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    Riverfront Warehouse on Large Parcel Title is generated by Realmo AI

    1233 Castle Hayne Rd, Wilmington, NC

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    Warehouse on 28.24 acres near downtown Wilmington.

    Type:INDUSTRIAL
    Property size:
    12,500 SF
    Lot size:
    28.24 Acres
    Price / SF:
    $175/SF
    Added:
    Aug 29, 2024
    Days on Market:
    666
    Last Refresh:
    May 20 at 8:25 pm

    Property Features for 1233 Castle Hayne Rd

    General Information

    Standard status
    Active
    Size
    12,500 SF
    Lot size
    28.24 Acres
    Property subtype
    INDUSTRIAL

    We can help!

    Contact an agent
    Will Leonard, SIOR

    Listing office Cape Fear Commercial, LLC

    Listing date Aug 29, 2024

    Source Moodyscre

    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 Cape Fear Commercial, LLC

    HighLights

    • ± 28.24 acre riverfront parcel
    • ± 12,500 SF of warehouse space
    • Multiple outdoor, open‑air storage buildings
    • Approximately 12.5 “usable” acres
    • Convenient location in proximity to MLK, Jr. Parkway
    • Convenient location in proximity to downtown Wilmington

    Overview

    This property features approximately 12,500 square feet of warehouse space situated on a 28.24-acre riverfront parcel. In addition to the warehouse, the site includes multiple outdoor, open-air storage buildings. The property offers approximately 12.5 usable acres. It is located in proximity to MLK, Jr. Parkway and downtown Wilmington.

    Local Financial Insights For Warehouse

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $195.0k $15.60
    − Vacancy −$12.9k −$1.03
    EGI $182.1k $14.57
    − OpEx −$27.3k −$2.19
    NOI $154.8k $12.38
    12,500 SF · lease $15.60/SF/yr · vacancy 6.60% · expense 15.00%

    Alternative Uses

    Best Use
    Warehouse
    $2.21M
    $1.94M – $2.58M (±1% cap)
    NOI $154,811 @ 7.0% cap · market cap 7.05%
    Second Best
    Industrial
    $1.82M
    $1.59M – $2.12M (±1% cap)
    NOI $127,491 @ 7.0% cap · market cap 5.81%
    Theoretical Best
    Multifamily LT 5
    $153.06M
    $133.92M – $178.56M (±1% cap)
    NOI $10,713,862 @ 7.0% cap · market cap 488.10%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Spa & Massage Center Building Supply Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Gym & Fitness Center Pharmacy Auto Parts Store

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

    Similar Places Nearby

    • Smith Creek Boatyard — 805 Cornelius Harnett Dr, Wilmington, NC 28401
    • JMT Services, LLC — 1536-25 Castle Hayne Rd, Wilmington, NC 28401
    • U-Pack — 1536 Castle Hayne Rd, Wilmington, NC 28401
    • Southern Moving & Storage — 1536 Castle Hayne Rd, Wilmington, NC 28401

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.9369
    Latitude
    34.2612

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    FAQs

    What type of property is this?
    Warehouse - Warehouse on 28.24 acres near downtown Wilmington.
    Where is this warehouse located?
    The property is located at 1233 Castle Hayne Rd Wilmington, NC.
    What is the asking price?
    The asking price for this property is $2,195,000.
    What are key features of this property?
    This property features: ± 28.24 acre riverfront parcel; ± 12,500 SF of warehouse space; Multiple outdoor, open‑air storage buildings
    (910) 233-5351 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Will Leonard, SIOR
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