Day Care Center with Fenced Outdoor
For Sale
$875,000
Pending
2619 Newkirk Avenue, Wilmington, NC 28412
COMMERCIAL - Wilmington, NC
Property Size5,427 SF
Lot Size0.63 Acres
Days on Market92
Property Features for 2619 Newkirk Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RB
Subdivision
Not In Subdivision
Directions
From Hospital head south on 17th st. Turn Right on Shipyard, left on Newkirk. Property on left.
Standard status
Pending
APN
R06019-003-001-001
Size
5,427 SF
Lot size
0.63 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lt 1 Div Blk 13 Hanover Hts
Tax Annual Amount
6732
Legal Description
Lt 1 Div Blk 13 Hanover Hts
Utilities
Heating system
Electric (Heating)
Building Details
Year built
1984
Listing Agency:
Coldwell Banker Sea Coast Advantage · Coldwell Banker Real Estate
(910) 799-3435
Listed By:
Chris S Luther · License #280267
(910) 367-8302
Added: May 12
Changed: Aug 4
Last Checked: Aug 11 at 8:06PM
MLS# 100573080
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.
Investment Insights
Based on property information with market context.
This 5,427-square-foot facility is configured for childcare and educational operations, with multiple classrooms, office and administrative areas, dedicated drop-off and parking areas, and fenced outdoor recreation space. Built in 1984, the property is heated by electric systems and occupies approximately 0.63 acres.
Zoned RB, the property is located at 2619 Newkirk Avenue in Wilmington, NC. The site is minutes from Shipyard Boulevard, College Road, Midtown Wilmington, and surrounding residential communities. Its existing configuration supports continued consideration for daycare, preschool, private school, tutoring, therapy, counseling, or other educational and professional service uses identified in the property information.
Zoned RB, the property is located at 2619 Newkirk Avenue in Wilmington, NC. The site is minutes from Shipyard Boulevard, College Road, Midtown Wilmington, and surrounding residential communities. Its existing configuration supports continued consideration for daycare, preschool, private school, tutoring, therapy, counseling, or other educational and professional service uses identified in the property information.
Key Highlights
- 5,427 square feet configured for childcare and educational operations
- Approximately 0.63 acres
- Multiple classrooms plus office and administrative areas
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
$45,915
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
5.25%
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%
$918,300
$918.3K
Cap Rate 7%
$655,929
$655.9K
Cap Rate 9%
$510,167
$510.2K
Market Conditions
NOI Build-Up for 5,427 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
$85.3K $15.72/SF
− Vacancy
−$8.8K −$1.62/SF
EGI
$76.5K $14.10/SF
− OpEx
−$30.6K −$5.64/SF
NOI
$45.9K $8.46/SF
Area
Wilmington, NC
Vacancy
10.30%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
40.00%
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%
$918,300
Cap Rate 7%
$655,929
Cap Rate 9%
$510,167
Alternative Uses
Best Use
Healthcare Medical
$655.9K
$573.9K – $765.3K
NOI $45,915 @ 7.0% cap · market cap 5.25%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$66.45M
$58.14M – $77.53M
NOI $4,651,530 @ 7.0% cap · market cap 531.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
693
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 28412, NC
42,758
Population
20,704
Households
2.1
Avg Household Size
43
Median Age
41%
College-Educated
93%
High-School Grad
22.3 sq mi
ZIP Area
1,917
Density / Sq Mi
$67,396
Median Household Income
$40,351
Median Earnings
$1,326
Median Rent
$342,600
Median Home Value
Questions? Ask Rey
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Similar Off Market Nearby
- Carolina Gymnastics Academy — 3529 Carolina Beach Rd, Wilmington, NC 28412
- Kiddie Academy of Wilmington South Campus — 2310 Canterwood Dr, Wilmington, NC 28401
- Childrens Learning Center-New — 735 Medical Center Dr, Wilmington, NC 28401
- Bourelle After School Program — 800 Shipyard Blvd #5, Wilmington, NC 28412
Frequently Asked Questions
What type of property is this?
Day care center - Classrooms, administrative areas, dedicated drop-off space, and parking support continued childcare or educational use.
Where is this day care center located?
The property is located at 2619 Newkirk Avenue Wilmington, NC.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: 5,427 square feet configured for childcare and educational operations; Approximately 0.63 acres; Multiple classrooms plus office and administrative areas
