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Property profile & analytics
OFF-MARKET
Estimated value
$1,175,000
Drug stores
912 16th St Wilmington, NC 28401-8016
Entity Owned
19-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-1389963
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2007
Total area
4,583 SF
Lot
0.56 ac (24,611 SF)
Zoning code
UMX
APN
R05411-018-003-000
UPID
US53-1389963
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
-
Medical Center Specialty Pharmacy Pharmacy
-
Henry H. Herring Jr, RPH Pharmacy
-
Diana Q. Regina, PharmD Pharmacy
-
Jennifer Kitchens Pharmacy
-
Larry Hovis Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.59M
Blend (final)
Blend
$1.18M
Owner & transaction history
Medical Center Properties LLC · 19 yrs held
Medical Center Properties LLC
since 2006
1 recorded transaction
Zoning & alternative use
UMX · Wilmington, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.6M
+23.2%
Medical building
$1.5M
+11.8%
Warehouse, storage
$1.3M
+0.8%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,330,000
Current use
OFFICE BUILDING
$1,640,000
Change: +23% · Conversion: Easy
MEDICAL BUILDING
$1,490,000
Change: +12% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,340,000
Change: +1% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,310,000
Change: -2% · Conversion: Difficult
Blend value · Realmo final
$1.18M
Range $1.06M – $1.29M · ±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
$256 / 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
$11,216
Tax year 2023
Assessed value
$1,327,300
Assessed 2023
Previous assessed
$1,327,300
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$258,100
Assessed improvement
$1,069,200
Land market value
$258,100
Improvement market value
$1,069,200
Total market value
$1,327,300
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
2007
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Total area
4,583 SF
Lot
0.56 ac (24,611 SF)
Zoning code
UMX
APN
R05411-018-003-000
UPID
US53-1389963
Jurisdiction
NEW HANOVER
Zoning & alternative use
UMX · Wilmington, NC
Zoning UMX · permitted uses
UMX · 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
RETAIL STORES Current
Est. value
$1.3M
OFFICE BUILDING
Est. value
$1.6M
MEDICAL BUILDING
Est. value
$1.5M
WAREHOUSE, STORAGE
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.3M
RETAIL STORES Current
OFFICE BUILDING
MEDICAL BUILDING
WAREHOUSE, STORAGE
AUTO REPAIR, GARAGE
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
2007
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
0.56 ac
Current owner
From public records · entity-resolved
Medical Center Properties LLC
Entity
Mailing address
1919 KNOLLWOOD RD, WILMINGTON, NC 28403-5330
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 21, 2006
—
Medical Center Properties LLC
—
Trustees Deed
related
$893,000 · Bank Of Wilmington
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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