Neighbourhood micro-renewal (NMIR) plays a critical role in the renewal landscape of urban China. However, an oversight in post-occupancy evaluation (POE) impedes the comprehensive understanding of NMIR’s impact and post-implementation efficacy. This research addresses this gap by leveraging the lens of place value to examine NMIR’s outcomes. Using Wuhan, China, as a case study, 10 Delphi consultations and 28 interviews were conducted among five stakeholder groups: local government, planning professionals, academics, community workers, and residents. Analytic Hierarchy Process (AHP) and Fuzzy Comprehensive Evaluation (FCE) were combined to identify and rank potential indicators. A total of 6 primary and 22 secondary indicators were identified. The indicators were derived from four key policy areas—health, society, economy, and environment—highlighting the relationship among NMIR initiatives, their contribution to place quality, and alignment with policy goals. AHP and FCE results reveal substantial enhancements in environmental quality, residential properties, and public infrastructure. Nevertheless, the analysis exposes varied satisfaction levels and divergences in the perceived relevance of indicators among the government, professionals, and the residents, particularly concerning social cohesion. These disparities underscore the layered impacts of NMIR. This research recommends integrating resident feedback with expert insights to enhance place quality in NMIR projects by balancing physical upgrades with social considerations. It also advocates for a continuous, adaptable post-occupancy evaluation system to monitor and support place value over time. This system should be flexible and context-specific, allowing NMIR initiatives to adapt to diverse urban settings globally, thus supporting long-term sustainability and thriving urban communities.