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Property profile & analytics
OFF-MARKET
Estimated value
$8,500,000
Strip malls
806 College Rd, Wilmington, NC 28403-4410
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-1439346
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1980
Construction
WOOD FRAME
Total area
24,163 SF
Lot
3.85 ac (167,706 SF)
Zoning code
RB,REGIONAL BUSINESS
APN
R05515-002-002-002
UPID
US53-1439346
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
-
Wow Hot Daily Deals Bin Store Furniture & Home Goods Home Decor Store
-
U-Haul Neighborhood Dealer Car Rental Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.50M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.89M
Blend (final)
Blend
$8.50M
Owner & transaction history
Am Real Property LLC · 1 yrs held
Am Real Property LLC
since 2024
Last sale
$8.5M
3 recorded transactions
Zoning & alternative use
RB,REGIONAL BUSINESS · Wilmington, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$9.9M
+60.9%
Office building
$8.5M
+37.7%
Commercial (general)
$7.6M
+23.5%
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
$8,500,000
ML approach
$8,500,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$6,140,000
Current use
RESTAURANT
$9,880,000
Change: +61% · Conversion: Difficult
OFFICE BUILDING
$8,455,000
Change: +38% · Conversion: Moderate
COMMERCIAL (GENERAL)
$7,585,000
Change: +24% · Conversion: Easy
MEDICAL BUILDING
$7,330,000
Change: +19% · Conversion: Difficult
AUTO REPAIR, GARAGE
$6,900,000
Change: +12% · Conversion: Difficult
RETAIL STORES
$6,395,000
Change: +4% · Conversion: Easy
Blend value · Realmo final
$8.50M
Range $7.65M – $9.35M · ±10% · vs last sale $8.50M (Jul 12 2024)
Last sale anchor
$8.50M
Jul 12 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
$352 / 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
$36,000
Tax year 2023
Assessed value
$4,260,300
Assessed 2023
Previous assessed
$4,260,300
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$1,504,400
Assessed improvement
$2,755,900
Land market value
$1,504,400
Improvement market value
$2,755,900
Total market value
$4,260,300
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1980
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
1
Units
1
Bathrooms
3
Total area
24,163 SF
Lot
3.85 ac (167,706 SF)
Zoning code
RB,REGIONAL BUSINESS
APN
R05515-002-002-002
UPID
US53-1439346
Jurisdiction
NEW HANOVER
Zoning & alternative use
RB,REGIONAL BUSINESS · Wilmington, NC
Zoning RB,REGIONAL BUSINESS · permitted uses
RB,REGIONAL BUSINESS · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$6.1M
RESTAURANT
Est. value
$9.9M
OFFICE BUILDING
Est. value
$8.5M
COMMERCIAL (GENERAL)
Est. value
$7.6M
MEDICAL BUILDING
Est. value
$7.3M
AUTO REPAIR, GARAGE
Est. value
$6.9M
RETAIL STORES
Est. value
$6.4M
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
OFFICE BUILDING
COMMERCIAL (GENERAL)
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
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
1980
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Units
1
Bathrooms
3
Lot
3.85 ac
Current owner
From public records · entity-resolved
Am Real Property LLC
Entity
Free & Clear · 1 yrs held
Mailing address
207 WALCOTT WAY, CARY, NC 27519-9555
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 12, 2024
$8,500,000
Am Real Property LLC
Hospitality Holding LLC
Special Warranty Deed
—
May 13, 2019
—
Hospitality Holding LLC
University Square Outlet M LLC
Warranty Deed
related
$375,000 · Carolina First Bk
—
—
University Square Outlet Mall
—
Deed Of Trust
related
$2,700,000 · Keysource Com'l 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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