Three-Unit Flex Industrial
102 Portwatch Way, Wilmington, NC 28412
For Sale
Contact for pricing
Three separate bays, a fenced outdoor area, and a neighboring vacant parcel provide a flexible property configuration.
Property Size10,068 SF
Lot Size1.84 Acres
Price / SF$261.22
Days on Market9
Property Features for 102 Portwatch Way
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Site & Location
Neighborhood
Fenced Yard
Outdoor Storage
Additional Details
Land Use
Property Use
Amenities
fenced side yard
roll-up bay doors
on-site parking
master stormwater system
Building Details
Year Built
Buildings
Building Size
Listing Agency:
BlueCoast Commercial, LLC
(910) 427-0000
Listed By:
Steve Hall · License #255181
(910) 279-3227
Source:
Moodyscre
Added: Oct 29
Changed: Nov 1
Last Checked: Nov 6 at 12:26PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BlueCoast Commercial, LLC
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Investment Insights
Based on property information with market context.
This Wilmington offering combines an improved 0.99-acre parcel with an adjacent 0.85-acre vacant parcel, for approximately 1.84 acres in total. The existing 10,068-square-foot flex and industrial building was constructed in 2001 and is divided into three units, each with a roll-up bay door. The improved parcel also includes a fenced side yard and on-site parking. Zoning is Heavy Industrial, and a master stormwater system is maintained by the Property Owners Association.
The property is in the Portwatch business corridor, near the Port of Wilmington, River Road, and industrial and maritime operations. Major transportation corridors are accessible from the area.
The property is in the Portwatch business corridor, near the Port of Wilmington, River Road, and industrial and maritime operations. Major transportation corridors are accessible from the area.
Key Highlights
- 10,068‑square‑foot flex/industrial building built in 2001
- Three units, each with a roll‑up bay door
- Two parcels total approximately 1.84 acres: 0.99‑acre improved site and adjacent 0.85‑acre vacant parcel
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$124,691
Cap Rate
4.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,493,820
$2.5M
Cap Rate 7%
$1,781,300
$1.8M
Cap Rate 9%
$1,385,456
$1.4M
Market Conditions
NOI Build-Up for 10,068 SF
Gross rent
$157.1K $15.60/SF
− Vacancy
−$10.4K −$1.03/SF
EGI
$146.7K $14.57/SF
− OpEx
−$22.0K −$2.19/SF
NOI
$124.7K $12.38/SF
Area
Wilmington, NC
Vacancy
6.60%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,493,820
Cap Rate 7%
$1,781,300
Cap Rate 9%
$1,385,456
Alternative Uses
Best Use
Warehouse
$1.78M
$1.56M – $2.08M
NOI $124,691 @ 7.0% cap · market cap 4.74%
Second Best
Industrial
$1.47M
$1.28M – $1.71M
NOI $102,686 @ 7.0% cap · market cap 3.90%
Theoretical Best
Multifamily LT 5
$123.28M
$107.87M – $143.82M
NOI $8,629,373 @ 7.0% cap · market cap 328.11%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
107
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28412, NC
42,758
Population
20,704
Households
2.1
Avg Household Size
43
Median Age
41%
College-Educated
93%
High-School Grad
22.3 sq mi
ZIP Area
1,917
Density / Sq Mi
$67,396
Median Household Income
$40,351
Median Earnings
$1,326
Median Rent
$342,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Flex space in Wilmington
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - Three separate bays, a fenced outdoor area, and a neighboring vacant parcel provide a flexible property configuration.
Where is this flex space located?
The property is located at 102 Portwatch Way Wilmington, NC.
What is the asking price?
The asking price for this property is $2,630,000.
What are key features of this property?
This property features: 10,068‑square‑foot flex/industrial building built in 2001; Three units, each with a roll‑up bay door; Two parcels total approximately 1.84 acres: 0.99‑acre improved site and adjacent 0.85‑acre vacant parcel
