Multi-Tenant Industrial
For Sale
Contact for pricing
3700-3720 N Highway 421, Wilmington, NC 28401
Two-building industrial asset with three tenants under net lease structures and full occupancy.
Property Size106,000 SF
Lot Size8.40 Acres
Price / SF$123.28
Days on Market49
Property Features for 3700-3720 N Highway 421
General Information
Standard status
Active
Size
106,000 SF
Lot size
8.40 Acres
Property subtype
INDUSTRIAL
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Buildings
2
Tenancy
Multi
Listing Agency:
Sun Coast Partners Commercial
(910) 350-1200
Listed By:
Cody Cress
(910) 409-8421
Source:
Moodyscre
Added: Sep 1
Changed: Oct 15
Last Checked: Oct 16 at 10:16AM
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 Sun Coast Partners Commercial
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The offering comprises two industrial buildings totaling 106,000 square feet on approximately 8.4 acres. The property is occupied by three tenants under net lease arrangements, with contractual rent increases projected through 2033. The asset is being offered as a fully leased industrial investment.
Located along Highway 421 in Wilmington, the property sits near the I-140 access ramps. This connection supports travel toward Highway 17/74/76 in Leland, I-40, and Highway 17 in Porters Neck, with broader reach across Southeastern North Carolina and into South Carolina.
The going-in cap rate is approximately 6%, beginning January 1, 2027. Showings require coordination through the listing firm and an executed confidentiality agreement.
Located along Highway 421 in Wilmington, the property sits near the I-140 access ramps. This connection supports travel toward Highway 17/74/76 in Leland, I-40, and Highway 17 in Porters Neck, with broader reach across Southeastern North Carolina and into South Carolina.
The going-in cap rate is approximately 6%, beginning January 1, 2027. Showings require coordination through the listing firm and an executed confidentiality agreement.
Key Highlights
- 106,000‑square‑foot industrial facility on ±8.4 acres
- Two‑building configuration occupied by three tenants
- Fully leased under net lease structures
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,081,124
Cap Rate
8.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$21,622,480
$21.6M
Cap Rate 7%
$15,444,629
$15.4M
Cap Rate 9%
$12,012,489
$12.0M
Market Conditions
NOI Build-Up for 106,000 SF
Gross rent
$1.65M $15.60/SF
− Vacancy
−$109.1K −$1.03/SF
EGI
$1.54M $14.57/SF
− OpEx
−$463.3K −$4.37/SF
NOI
$1.08M $10.20/SF
Area
Wilmington, NC
Vacancy
6.60%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$21,622,480
Cap Rate 7%
$15,444,629
Cap Rate 9%
$12,012,489
Alternative Uses
Best Use
Warehouse
$18.75M
$16.41M – $21.88M
NOI $1,312,793 @ 7.0% cap · market cap 10.05%
Second Best
Industrial
$15.44M
$13.51M – $18.02M
NOI $1,081,124 @ 7.0% cap · market cap 8.27%
Theoretical Best
Multifamily LT 5
$1,297.91M
$1,135.67M – $1,514.23M
NOI $90,853,551 @ 7.0% cap · market cap 695.24%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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
109
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
Frequently Asked Questions
What type of property is this?
Industrial property - Two-building industrial asset with three tenants under net lease structures and full occupancy.
Where is this industrial property located?
The property is located at 3700-3720 N Highway 421 Wilmington, NC.
What is the asking price?
The asking price for this property is $13,068,000.
What are key features of this property?
This property features: 106,000‑square‑foot industrial facility on ±8.4 acres; Two‑building configuration occupied by three tenants; Fully leased under net lease structures
