Market Street Office
For Sale
Contact for pricing
2419 Market St, Wilmington, NC
Two-story office building with high visibility and ample parking.
Property Size10,487 SF
Lot Size0.84 Acres
Price / SF$214.55
Days on Market260
Property Features for 2419 Market St
General Information
Standard status
Active
Size
10,487 SF
Lot size
0.84 Acres
Property subtype
OFFICE
Listing Agency:
Creative Commercial Properties
(910) 515-3622
Listed By:
Laurence Nadeau · License #277404
(910) 515-3622
Source:
Moodyscre
Added: Nov 24, 2025
Changed: Aug 8
Last Checked: Aug 11 at 5:55AM
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 Creative Commercial Properties
Investment Insights
Based on property information with market context.
This offering presents the opportunity to purchase a two-story brick building situated on Market Street, positioned at the entrance to a prominent Wilmington neighborhood. The structure exhibits a classic architectural style and includes off-street parking, secured by a brick and wrought iron fence. The building has a total area of 10,487 square feet.
Key Highlights
- High‑visibility location on Market Street.
- Entrance to one of Wilmington's most prestigious neighborhoods.
- Two‑story brick structure with classic architectural style.
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
$133,188
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
5.92%
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%
$2,663,760
$2.7M
Cap Rate 7%
$1,902,686
$1.9M
Cap Rate 9%
$1,479,867
$1.5M
Market Conditions
NOI Build-Up for 10,487 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
$219.0K $20.88/SF
− Vacancy
−$41.4K −$3.95/SF
EGI
$177.6K $16.93/SF
− OpEx
−$44.4K −$4.23/SF
NOI
$133.2K $12.70/SF
Area
Wilmington, NC
Vacancy
18.90%
Lease Rate
$20.88 /SF/Yr
Expense Ratio
25.00%
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%
$2,663,760
Cap Rate 7%
$1,902,686
Cap Rate 9%
$1,479,867
Alternative Uses
Best Use
Office B
$1.90M
$1.66M – $2.22M
NOI $133,188 @ 7.0% cap · market cap 5.92%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$128.41M
$112.36M – $149.81M
NOI $8,988,502 @ 7.0% cap · market cap 399.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,268
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two-story office building with high visibility and ample parking.
Where is this office building located?
The property is located at 2419 Market St Wilmington, NC.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: High‑visibility location on Market Street.; Entrance to one of Wilmington's most prestigious neighborhoods.; Two‑story brick structure with classic architectural style.
