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Property profile & analytics
OFF-MARKET
Estimated value
$5,030,000
Medical Office Space
7420 Market St, Wilmington, NC 28411-9453
Entity Owned
~
Est. High Equity
Property ID
US53-1573770
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL CLINIC
Year built
2006
Construction
WOOD FRAME
Total area
25,628 SF
Lot
2.66 ac (115,870 SF)
Zoning code
O&I,OFFICE & INSTITUTION
APN
R03618-004-003-000
UPID
US53-1573770
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
-
Dr. Siten Patel, MD Physician
-
Patrice Dason Eglinton Pediatrician Physician
-
Noah Pierson Pediatrician Physician
-
Amy Messier Pediatrician Physician
-
Rebecca Lapps, DNP, FNP-BC | Hanover Gastroenterology - NHRMC Physician Group Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.34M
Comparable Approach
Comparable
$5.37M
Blend (final)
Blend
$5.03M
Owner & transaction history
Primary Care Associates LLC
Primary Care Associates LLC
since 2026
5 recorded transactions
Zoning & alternative use
O&I,OFFICE & INSTITUTION · Wilmington, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$8.3M
+7.0%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,615,000
6.5%
$3,335,000
7%
$3,100,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$7,775,000
Current use
OFFICE BUILDING
$8,320,000
Change: +7% · Conversion: Easy
AUTO REPAIR, GARAGE
$7,315,000
Change: -6% · Conversion: Difficult
RETAIL STORES
$6,990,000
Change: -10% · Conversion: Difficult
WAREHOUSE, STORAGE
$6,320,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$5.03M
Range $4.53M – $5.53M · ±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
$196 / 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 2022Property tax & assessments
Tax year 2022
Assessed value
$7,191,200
Assessed 2023
Previous assessed
$7,187,900
+0.0% YoY
Assessed land
$924,600
Assessed improvement
$6,266,600
Land market value
$924,600
Improvement market value
$6,266,600
Total market value
$7,191,200
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
Medical Office Space
Use group
MEDICAL CLINIC
Status
Off-Market
Year built
2006
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Bathrooms
6
Total area
25,628 SF
Lot
2.66 ac (115,870 SF)
Zoning code
O&I,OFFICE & INSTITUTION
APN
R03618-004-003-000
UPID
US53-1573770
Jurisdiction
NEW HANOVER
Zoning & alternative use
O&I,OFFICE & INSTITUTION · Wilmington, NC
Zoning O&I,OFFICE & INSTITUTION · permitted uses
O&I,OFFICE & INSTITUTION · 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
MEDICAL BUILDING Current
Est. value
$7.8M
OFFICE BUILDING
Est. value
$8.3M
AUTO REPAIR, GARAGE
Est. value
$7.3M
RETAIL STORES
Est. value
$7.0M
WAREHOUSE, STORAGE
Est. value
$6.3M
MEDICAL BUILDING Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
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
2006
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Bathrooms
6
Lot
2.66 ac
Current owner
From public records · entity-resolved
Primary Care Associates LLC
Entity
Mailing address
1960 S 16TH ST, WILMINGTON, NC 28401-6676
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 29, 2026
—
Primary Care Associates LLC
—
Deed
related
$12,000,000 · First-citizens Bank & Trust Company A No
Aug 9, 2024
—
Primary Care Associates LLC
—
Deed
related
$11,000,000 · First-citizens Bank & Trust Company A No
Aug 24, 2018
—
Primary Care Associates LLC
—
Grant Deed
related
$12,500,000 · First Citizens Bk & Tr Co
Jan 31, 2017
—
Primary Care Associates LLC
—
Grant Deed
related
$11,050,000 · First Citizens Bk
Feb 22, 2006
—
Primary Care Associates LLC
—
Trustees Deed
related
$3,100,000 · First Citizens Bank & 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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