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Wilmington Medical Office For Sale

1202 Medical Center Dr, Wilmington, NC

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For Sale

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Medical office building in Wilmington's established medical district.

Type:OFFICE

Property size:

66,164 SF

Lot size:

6.62 Acres

Price / SF:

$179/SF

Contact for Pricing

Please call us for current price
and status of this listing

Steve Hall

Real Estate License ID: 255181

HighLights

Sale‑leaseback opportunity with Wilmington Health, providing stabilized cash flow.
Located in Wilmington's premier healthcare corridor, adjacent to Novant Health New Hanover Regional Medical Center.
±66,164 RSF medical office building with potential for additional medical tenancy upside.
Robust power infrastructure and medical‑ready buildout.
Ample on‑site parking for staff and patients.
Located in a fast‑growing coastal region.

For Sale

Contact for pricing

Medical office building in Wilmington's established medical district.

Type:OFFICE

Property size:

66,164 SF

Lot size:

6.62 Acres

Price / SF:

$179/SF

Added:: Aug 5, 2025
Days on Market:: 311
Last Refresh:: May 20 at 8:27 pm

Property Features for 1202 Medical Center Dr

General Information

Standard status: Active
Size: 66,164 SF
Lot size: 6.62 Acres
Property subtype: OFFICE

We can help!

Listing Contact

Steve Hall

Listing agent Steve Hall License #255181

Listing office BlueCoast Commercial, LLC

Listing date Aug 5, 2025

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 BlueCoast Commercial, LLC

HighLights

Sale‑leaseback opportunity with Wilmington Health, providing stabilized cash flow.
Located in Wilmington's premier healthcare corridor, adjacent to Novant Health New Hanover Regional Medical Center.
±66,164 RSF medical office building with potential for additional medical tenancy upside.
Robust power infrastructure and medical‑ready buildout.
Ample on‑site parking for staff and patients.
Located in a fast‑growing coastal region.

Overview

Located at 1202 Medical Center Drive in Wilmington, North Carolina, this medical office building offers an opportunity to acquire a property in an established medical district. The building has a total size of approximately 66,164 square feet across three floors. The property is located in Wilmington’s premier healthcare corridor, adjacent to Novant Health New Hanover Regional Medical Center. It features ample on-site parking for staff and patients, as well as robust power and a medical-ready buildout. The location provides access via 17th Street, Independence Blvd, and Carolina Beach Road, and is situated minutes from Wrightsville Beach, Landfall Submarket, and multiple commercial development zones. The property is located in a high-growth population corridor, with increasing demand for healthcare services. The current tenant, Wilmington Health, will complete a sale-leaseback on the building as they transition select services. The remaining space offers potential for additional medical tenancy. The lease structure is triple net.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$1.38M	$20.88
− Vacancy	−$261.1k	−$3.95
EGI	$1.12M	$16.93
− OpEx	−$280.1k	−$4.23
NOI	$840.3k	$12.70

66,164 SF · lease $20.88/SF/yr · vacancy 18.90% · expense 25.00%

Alternative Uses

Best Use

Office B

$12.00M

$10.50M – $14.01M (±1% cap)

NOI $840,300 @ 7.0% cap · market cap 7.09%

Second Best

Healthcare Medical

$8.00M

$7.00M – $9.33M (±1% cap)

NOI $559,781 @ 7.0% cap · market cap 4.72%

Theoretical Best

Multifamily LT 5

$810.14M

$708.87M – $945.16M (±1% cap)

NOI $56,709,758 @ 7.0% cap · market cap 478.56%

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

Property Profile Location Intelligence

Current Use by Public Records

Zulie appt Hospital Robert Grove II, ... Medical Clinic Rachel Berg, PT Physician Jackson Burket Jessica ... Physician PMG Research of Wilmington Research Foundation

Suggested Use

Location Insight

Map
Local Demand

City: Wilmington
County: New Hanover
State: North Carolina
Longitude: -77.9293
Latitude: 34.2021

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For sale
Medical Office Space
NC
Wilmington
1202 Medical Center Dr

What type of property is this?

Medical Office Space - Medical office building in Wilmington's established medical district.

Where is this medical office space located?

The property is located at 1202 Medical Center Dr Wilmington, NC.

What is the asking price?

The asking price for this property is $11,850,000.

What are key features of this property?

This property features: Sale‑leaseback opportunity with Wilmington Health, providing stabilized cash flow.; Located in Wilmington's premier healthcare corridor, adjacent to Novant Health New Hanover Regional Medical Center.; **±66,164 RSF medical office building** with potential for additional medical tenancy upside.