Multifamily Apartment
201 Sunn Aire Court, Wilmington, NC 28405
For Sale
Contact for pricing
For sale multifamily apartment building at 201 Sunn Aire Court in Wilmington, NC 28405.
Property Size21,840 SF
Price / SF$228.71
Days on Market126
Property Features for 201 Sunn Aire Court
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Building Details
Year Built
Units
Listing Agency:
APARTMENT CORE
Listed By:
Mike Siciliano
Source:
Crexi
Added: Jul 7
Changed: Nov 1
Last Checked: Nov 8 at 9:18AM
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 APARTMENT CORE
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Investment Insights
Based on property information with market context.
This for-sale multifamily apartment building is located at 201 Sunn Aire Court in Wilmington, North Carolina.
The property is listed as an apartment building and multifamily residential income asset. Beyond the address and listing classification, no additional unit, layout, amenity, or condition details were provided in the available information.
The property is listed as an apartment building and multifamily residential income asset. Beyond the address and listing classification, no additional unit, layout, amenity, or condition details were provided in the available information.
Key Highlights
- Multifamily apartment building for sale at 201 Sunn Aire Court, Wilmington, NC 28405
- Built in 1986
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$190,491
Cap Rate
3.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,809,820
$3.8M
Cap Rate 7%
$2,721,300
$2.7M
Cap Rate 9%
$2,116,567
$2.1M
Market Conditions
NOI Build-Up for 21,840 SF
Gross rent
$385.3K $17.64/SF
− Vacancy
−$38.9K −$1.78/SF
EGI
$346.3K $15.86/SF
− OpEx
−$155.9K −$7.14/SF
NOI
$190.5K $8.72/SF
Area
New Hanover County, NC
Vacancy
10.10%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,809,820
Cap Rate 7%
$2,721,300
Cap Rate 9%
$2,116,567
Alternative Uses
Best Use
Apartment 5plus
$2.72M
$2.38M – $3.17M
NOI $190,491 @ 7.0% cap · market cap 3.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.47M
$4.78M – $6.38M
NOI $382,584 @ 7.0% cap · market cap 7.66%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Location Intelligence
Trade Area within ½ mile
756
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - For sale multifamily apartment building at 201 Sunn Aire Court in Wilmington, NC 28405.
Where is this apartment building located?
The property is located at 201 Sunn Aire Court Wilmington, NC.
What is the asking price?
The asking price for this property is $4,995,000.
What are key features of this property?
This property features: Multifamily apartment building for sale at 201 Sunn Aire Court, Wilmington, NC 28405; Built in 1986
