Versatile Commercial Property Near Medical
For Sale
$700,000
3101 Princess Place Drive, Wilmington, NC 28405
Community business zoned property with commercial kitchen and outdoor space.
Property Size3,598 SF
Lot Size0.31 Acres
Price / SF$194.55
Days on Market671
Property Features for 3101 Princess Place Drive
General Information
Standard status
Active
Size
3,598 SF
Lot size
0.31 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
1997
Listing Agency:
Berkshire Hathaway HomeServices Carolina Premier Properties
(910) 262-4797
Listed By:
Shannon Bowers · License #322210
(910) 262-4797
Source:
Exitrealty
Added: Sep 28, 2024
Changed: Jul 10
Last Checked: Jul 1 at 12:25AM
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 Berkshire Hathaway HomeServices Carolina Premier Properties
Investment Insights
Based on property information with market context.
This property, zoned for community business, is located on Princess Place Drive, adjacent to Novant's Michael Jordan Medical Clinic, which is currently under construction. The property offers 3,598 heated square feet and was previously used as a daycare licensed for 84 children. It features a full commercial kitchen, and all FF&E will convey with the sale. The property is suitable for various uses, including a food truck commissary, hospitality, residential group home, community center, kennel, rehab facility, educational facility, medical and professional offices. The layout includes classrooms, offices, and recreational areas. Parking is available, along with a fenced outdoor space suitable for play or community events.
Key Highlights
- COMMUNITY BUSINESS zoning allows for diverse uses such as food truck commissary, hospitality, and medical offices.
- Prime location adjacent to Novant's Michael Jordan Medical Clinic.
- Substantial 3,598 heated square feet.
Financial Insights For Specialty Retail
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 | $56.6k | $15.72 |
| − Vacancy | −$5.8k | −$1.62 |
| EGI | $50.7k | $14.10 |
| − OpEx | −$12.7k | −$3.53 |
| NOI | $38.1k | $10.58 |
3,598 SF · lease $15.72/SF/yr · vacancy 10.30% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$543.6K
$475.6K – $634.2K
NOI $38,051 @ 7.0% cap · market cap 5.44%
Second Best
Industrial
$524.2K
$458.7K – $611.6K
NOI $36,697 @ 7.0% cap · market cap 5.24%
Theoretical Best
Multifamily LT 5
$44.06M
$38.55M – $51.40M
NOI $3,083,878 @ 7.0% cap · market cap 440.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
348
Businesses Nearby
Balanced
Demand for This Use
Explore this area
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- The Learning Center — 2310 Scientific Park Dr, Wilmington, NC 28405
- Child Development Center — 3802 Princess Pl Dr, Wilmington, NC 28405
- Busy Bee Christian Child Care — 10 Kenwood Ave, Wilmington, NC 28405
- Kings Kids — 10 Kenwood Ave, Wilmington, NC 28405
- Children's Learning Center of Wilmington — 71 Darlington Ave, Wilmington, NC 28403
Frequently Asked Questions
What type of property is this?
Day care center - Community business zoned property with commercial kitchen and outdoor space.
Where is this day care center located?
The property is located at 3101 Princess Place Drive Wilmington, NC.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: COMMUNITY BUSINESS zoning allows for diverse uses such as food truck commissary, hospitality, and medical offices.; Prime location adjacent to Novant's Michael Jordan Medical Clinic.; Substantial 3,598 heated square feet.
