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    2826 Us Highway 421 Wilmington, NC 28401

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    15.35 acre industrial land with river frontage in Wilmington.

    Lot size:
    15.35 Acres

    Property Features for 2826 Us Highway 421

    General Information

    Lot size
    15.35 Acres

    We can help!

    Listing Contact
    Cody Cress
    Cody Cress
    Source: Moodyscre

    Listing Agency: Sun Coast Partners Commercial Listing Agent: Cody Cress

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

    Learn more

    Overview

    Wilmington Industrial Land by River

    This industrial land is available for sale and consists of approximately 15.35 gross acres at 2826 Highway 421, Wilmington, North Carolina. The industrial-zoned property features over 1,475 linear feet of water frontage along the Cape Fear River and is estimated to provide approximately 6.75 useable acres after factoring in potential wetland and flood hazard areas. Located within The Yard, an expansive industrial park in Wilmington’s Hwy 421 industrial corridor, it offers convenient access to the NC State Port, Wilmington International Airport, and Downtown Wilmington. The Yard is positioned along Highway 421, one mile south of I-140, providing interconnectivity to I-40, HWY's 74/76 & Hwy 17. The road network allows efficient access to Raleigh, Charlotte, Jacksonville, and Myrtle Beach, with an approximate one-hour drive time to I-95. Portions of The Yard are served on-site by dedicated CSX rail spurs and direct deep-water access to the Cape Fear River, along with two driveways on Hwy 421. The parcel is currently unimproved and subject to utility and access easements as part of The Yard's restrictions and covenants. The site falls under New Hanover County I-2 (Heavy Industrial) zoning district. Wilmington offers a skilled workforce and training programs through the University of North Carolina at Wilmington and Cape Fear and Brunswick Community Colleges. This opportunity is suitable for new business, relocation, or expansion.
    Location Intelligence

    Current Use by Public Records

    Industrial land

    Suggested Use

    Restaurant Law Firm Big Box & Wholesale Store Food Market Accounting Firm Department Store Car Rental Facility Kitchen & Bath Showroom Auto Parts Store 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
    -77.959517
    Latitude
    34.279578

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    FAQs

    What type of property is this?
    Industrial land - 15.35 acre industrial land with river frontage in Wilmington.
    Where is this industrial land located?
    The property is located at 2826 Us Highway 421 Wilmington, NC.
    What are key features of this property?
    This property features: - Prime industrial land with +/- 1,475 linear feet of water frontage on the Cape Fear River.; - Located in The Yard, a booming industrial park in Wilmington's Hwy 421 corridor, with convenient access to the NC State Port, Wilmington International Airport, and Downtown Wilmington.; - Excellent connectivity via Hwy 421, I-140, I-40, HWY's 74/76 & Hwy 17, providing efficient access to major cities and I-95.
    (910) 409-8421 Call to check price and availability
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    2826 Us Highway 421 Wilmington, NC 28401
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    Wilmington, NC 28401
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    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
    2826 Us Highway 421 Wilmington, NC 28401
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    Contact for Pricing
    Please call us for current price
    and status of this listing Cody Cress
    Cody Cress
    (910) 409-8421 (910) 350-1200
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