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Property profile & analytics
OFF-MARKET
Estimated value
$940,000
Sports & entertainment properties
7979 Market St, Wilmington, NC 28411-9383
Entity Owned
12-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-0075724
Property profile
Verified
Property type
Sports & entertainment properties
Use group
RECREATIONAL, ENTERTAINMENT
Year built
2000
Construction
STEEL FRAME
Total area
14,816 SF
Lot
3.25 ac (141,570 SF)
Zoning code
O&I,OFFICE & INSTITUTION
APN
R03611-009-001-000
UPID
US53-0075724
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
-
David A. Johnson, PT Physician
-
Sea Coast Physical Therapy: Phelps Mary Jane Physician
-
Renew Physiotherapy Wilmington - Porters Neck Physician
-
TruFit Gym-Wilmington Porters Neck Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$595k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.28M
Blend (final)
Blend
$940k
Owner & transaction history
Blue Gem INC · 12 yrs held
Blue Gem INC
since 2014
4 recorded transactions
Zoning & alternative use
O&I,OFFICE & INSTITUTION · Wilmington, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.4M
+13.7%
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
$595,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RECREATIONAL/ENTERTAINMENT (GENERAL)
$1,250,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,420,000
Change: +14% · Conversion: Difficult
Blend value · Realmo final
$940k
Range $846k – $1.03M · ±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
$63 / 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
$15,458
Tax year 2023
Assessed value
$2,763,000
Assessed 2023
Previous assessed
$2,763,000
+0.0% YoY
Effective rate
0.56%
On assessed value
Assessed land
$640,200
Assessed improvement
$2,122,800
Land market value
$640,200
Improvement market value
$2,122,800
Total market value
$2,763,000
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
Sports & entertainment properties
Use group
RECREATIONAL, ENTERTAINMENT
Status
Off-Market
Year built
2000
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Total area
14,816 SF
Lot
3.25 ac (141,570 SF)
Zoning code
O&I,OFFICE & INSTITUTION
APN
R03611-009-001-000
UPID
US53-0075724
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
RECREATIONAL/ENTERTAINMENT (GENERAL) Current
Est. value
$1.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.4M
RECREATIONAL/ENTERTAINMENT (GENERAL) Current
NEIGHBORHOOD: SHOPPING CENTER
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
2000
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
3.25 ac
Current owner
From public records · entity-resolved
Blue Gem INC
Entity
Free & Clear · 12 yrs held
Mailing address
1846 BANKING ST, GREENSBORO, NC 27408-7222
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2014
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
Jan 31, 2014
$2,237,500
Blue Gem INC
I & V Properties LLC
Warranty Deed
—
May 18, 2005
$1,975,000
I & V Properties LLC
Tri-coast Properties LLC
Warranty Deed
$1,775,000 · Fnb Southeast
—
—
I & V Properties LLC
—
Deed Of Trust
related
$320,000 · Newbridge Bank
—
—
I & V Properties LLC
—
Deed Of Trust
related
$2,000,000 · Fnb Southeast
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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