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    2421 Playa Way Wilmington, NC

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    For Lease
    $30 SF/Yr ($12,500 /Mo)

    First generation retail/office space with built-in customer base.

    Property size:
    5,000 SF
    Lot size:
    2.05 Acres

    Property Features for 2421 Playa Way

    General Information

    Size
    5,000 SF
    Lot size
    2.05 Acres

    Source: Eastern Carolinas Commercial Real Estate Agent David Branton

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Wilmington Retail/Office Space Available

    Available for lease is a first-generation retail or office space in Wilmington, situated at the corner of North Kerr and Franklin Avenues. The space, currently in shell condition, awaits tenant upfit. It is part of a development encompassing over 9 acres and includes 445 bedroom units, providing a built-in customer base. The location benefits from its proximity to numerous single and multifamily properties, enhancing its appeal to pedestrian traffic. The area has a substantial residential population, with over 53,000 residents within a 3-mile radius. Traffic volume is significant, with over 23,000 cars passing the location daily. The available space ranges from 1,500 to 5,000 square feet, and various sizing options are possible before demising wall installation. The lease rate is $30.00 per square foot, with tenant upfit options available.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    Wilmington
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.971741
    Latitude
    34.264595

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    FAQs

    What type of property is this?
    Retail space - First generation retail/office space with built-in customer base.
    Where is this retail space located?
    The property is located at 2421 Playa Way Wilmington, NC.
    What is the lease rate?
    The lease rate is $30 SF/Yr.
    What are key features of this property?
    This property features: - High Traffic Location: 23,000 cars per day pass the location.; - Large Built-in Customer Base: 445 residential units within the development.; - High Population Density: 53,000+ residents within a 3-mile radius.
    (704) 740-8184
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    Realmo Value Estimation

    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.

    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.

    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
    2421 Playa Way Wilmington, NC
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