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    Property profile & analytics

    9 Estelle Lee Pl Wilmington, NC 28401-3360

    • Hotels
    • 172,712 SF
    • 0.76 lot acres
    OFF-MARKET
    Value Estimations
    $16,025,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1381803
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Hotels

    Property Details for 9 Estelle Lee Pl

    Year built
    2017
    Lot size
    0.76 lot acres
    Property size
    172,712 SF
    Zone code
    CBD,CENTRAL BUS DIST
    Property type
    Hotels
    APN
    R04716-001-023-000
    APU
    R04716001023000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $19,641,000
      Market price range: $3.50M - $25.7M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.952
    Latitude
    34.2422
    CBSA code
    48900
    CBSA name
    WILMINGTON, NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $309,359
    $2,454,500
    $31,552,200
    $34,006,700
    -
    $2,454,500
    $31,552,200
    $34,006,700

    Comparable in this City

    • Value Estimation
      $5,500,000
      7,040 SF

      505 2nd St

      HOTEL • 7,040 SF
      505 2nd St, Wilmington, NC 28401-3314
      View Details
    • Value Estimation
      $520,000
      3,436 SF

      105 2nd St

      HOTEL • 3,436 SF
      105 2nd St, Wilmington, NC 28401
      View Details
    • Value Estimation
      $515,000
      5,114 SF

      101 2nd St

      HOTEL • 5,114 SF
      101 2nd St, Wilmington, NC 28401-4401
      View Details
    • Value Estimation
      $4,975,000
      58,717 SF

      225 Grace St

      HOTEL • 58,717 SF
      225 Grace St, Wilmington, NC 28401-3916
      View Details
    • Value Estimation
      $13,330,000
      126,338 SF

      301 Water St

      HOTEL • 126,338 SF
      301 Water St, Wilmington, NC 28401-3934
      View Details
    • Value Estimation
      $4,705,000
      59,940 SF

      839 Medical Ctr Dr

      HOTEL • 59,940 SF
      839 Medical Ctr Dr, Wilmington, NC 28401-7598
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      59,940 SF

      Holiday Inn Express & Suites

      109-room hotel in Wilmington, North Carolina for sale.
      839 Medical Center Dr, Wilmington, NC 28401
      View Details
    • $5,599,999
      10,400 SF

      Boutique Hotel in Downtown Wilmington

      Luxury boutique hotel with 15 suites in downtown Wilmington.
      505 N 2Nd St, Wilmington, NC 28401
      View Details
    • New
      $2,175,000
      6,290 SF

      Historic Wilmington Bed & Breakfast

      Award-winning bed and breakfast in Wilmington's Historic District.
      412 S 3Rd St, Wilmington, NC 28401
      View Details
    • New
      $1,795,000
      4,761 SF

      Historic Downtown Wilmington Home

      Historic 4,761 sq ft home in downtown Wilmington.
      118 S 4Th St, Wilmington, NC 28401
      View Details
    • Contact for pricing
      4,985 SF

      Historic Wilmington Adaptive Reuse Opportunity

      Highly visible corner lot near downtown, Riverwalk, and Brooklyn Arts.
      416 Walnut St, Wilmington, NC 28401
      View Details
    • $2,295,000
      6,290 SF

      Historic Wilmington Bed & Breakfast

      Award-winning bed and breakfast in Wilmington's Historic District.
      412 S 3Rd St, Wilmington, NC 28401
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Downtown Wilmington Executive Office Space

      Furnished office space in downtown Wilmington, short-term leases.
      404 N 3Rd St, Wilmington, NC 28401
      View Details
    • Contact for pricing

      Turnkey Retail Space in Wilmington

      Move-in-ready retail suite in Wilmington's vibrant waterfront district.
      32 Harnett St, Wilmington, NC 28401
      View Details
    • $15 SF/Yr
      17,600 SF

      Planned Light Industrial Build-to-Suit

      Planned 17,600 SF light industrial space for lease.
      3515 Us Highway 421 N, Wilmington, NC 28401
      View Details
    • Contact for pricing
      22,060 SF

      Industrial Space Near Interstate 140

      Available industrial space in Wilmington Trade Center near Interstate 140.
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      View Details
    • Contact for pricing

      Freestanding Building on 16th Street

      Freestanding building with ample parking and flexible space options.
      1984 S 16Th St, Wilmington, NC 28401
      View Details
    • $32 SF/Yr
      1,486 SF

      Downtown Retail Space Available

      Prime retail space suitable for restaurant or coffee shop.
      101 North 3Rd St, Wilmington, NC 28401
      View Details
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    9 Estelle Lee Pl
    Wilmington, NC 28401-3360
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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