Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    604-608 Shipyard Blvd Wilmington, NC 28412

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Large parcel ideal for retail or medical development.

    Lot size:
    2.42 Acres

    Property Features for 604-608 Shipyard Blvd

    General Information

    Lot size
    2.42 Acres

    We can help!

    Listing Contact
    Reid Dillon
    Reid Dillon
    Source: Moodyscre

    Listing Agent: Reid Dillon

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

    Learn more

    Overview

    Development Land in Wilmington, NC

    This large parcel of land is available for development in Wilmington, North Carolina. The site benefits from high traffic volume, with 17,000 vehicles per day on Shipyard Boulevard and 27,000 vehicles per day on Carolina Beach Road. It is ideally suited for multiple single-tenant or multi-tenant retail or medical users. The site has an access easement providing full access to Carolina Beach Road.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

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

    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
    -77.932509
    Latitude
    34.190884

    Nearby Similar for Sale

    • $1,465,000
      4,848 SF

      Wilmington Mixed-Use Investment Opportunity

      8-unit mixed-use property near historic district with strong rental history.
      719 Princess St, Wilmington, NC 28401
      View Details
    • $890,000
      5,467 SF

      Historic Mansion in Downtown Wilmington

      Unique historic mansion with development potential in Wilmington's Historic District.
      708 Market St, Wilmington, NC 28401
      View Details
    • $1,795,000
      4,761 SF

      Historic Downtown Wilmington Residence

      Historic 4,761 sq ft residence in downtown Wilmington.
      118 S 4Th St, Wilmington, NC 28401
      View Details
    • New
      $719,000
      2,015 SF

      Wilmington Income-Generating Multifamily Property

      Income property near Downtown, Burnt Mill Creek, and Soda Pop District.
      2020 Princess Place Dr, Wilmington, NC 28405
      View Details
    • New
      $888,000
      3,104 SF

      Wilmington Duplex: Short-Term Rental Income

      Fully furnished duplex in Wilmington, NC, generating substantial rental income.
      312 Church St, Wilmington, NC 28401
      View Details
    • $10,750,000
      41,315 SF

      Wilmington Multifamily Investment Opportunity

      54-unit Wilmington rental portfolio with income and value-add potential.
      145 Lullwater Dr, Wilmington, NC 28403
      View Details
    • New
      $539,900
      2,240 SF

      Historic Wilmington Duplex: Move-In Ready

      Charming, updated duplex in Wilmington's Historic District, ideal for investors.
      117 S 7Th St, Wilmington, NC 28401
      View Details
    • New
      $725,000
      3,096 SF

      Wilmington Duplex: Investment Opportunity

      Rare opportunity to own a cash-flowing duplex in Wilmington, NC.
      1308 Corbett St, Wilmington, NC 28401
      View Details
    • $5,799,900
      24,768 SF

      Wilmington Multifamily Investment Opportunity

      Portfolio of eight duplexes near downtown Wilmington.
      1405 Corbett St, Wilmington, NC 28401
      View Details
    • New
      $1,050,000
      3,548 SF

      Historic Wilmington Duplex Opportunity

      Historic duplex in Wilmington's Historic District, flexible living options.
      223 S 5Th Ave, Wilmington, NC 28401
      View Details
    • New
      $992,750
      3,396 SF

      Renovated Duplex in Historic Downtown

      Versatile duplex in Wilmington's Historic Downtown, suitable for residential or commercial.
      8 S 7Th St, Wilmington, NC 28401
      View Details
    • New
      $979,000
      3,579 SF

      Midtown Wilmington Mixed-Use Opportunity

      Commercial mixed-use property in Midtown Wilmington with flexible floor plan.
      5018 Oleander Dr, Wilmington, NC 28403
      View Details

    FAQs

    What type of property is this?
    Land - Large parcel ideal for retail or medical development.
    Where is this land located?
    The property is located at 604-608 Shipyard Blvd Wilmington, NC.
    What are key features of this property?
    This property features: - Large parcel ready for development; - High traffic volume: 17,000 VPD on Shipyard Blvd; - High traffic volume: 27,000 VPD on Carolina Beach Rd
    (704) 697-1900
    Request Owner's contact information
    604-608 Shipyard Blvd Wilmington, NC 28412
    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.
    604-608 Shipyard Blvd
    Wilmington, NC 28412
    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
    604-608 Shipyard Blvd Wilmington, NC 28412
    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!
    Listing Contact
    Reid Dillon
    Reid Dillon
    (704) 697-1900
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.