Add Listing
    For Lease
    • 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

    115 North 3Rd St Wilmington, NC 28401

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Class-A office building with parking in downtown Wilmington, NC.

    Property size:
    15,822 SF
    Lot size:
    0.66 Acres

    Property Features for 115 North 3Rd St

    General Information

    Size
    15,822 SF
    Lot size
    0.66 Acres

    We can help!

    Listing Contact
    Julia Eckel
    Julia Eckel
    Source: Moodyscre

    Listing Agency: Cape Fear Commercial, LLC Listing Agent: Julia Eckel

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

    Learn more

    Property Insight Report

    Overview

    Downtown Wilmington Class-A Office Space

    This Class-A office building, offering approximately 50,765 square feet, is available for lease in downtown Wilmington, NC. Located at the corner of N 3rd Street and Chestnut Street, the property benefits from high visibility and accessibility. The building is being leased with an adjacent surface parking lot, providing convenient parking. Situated in the heart of downtown Wilmington, 115 N Third Street is within walking distance of downtown restaurants, retailers, service providers, and several new mixed-use and residential projects. Please refer to the marketing brochure for availability information.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Brooks Pierce Law Firm Deltacom Telecommunications Service Nationwide Insurance: McGriff ... Insurance Agency Homes For Sale Wilmington Real Estate Agency RE/MAX Executive Real Estate Agency

    Suggested Use

    Real Estate Agency Restaurant Dental Office Spa & Massage Center Law Firm Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    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
    -77.9466292
    Latitude
    34.2375578

    Nearby Similar for Lease

    • $495 /Mo
      200 SF

      Downtown Wilmington Flexible Executive Office

      Move-in-ready commercial space in Wilmington's Historic Downtown District.
      404 N 3Rd St, Wilmington, NC 28401
      View Details
    • New
      $800 /Mo
      150 SF

      Private Office Space Available

      Single-room office in Wilmington, NC, ideal for small business professionals.
      1901 Kent St, Wilmington, NC 28403
      View Details
    • $3,000 /Mo
      1,500 SF

      Functional Commercial Property Near Downtown

      Versatile commercial space with office, warehouse, carport, and laydown yard.
      1508 Marstellar St, Wilmington, NC 28401
      View Details
    • $1,600 /Mo
      750 SF

      Historic Cottage Office Space Available

      Renovated office space in historic cottage, utilities included.
      516 Princess St, Wilmington, NC 28401
      View Details
    • $860 /Mo
      150 SF

      Wilmington Executive Office Suite

      Private office in professional building with all-inclusive pricing.
      4312 Henson Dr, Wilmington, NC 28405
      View Details
    • $850 /Mo
      160 SF

      Unique Cargo District Workspace

      Shipping container workspace in Wilmington's vibrant Cargo District.
      708 S 17Th St, Wilmington, NC 28401
      View Details
    • $16,500 /Mo
      10,000 SF

      Wilmington Commercial Space For Lease

      Two-story building in the heart of Wilmington available for lease.
      2451 College Rd, Wilmington, NC 28412
      View Details
    • $1,400 /Mo
      350 SF

      Unique Studio Space in Wilmington

      One-of-a-kind studio in Cargo District with natural light.
      707 S 16Th St, Wilmington, NC 28401
      View Details
    • $2,350 /Mo
      1,036 SF

      Downtown Wilmington Executive Office Suite

      Furnished office space in the heart of downtown Wilmington.
      404 N 3Rd St, Wilmington, NC 28401
      View Details
    • $1,400 /Mo
      760 SF

      Wilmington Flex Space Available Now

      Small office/flex space in central location, ready for immediate occupancy.
      102 Old Eastwood Rd, Wilmington, NC 28403
      View Details
    • $153,672
      6,403 SF

      Porters Neck Commercial Space Available

      6,400+ SF commercial space in rapidly growing Porters Neck.
      155 Porters Neck Rd, Wilmington, NC 28411
      View Details
    • $3,500 /Mo
      1,824 SF

      Wilmington Commercial Space For Rent

      Vibrant commercial space in Wilmington's SoFro District, great visibility.
      1506 S 3Rd St, Wilmington, NC 28401
      View Details

    FAQs

    What type of property is this?
    Office building - Class-A office building with parking in downtown Wilmington, NC.
    Where is this office building located?
    The property is located at 115 North 3Rd St Wilmington, NC.
    What are key features of this property?
    This property features: - Class-A office building with ± 50,765 SF of space.; - Prime downtown Wilmington location at the corner of N 3rd Street and Chestnut Street.; - Adjacent surface parking lot included in the lease.
    (910) 899-6660 Call to check price and availability
    Request Owner's contact information
    115 North 3Rd St Wilmington, NC 28401
    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.
    115 North 3Rd St
    Wilmington, NC 28401
    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
    115 North 3Rd St Wilmington, NC 28401
    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!
    Contact for Pricing
    Please call us for current price
    and status of this listing Julia Eckel
    Julia Eckel
    (910) 899-6660 (910) 344-1000
    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!