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    1729 New Hanover Medical Park Dr Wilmington, NC 28403

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    For Sale
    $7,200,000

    Immaculate medical office building near Novant Health New Hanover Hospital.

    Property size:
    23,082 SF
    Lot size:
    2.28 Acres

    Property Features for 1729 New Hanover Medical Park Dr

    General Information

    Size
    23,082 SF
    Lot size
    2.28 Acres

    Source: Maus, Warwick, Matthews & Co. Agent Jason Windham

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

    Overview

    Move-in Ready Medical Office Building

    This move-in ready medical office building is situated on approximately 2.3 acres. The building has approximately 23,082 square feet of space. The property is located just off 17th Street, less than half a mile from Novant Health New Hanover Regional Medical Center Hospital. The property is zoned O&I-1, allowing for a variety of medical and office uses. The building features a brick facade and a standing-seam metal roof. A comprehensive renovation was completed in 2018. The first floor, spanning over 16,000 square feet, includes 20 wet exam rooms, administrative offices, procedure rooms, and a covered drop-off and pick-up area. The second floor, with over 6,700 square feet, is designed with private offices, open work areas, and additional exam rooms. The seller is offering a 2-year leaseback upon closing, providing a steady revenue source with a strong credit-worthy tenant. This arrangement offers financial security and the ability to owner-occupy in the future.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dr. Richard D. ... Ophthalmologist Wilmington Eye Ophthalmology Clinic The LASIK Center at Wilmington ... Lasik Surgeon Matej Polomsky, MD Ophthalmologist Christopher Covington, DO Ophthalmologist

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

    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
    -77.9225827
    Latitude
    34.2124848

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    FAQs

    What type of property is this?
    Medical office - Immaculate medical office building near Novant Health New Hanover Hospital.
    Where is this medical office located?
    The property is located at 1729 New Hanover Medical Park Dr Wilmington, NC.
    What is the asking price?
    The asking price for this property is $7,200,000.
    What are key features of this property?
    This property features: - Two-year leaseback by a strong credit-worthy tenant guarantees immediate and steady revenue stream.; - Prime location less than half a mile from Novant Health New Hanover Regional Medical Center Hospital ensures easy accessibility.; - Comprehensive renovation in 2018 provides modern facilities.
    (910) 367-1877
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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
    1729 New Hanover Medical Park Dr Wilmington, NC 28403
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