Multi-Building Warehouse
1405 S 5th Ave, Wilmington, NC 28401
For Sale
$985,000
Multi-building warehouse site on a 16,379 SF lot, including a main warehouse and additional second-level space.
Property Size7,015 SF
Lot Size0.38 Acres
Price / SF$140.41
Days on Market210
Property Features for 1405 S 5th Ave
General Information
Standard status
Size
Lot size
Zoning
Site & Location
Neighborhood
Additional Details
Opportunity Zone
Building Details
Year Built
Listing Agency:
RE/MAX Executive
Listed By:
Allison Justice · License #348022
(910) 540-1856
Source:
Bradberrygarnerrealestate
Added: Apr 12
Changed: Oct 25
Last Checked: Oct 7 at 5:23PM
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 RE/MAX Executive
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The property consists of multiple structures totaling 7,015 square feet of usable warehouse space. The building breakout includes a 4,776 SF main warehouse, 1,818 SF second-level warehouse space, and a 441 SF separate additional structure. The seller represents that existing autos, equipment, debris, and business property will be removed prior to transfer.
The site is located in an Urban Mixed Use zoned area along S 5th Avenue and is within an Opportunity Zone. Public remarks note the property is within a block of the South Front area.
According to the provided zoning comments, the Urban Mixed Use (UMX) zoning enables the owner to go up 45 feet high by right, with potential up to 75 feet. The existing structures are described as usable, and the site is presented as lending itself to redevelopment.
The site is located in an Urban Mixed Use zoned area along S 5th Avenue and is within an Opportunity Zone. Public remarks note the property is within a block of the South Front area.
According to the provided zoning comments, the Urban Mixed Use (UMX) zoning enables the owner to go up 45 feet high by right, with potential up to 75 feet. The existing structures are described as usable, and the site is presented as lending itself to redevelopment.
Key Highlights
- Multi‑building warehouse site on a 16,379 SF lot in an Urban Mixed Use (UMX) zoned area on S 5th Avenue
- Total usable space of 7,015 SF, including 4,776 SF main warehouse and 1,818 SF second‑level warehouse
- Additional separate structure totaling 441 SF included in the site
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$86,880
Cap Rate
8.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,737,600
$1.7M
Cap Rate 7%
$1,241,143
$1.2M
Cap Rate 9%
$965,333
$965.3K
Market Conditions
NOI Build-Up for 7,015 SF
Gross rent
$109.4K $15.60/SF
− Vacancy
−$7.2K −$1.03/SF
EGI
$102.2K $14.57/SF
− OpEx
−$15.3K −$2.19/SF
NOI
$86.9K $12.38/SF
Area
Wilmington, NC
Vacancy
6.60%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,737,600
Cap Rate 7%
$1,241,143
Cap Rate 9%
$965,333
Alternative Uses
Best Use
Warehouse
$1.24M
$1.09M – $1.45M
NOI $86,880 @ 7.0% cap · market cap 8.82%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$85.89M
$75.16M – $100.21M
NOI $6,012,619 @ 7.0% cap · market cap 610.42%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
408
Businesses Nearby
Well-served
Demand for This Use
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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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Warehouses in Wilmington
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
- Vopak Terminal — 1710 Woodbine St, Wilmington, NC 28401
- Scoular — 1870 Burnett Blvd, Wilmington, NC 28401
- City Storage South — 1525 S Front St, Wilmington, NC 28401
- Atlantic Moving Systems — 1400 S 5th Ave, Wilmington, NC 28401
- Murray Transfer And Storage — 1400 S 5th Ave, Wilmington, NC 28401
Frequently Asked Questions
What type of property is this?
Warehouse - Multi-building warehouse site on a 16,379 SF lot, including a main warehouse and additional second-level space.
Where is this warehouse located?
The property is located at 1405 S 5th Ave 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: Multi‑building warehouse site on a 16,379 SF lot in an Urban Mixed Use (UMX) zoned area on S 5th Avenue; Total usable space of 7,015 SF, including 4,776 SF main warehouse and 1,818 SF second‑level warehouse; Additional separate structure totaling 441 SF included in the site
