243 N Front, Wilmington, NC
23,750 SF building in downtown Wilmington for lease.
- Added:
- Jul 23, 2025
- Days on Market:
- 323
- Last Refresh:
- May 20 at 8:52 pm
Property Features for 243 N Front
General Information
- Standard status
- Active
- Size
- 21,600 SF
- Lot size
- 0.50 Acres
- Property subtype
- OFFICE
Listing agent Keith Austin (910) 352-3660
Listing office Cape Fear Commercial, LLC (910) 352-3660
Listing date Jul 23, 2025
Source Moodyscre
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All listing content including descriptions, pricing, images are the copyrighted material of Cape Fear Commercial, LLC
HighLights
- Prime downtown Wilmington location in the Central Business District (CBD).
- Large 23,750 SF building with 21,600 usable square feet.
- Dual access from Front Street and Bijou Park.
- Potential for conversion of ground floor to retail use.
- Suitable for owner‑occupants or investors.
- Tenant vacating at lease end (April 30, 2026).
Overview
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $451.0k | $20.88 |
| − Vacancy | −$85.2k | −$3.95 |
| EGI | $365.8k | $16.93 |
| − OpEx | −$91.4k | −$4.23 |
| NOI | $274.3k | $12.70 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Wilmington
- County
- New Hanover
- State
- North Carolina
- Longitude
- -77.9495
- Latitude
- 34.2384
