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    1901 Kent St Unit, Unit 2ND Wilmington, NC 28403

    View on Map
    Sponsored
    For Lease
    $1,500 /Mo ($21 SF/Yr)

    COMMERCIAL - Wilmington, NC

    Property size:
    841 SF
    Lot size:
    0.97 Acres
    Days on Market:
    9
    Last Refresh:
    Mar 20 at 8:06 pm

    Property Features for 1901 Kent St Unit

    General Information

    Special listing conditions
    Standard
    Property type
    Commercial Lease
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Zoning
    CS
    APN
    R05411-003-002-000
    Parking
    20
    Parking features
    Off Street
    Size
    841 SF
    Lot size
    0.97 Acres

    Taxes and HOA fees

    Expense value
    1500
    Expense
    SecurityDeposit
    Expense freq.
    One Time

    Utilities

    Heating system
    Electric (Heating)

    Building Details

    Year built
    1960

    We can help!

    Listing Contact
    Christian A Cardamone
    Christian A Cardamone

    Aloha Wilmington Real Estate

    Listing agent Christian A Cardamone License #238762

    Listing date Mar 12, 2026

    MLS# 100559761

    Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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    Property Insight Report

    Overview

    Office Suite in Cargo District

    Located on the second floor of 1901 Kent Street, this executive suite features an entrance hallway, three offices with natural light, and a fourth room suitable for an additional office or storage. The property is situated in the Cargo District/Forest Hills area, offering walkable access to dining options such as The Mess Hall and Bahn Sai. It also provides convenient access to Historic Downtown and the beaches. Onsite parking is available. The property is suitable for attorneys, brokers, loan officers, creatives, and tech professionals. The lease is full-service, covering all costs with no additional charges. The property size is 841 square feet and the lot size is 0.97 acres. Flexible lease terms are available. The zoning is CS.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Map

    City
    Wilmington
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.92138
    Latitude
    34.228043

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    FAQs

    What type of property is this?
    Office units - Executive suite in Wilmington's Cargo District, walkable to amenities.
    Where is this office units located?
    The property is located at 1901 Kent St Unit, Unit 2ND Wilmington, NC.
    What is the lease rate?
    The lease rate is $21 SF/Yr.
    What are key features of this property?
    This property features: - Full-service lease: Rent covers all expenses, eliminating hidden costs.; - Prime location in the Cargo District/Forest Hills: Enjoy walkable lunch options and quick access to Historic Downtown and beaches.; - Spacious layout featuring three light-filled offices and an additional room for storage or office use.
    (910) 262-3399
    Request Owner's contact information
    1901 Kent St Unit, Unit 2ND Wilmington, NC 28403
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    Wilmington, NC 28403
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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
    1901 Kent St Unit, Unit 2ND Wilmington, NC 28403
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    Listing Contact
    Christian A Cardamone
    Christian A Cardamone
    Real Estate License ID: 238762
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