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    302 S College Rd Wilmington, NC 28403

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    For Sale
    $5,500,000

    7,763 sqft retail property on 1.26 acre lot.

    Property size:
    7,763 SF
    Lot size:
    1.03 Acres

    Property Features for 302 S College Rd

    General Information

    Size
    7,763 SF
    Lot size
    1.03 Acres

    Source: Vanderbilt Realty Agent Lyle Alper

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

    Overview

    Retail Property on College Road

    This retail property features a 7,763-square-foot building situated on a 1.26-acre lot. The property generates a net operating income of $274,256 with a cap rate of 5%. The sale price is contingent upon the new owner assuming an existing $1.8 million mortgage. The property is located on S College Rd in Wilmington, NC.
    Insight Report Location Intelligence

    Current Use by Public Records

    Outback Steakhouse Steak House

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage 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
    -77.8726882
    Latitude
    34.2381239

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    FAQs

    What type of property is this?
    Retail space - 7,763 sqft retail property on 1.26 acre lot.
    Where is this retail space located?
    The property is located at 302 S College Rd Wilmington, NC.
    What is the asking price?
    The asking price for this property is $5,500,000.
    What are key features of this property?
    This property features: - Sizeable 7,763 sq.ft property on a 1.26-acre lot.; - Net Operating Income (NOI) of $274,256.; - Attractive 5% Cap Rate.
    (516) 507-7494
    Request Owner's contact information
    302 S College Rd Wilmington, NC 28403
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    Wilmington, NC 28403
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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
    302 S College Rd Wilmington, NC 28403
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