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    Property profile & analytics

    Wilmington, NC 28405

    • Super regional malls
    • 38,452 SF
    • 0.91 lot acres
    OFF-MARKET
    Value Estimations
    $4,840,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-3827554
    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

    • Super regional malls

    Property Details

    Year built
    2017
    Lot size
    0.91 lot acres
    Property size
    38,452 SF
    Zone code
    MX
    Property type
    Super regional malls
    Property subtype
    Shopping centers
    APN
    R05000-003-285-000
    APU
    R05000003285000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $6,780,000
      6.5%
      $6,255,000
      7%
      $5,810,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $3,131,000
      Market price range: $1.35M - $5.36M

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

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.8319
    Latitude
    34.2442
    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
    $56,307
    $735,500
    $5,928,100
    $6,663,600
    -
    $735,500
    $5,928,100
    $6,663,600

    Comparable in this City

    • Value Estimation
      $2,935,000
      22,894 SF

      6835 Main St, Unit G-1

      REGIONAL SHOPPING CENTER, MALL • 22,894 SF
      6835 Main St, Wilmington, NC 28405-4168
      View Details
    • Value Estimation
      $11,020,000
      75,094 SF

      1138 Military Cutoff Rd

      REGIONAL SHOPPING CENTER, MALL • 75,094 SF
      1138 Military Cutoff Rd, Wilmington, NC 28405-3642
      View Details
    • Value Estimation
      $1,795,000
      7,202 SF

      1055 International Dr

      REGIONAL SHOPPING CENTER, MALL • 7,202 SF
      1055 International Dr, Wilmington, NC 28405-4176
      View Details
    • Value Estimation
      $1,205,000
      9,100 SF

      890 Town Ctr Dr

      REGIONAL SHOPPING CENTER, MALL • 9,100 SF
      890 Town Ctr Dr, Wilmington, NC 28405-8339
      View Details
    • Value Estimation
      $1,405,000
      9,712 SF

      1156 Military Cutoff Rd

      REGIONAL SHOPPING CENTER, MALL • 9,712 SF
      1156 Military Cutoff Rd, Wilmington, NC 28405-3642
      View Details
    • Value Estimation
      $12,630,000
      140,265 SF

      940 Inspiration Dr

      REGIONAL SHOPPING CENTER, MALL • 140,265 SF
      940 Inspiration Dr, Wilmington, NC 28405-4171
      View Details

    Similar Nearby for Sale

    • $2,950,000

      Wilmington Retail/Showroom Opportunity

      8,000 SF retail/showroom building with high visibility.
      4616 Coddington Loop, Wilmington, NC 28405
      View Details
    • Contact for pricing
      4,650 SF

      New 7-Eleven in Wilmington, NC

      New construction 7-Eleven located in Wilmington's commercial corridor.
      4623 Market St, Wilmington, NC 28405
      View Details
    • Contact for pricing

      Market Street Automotive/Retail Opportunity

      6.01 acres with 12,000 SF multi-tenant buildings for sale.
      6000 Market St, Wilmington, NC 28405
      View Details
    • $3,600,000
      4,900 SF

      Prime Retail Location For Sale

      Retail property with high traffic and redevelopment potential.
      6747 Market St, Wilmington, NC 28405
      View Details
    • $299,000

      Office/Warehouse Condo For Sale

      Office/warehouse condominium in North Kerr Industrial Park.
      2936 Orville Wright Way, Wilmington, NC 28405
      View Details
    • $800,000
      8,212 SF

      Wilmington Commercial Space - Prime Location

      8,212 sq ft, 0.6-acre lot, $800,000
      2006/2010 Princess Place Dr, Wilmington, NC 28405
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,200 SF

      Retail Space on Military Cutoff

      Retail space available with high traffic and excellent access.
      1121 Military Cutoff Rd, Wilmington, NC 28405
      View Details
    • Contact for pricing
      2,400 SF

      Established Retail Destination For Rent

      Retail and dining destination in Wilmington's upscale retail environment.
      1125 Military Cutoff Rd, Wilmington, NC 28405
      View Details
    • Contact for pricing
      7,500 SF

      Retail Space in University Square

      Retail space available in established Wilmington shopping destination.
      806-839 S College Rd, Wilmington, NC 28405
      View Details
    • Contact for pricing

      Retail Space Near Costco, Academy

      Pad-ready junior box space in Wilmington's commercial district.
      0-0 Gingerwood Dr, Wilmington, NC 28405
      View Details
    • Contact for pricing
      1,200 SF

      Retail Spaces on Military Cutoff

      Two 1,200 SF retail spaces with excellent access.
      1113 Military Cutoff Rd, Wilmington, NC 28405
      View Details
    • Contact for pricing

      Mixed-Use Development with Retail Space

      Mixed-use development featuring retail, restaurants, and luxury residences.
      28405 Usa, Wilmington, NC 28405
      View Details
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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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