Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    6148 Myrtle Grove Rd Wilmington, NC 28409

    View on Map
    Sponsored
    For Sale
    Pending
    $2,000,000

    LAND - Wilmington, NC

    Lot size:
    20.46 Acres
    Days on Market:
    3
    Last Refresh:
    Mar 11 at 4:06 am

    Property Features for 6148 Myrtle Grove Rd

    General Information

    Special listing conditions
    Standard
    Property type
    Land
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Pending
    Zoning
    R-15
    APN
    R07900-003-045-000
    Lot size
    20.46 Acres

    We can help!

    Listing Contact
    Pam C Peterson

    Berkshire Hathaway HomeServices Carolina Premier Properties (800) 235-9068

    Listing agent Pam C Peterson (910) 458-3739 License #189781

    Listing date Mar 8, 2026

    MLS# 100471777

    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.

    Learn more

    Property Insight Report

    Overview

    Wilmington Land Opportunity

    This property presents an exceptional opportunity to own approximately 20 acres in the Myrtle Grove area. The land is zoned R-15 and is situated between Grove Point and Sentry Oaks. Located in Wilmington, North Carolina, the property offers various possibilities for development.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Law Firm Spa & Massage Center Building Supply Auto Repair Shop Gym & Fitness Center Big Box & Wholesale Store Skin Care Clinic Accounting Firm Kitchen & Bath Showroom

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.881801
    Latitude
    34.12074

    Nearby Similar for Sale

    • $1,695,000
      2,005 SF

      Brooklyn Arts District Commercial Opportunity

      Thriving business and prime real estate in Wilmington's Arts District.
      1007 N 4Th St, Wilmington, NC 28401
      View Details
    • New
      $299,000
      800 SF

      Wilmington Flex Space Condo

      Renovated commercial condo with office, garage, and storage.
      6413 Carolina Beach Rd, Wilmington, NC 28412
      View Details
    • $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
    • $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
    • $415,000
      1,158 SF

      Wilmington Commercial Property For Sale

      Commercial property in Wilmington, NC, suitable for professional or medical office.
      3142 Wrightsville Ave, Wilmington, NC 28403
      View Details
    • $890,000
      5,467 SF

      Historic Mansion in Downtown Wilmington

      Unique historic mansion in Wilmington's Historic District, close to downtown.
      708 Market St, Wilmington, NC 28401
      View Details
    • $979,000
      3,579 SF

      Midtown Wilmington Mixed-Use Opportunity

      Commercial mixed-use property with storefront, studio, and apartment.
      5018 Oleander Dr, Wilmington, NC 28403
      View Details
    • $979,000
      3,579 SF

      Midtown Wilmington Mixed-Use Opportunity

      Commercial mixed-use property in Midtown Wilmington with flexible floor plan.
      5018 Oleander Dr, Wilmington, NC 28403
      View Details
    • New
      $895,000
      3,396 SF

      Renovated Duplex in Historic Downtown

      Renovated duplex zoned for residential and commercial use.
      8 S 7Th St, Wilmington, NC 28401
      View Details
    • $719,000
      2,015 SF

      Wilmington Income-Generating Multifamily Property

      Three-unit property near Downtown Wilmington, suitable for various rental strategies.
      2020 Princess Place Dr, Wilmington, NC 28405
      View Details
    • New
      $770,000
      2,561 SF

      Historic Downtown Wilmington Furnished Duplex

      Historic, furnished duplex in downtown Wilmington, ready for rental income.
      419 S Front St, Wilmington, NC 28401
      View Details
    • New
      $409,000
      1,372 SF

      Historic Downtown Wilmington Duplex

      Duplex in Historic Downtown Wilmington with seller financing.
      107 S 10Th St, Wilmington, NC 28401
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 20 +/- acres in Myrtle Grove area, Wilmington, NC.
    Where is this residential land & home lot located?
    The property is located at 6148 Myrtle Grove Rd Wilmington, NC.
    What is the asking price?
    The asking price for this property is $2,000,000.
    (910) 443-8398
    Request Owner's contact information
    6148 Myrtle Grove Rd Wilmington, NC 28409
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    6148 Myrtle Grove Rd
    Wilmington, NC 28409
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    6148 Myrtle Grove Rd Wilmington, NC 28409
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Pam C Peterson
    Real Estate License ID: 189781
    (910) 443-8398 (910) 458-3739
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!