Fully Leased Flex Space
For Sale
Contact for pricing
Pending
3240 Us Hwy 421 N, Wilmington, NC 28401
Three office/warehouse buildings are fully leased as a multi-tenant flex space portfolio.
Property Size25,000 SF
Days on Market354
Property Features for 3240 Us Hwy 421 N
General Information
Standard status
Pending
Size
25,000 SF
Property subtype
INDUSTRIAL
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Buildings
3
Tenancy
Multi
Listing Agency:
Cape Fear Commercial, LLC
(910) 233-5351
Listed By:
William Leonard
(910) 233-5351
Source:
Moodyscre
Added: Aug 11, 2025
Changed: Jul 30
Last Checked: Jul 30 at 8:11PM
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 Cape Fear Commercial, LLC
Investment Insights
Based on property information with market context.
This fully-leased, multi-tenant industrial flex space portfolio consists of three office/warehouse buildings fronting US Highway 421 N, just south of the intersection with Interstate 140. The portfolio includes two freestanding 10,000 SF buildings and one freestanding 5,000 SF building, totaling approximately 25,000 square feet.
The offering also includes a significant amount of additional land on-site, which may support expansion or future development, subject to verification based on wetlands, topography, setbacks, and existing stormwater infrastructure.
The offering also includes a significant amount of additional land on-site, which may support expansion or future development, subject to verification based on wetlands, topography, setbacks, and existing stormwater infrastructure.
Key Highlights
- Fully‑leased, multi‑tenant flex space portfolio with three office/warehouse buildings
- Two freestanding 10,000 SF buildings plus one 5,000 SF building totaling 25,000 SF
- Fronts US Highway 421 N, just south of the intersection with Interstate 140
Financial Insights For Warehouse
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 | $390.0k | $15.60 |
| − Vacancy | −$25.7k | −$1.03 |
| EGI | $364.3k | $14.57 |
| − OpEx | −$54.6k | −$2.19 |
| NOI | $309.6k | $12.38 |
25,000 SF · lease $15.60/SF/yr · vacancy 6.60% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$4.42M
$3.87M – $5.16M
NOI $309,621 @ 7.0% cap · market cap 6.25%
Second Best
Industrial
$3.64M
$3.19M – $4.25M
NOI $254,982 @ 7.0% cap · market cap 5.15%
Theoretical Best
Multifamily LT 5
$306.11M
$267.85M – $357.13M
NOI $21,427,724 @ 7.0% cap · market cap 432.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
62
Businesses Nearby
Explore this area
Business Placement
Demographics for 28401, NC
22,204
Population
13,017
Households
1.7
Avg Household Size
41
Median Age
34%
College-Educated
88%
High-School Grad
31.0 sq mi
ZIP Area
716
Density / Sq Mi
$52,159
Median Household Income
$35,739
Median Earnings
$1,183
Median Rent
$263,000
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Three office/warehouse buildings are fully leased as a multi-tenant flex space portfolio.
Where is this flex space located?
The property is located at 3240 Us Hwy 421 N Wilmington, NC.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: Fully‑leased, multi‑tenant flex space portfolio with three office/warehouse buildings; Two freestanding 10,000 SF buildings plus one 5,000 SF building totaling 25,000 SF; Fronts US Highway 421 N, just south of the intersection with Interstate 140
