.45M
@ 6.5% CAP return
$4.11M
@ 7% CAP return
$3.82M
4
Sales comparison
Partial preview
Sales approach indication
$96k
Weighted, 5 comps · high confidence
Evidence
5 found · 5 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
12.1 mi away · 13,828 SF
12.1 mi away · 13,828 SF
12.1 mi away · 13,828 SF
12.1 mi away · 13,828 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$4.30M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 66 sales
$358
-39%
Submarket 306 sales
$325
-33%
County 321 sales
$334
-35%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $218/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
Not available
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
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Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 5 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$2.53M
Move the market yield to see immediate price impact.
Value / SF
$129
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$160k
$3.19M
$2.28M
$1.77M
$177k
$3.55M
$2.53M
$1.97M
$195k
$3.90M
$2.79M
$2.17M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
5 found
High confidence · county-verified
Closest comparable
$65k
12.1 mi · Sep 2025 · $5/SF
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Assessed value
$2,534,500
Assessed 2023
Previous assessed
$2,534,500
+0.0% YoY
Assessed land
$273,100
Assessed improvement
$2,261,400
Land market value
$273,100
Improvement market value
$2,261,400
Total market value
$2,534,500
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
SKYSCRAPER/HIGH-RISE (COM OFFICES)
Status
Off-Market
Year built
2001
Heating
FORCED AIR
Cooling
CENTRAL
Stories
4
Units
1
Total area
19,720 SF
Lot
0.2 ac (8,712 SF)
Zoning code
CBD,CENTRAL BUS DIST
APN
R04813-015-031-000
UPID
US53-2064966
Jurisdiction
NEW HANOVER
Zoning & alternative use
CBD,CENTRAL BUS DIST · Wilmington, NCZoning CBD,CENTRAL BUS DIST · permitted uses
CBD,CENTRAL BUS DIST · Wilmington, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
2001
Heating
FORCED AIR
Cooling
Yes
Stories
4
Units
1
Lot
0.2 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
CBD,CENTRAL BUS DIST
Jurisdiction
Wilmington, NC
Recorded code
CBD,CENTRAL BUS DIST
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for CBD,CENTRAL BUS DIST in Wilmington, NC.
What opens after registration
Zoning profile
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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