Showroom with Conditioned
For Sale
Contact for pricing
6737 Market Street, Wilmington, NC 28405
Vacant regional business property with extensive display space, warehouse support, and dock-high loading access.
Property Size24,000 SF
Lot Size1.90 Acres
Price / SF$143.75
Days on Market557
Property Features for 6737 Market Street
General Information
Standard status
Active
Size
24,000 SF
Lot size
1.90 Acres
Property subtype
Retail
Zoning
RB—Regional Business (City of Wilmington)
Additional Details
Traffic Count
53,098 vehicles/day
Building Details
Year Built
1900
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Cape Fear Commercial
(910) 344-1000
Listed By:
Paul Loukas · License #NC 201401
Source:
Crexi
Added: Feb 20, 2025
Changed: Aug 29
Last Checked: Aug 29 at 1:20PM
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
Investment Insights
Based on property information with market context.
This vacant showroom property includes approximately 24,000 square feet under roof on approximately 1.9 acres. The layout provides about 20,500 square feet of showroom area along with approximately 3,500 square feet of conditioned warehouse space. An 8 x 10 dock-high door supports receiving and distribution functions. The property was built in 1900 and carries RB—Regional Business zoning through the City of Wilmington.
Positioned on Market Street in Wilmington, the site is located between the Eastwood Road/MLK Boulevard intersection and the Military Cutoff Road overpass. Market Street traffic is reported at approximately 53,098 vehicles per day. The property is vacant and available for an on-site tour through the listing broker.
Positioned on Market Street in Wilmington, the site is located between the Eastwood Road/MLK Boulevard intersection and the Military Cutoff Road overpass. Market Street traffic is reported at approximately 53,098 vehicles per day. The property is vacant and available for an on-site tour through the listing broker.
Key Highlights
- Approximately 24,000 square feet of retail building area on approximately 1.9 acres
- Approximately 20,500 square feet of showroom space
- Approximately 3,500 square feet of conditioned warehouse space
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$236,894
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.87%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,737,880
$4.7M
Cap Rate 7%
$3,384,200
$3.4M
Cap Rate 9%
$2,632,156
$2.6M
Market Conditions
NOI Build-Up for 24,000 SF
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.
Gross rent
$377.3K $15.72/SF
− Vacancy
−$38.9K −$1.62/SF
EGI
$338.4K $14.10/SF
− OpEx
−$101.5K −$4.23/SF
NOI
$236.9K $9.87/SF
Area
Wilmington, NC
Vacancy
10.30%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,737,880
Cap Rate 7%
$3,384,200
Cap Rate 9%
$2,632,156
Alternative Uses
Best Use
Retail
$3.38M
$2.96M – $3.95M
NOI $236,894 @ 7.0% cap · market cap 6.87%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$293.87M
$257.13M – $342.84M
NOI $20,570,615 @ 7.0% cap · market cap 596.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
53,098 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
819
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28405, NC
31,775
Population
17,073
Households
1.9
Avg Household Size
41
Median Age
41%
College-Educated
91%
High-School Grad
23.5 sq mi
ZIP Area
1,352
Density / Sq Mi
$67,809
Median Household Income
$41,265
Median Earnings
$1,405
Median Rent
$337,000
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Showroom - Vacant regional business property with extensive display space, warehouse support, and dock-high loading access.
Where is this showroom located?
The property is located at 6737 Market Street Wilmington, NC.
What is the asking price?
The asking price for this property is $3,450,000.
What are key features of this property?
This property features: Approximately 24,000 square feet of retail building area on approximately 1.9 acres; Approximately 20,500 square feet of showroom space; Approximately 3,500 square feet of conditioned warehouse space
