Two-Building Mixed-Use
1405 S 5th Avenue, Wilmington, NC 28401
For Sale
$985,000
Commercial Sale, Wilmington, NC
Property Size7,015 SF
Lot Size0.34 Acres
Price / SF$140.41
Days on Market143
Property Features for 1405 S 5th Avenue
General Information
Property type
Property subtype
Zoning
Parking features
Subdivision
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Standard status
APN
Size
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Additional Details
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Taxes and HOA fees
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Building Details
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Number of units
Flooring type
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Roof type
Buildings
Listing Agency:
RE/MAX Executive
(910) 218-2000
Listed By:
Allison Justice · License NC #348022
(910) 540-1856
Added: Jun 23
Changed: Oct 30
Last Checked: Nov 12 at 8:06AM
MLS# 100578856
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This mixed-use property comprises two connected buildings totaling 7,015 square feet on approximately 0.3419 acres. The layout incorporates warehouse, office, storage, and residential areas, providing a range of existing configurations within the combined footprint. Construction dates are 1948 and 1991, with block, steel-frame, and wood-frame elements and concrete flooring. Building systems include natural-gas forced-air heat, central air conditioning, and public water service.
Located at 1405 S 5th Avenue in Wilmington, the property is within the UMX zoning district. That designation permits a variety of commercial and residential uses, supporting consideration of mixed-use occupancy or redevelopment. Site features include paved, off-street parking, while the roofs include shingle, membrane, and metal sections.
Located at 1405 S 5th Avenue in Wilmington, the property is within the UMX zoning district. That designation permits a variety of commercial and residential uses, supporting consideration of mixed-use occupancy or redevelopment. Site features include paved, off-street parking, while the roofs include shingle, membrane, and metal sections.
Key Highlights
- 7,015 square feet across two connected buildings
- Approximately 0.3419 acres
- UMX zoning allows a variety of commercial and residential uses
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$89,429
Cap Rate
9.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,788,580
$1.8M
Cap Rate 7%
$1,277,557
$1.3M
Cap Rate 9%
$993,656
$993.7K
Market Conditions
NOI Build-Up for 7,015 SF
Gross rent
$145.6K $20.75/SF
− Vacancy
−$2.5K −$0.35/SF
EGI
$143.1K $20.40/SF
− OpEx
−$53.7K −$7.65/SF
NOI
$89.4K $12.75/SF
Area
New Hanover County, NC
Vacancy
1.70%
Lease Rate
$20.75 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,788,580
Cap Rate 7%
$1,277,557
Cap Rate 9%
$993,656
Alternative Uses
Best Use
Mixed Use
$1.28M
$1.12M – $1.49M
NOI $89,429 @ 7.0% cap · market cap 9.08%
Second Best
Warehouse
$1.24M
$1.09M – $1.45M
NOI $86,880 @ 7.0% cap · market cap 8.82%
Theoretical Best
Office A
$1.76M
$1.54M – $2.05M
NOI $122,886 @ 7.0% cap · market cap 12.48%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
408
Businesses Nearby
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Business Placement
Demographics for 28401, NC
22,204
Population
13,017
Households
1.7
Avg Household Size
41
Median Age
34%
College-Educated
88%
High-School Grad
31.0 sq mi
ZIP Area
716
Density / Sq Mi
$52,159
Median Household Income
$35,739
Median Earnings
$1,183
Median Rent
$263,000
Median Home Value
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - UMX zoning supports a combination of commercial and residential uses across connected structures.
Where is this mixed-use property located?
The property is located at 1405 S 5th Avenue Wilmington, NC.
What is the asking price?
The asking price for this property is $985,000.
What are key features of this property?
This property features: 7,015 square feet across two connected buildings; Approximately 0.3419 acres; UMX zoning allows a variety of commercial and residential uses
