Multi-Tenant Industrial
For Sale
Contact for pricing
3700 US Highway 421, Wilmington, NC 28401
Two-building industrial asset with three occupants under net lease structures and direct connectivity to regional transportation routes.
Property Size106,000 SF
Price / SF$123.28
Days on Market50
Property Features for 3700 US Highway 421
General Information
Standard status
Active
Size
106,000 SF
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
Listed By:
Tyler Pegg · License #249446
(910) 512-3550
Source:
Crexi
Added: Sep 1
Changed: Oct 15
Last Checked: Oct 19 at 4:11AM
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
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Investment Insights
Based on property information with market context.
The Exchange comprises two industrial buildings totaling 106,000 square feet at 3700 and 3720 US Highway 421 in Wilmington. The facility is fully leased to three tenants under net lease structures, providing an established multi-tenant configuration with contractual rent growth modeled through 2033. Tenants are not to be disturbed, and property access is coordinated through the listing firm under a signed confidentiality agreement.
The property sits along Highway 421 near the I-140 access ramps, connecting with Highway 17, Highway 74, Highway 76, and I-40. Its location also provides access to the Port of Wilmington and transportation routes serving Leland, Porters Neck, Raleigh, Charlotte, Greensboro, and Myrtle Beach. The asset is positioned within Wilmington's established industrial area and offers scale for regional logistics operations.
The property sits along Highway 421 near the I-140 access ramps, connecting with Highway 17, Highway 74, Highway 76, and I-40. Its location also provides access to the Port of Wilmington and transportation routes serving Leland, Porters Neck, Raleigh, Charlotte, Greensboro, and Myrtle Beach. The asset is positioned within Wilmington's established industrial area and offers scale for regional logistics operations.
Key Highlights
- 106,000 square feet across a two‑building industrial facility
- Fully leased to three tenants
- Net lease structures with contractual rent growth modeled through 2033
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.
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Property Analytics
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Open 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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
- NextStor Storage Pro — 202 Transcom Ct, Wilmington, NC 28401
- Two Men and a Truck Moving and Storage — 3861 US-421, Wilmington, NC 28401
Frequently Asked Questions
What type of property is this?
Warehouse - Two-building industrial asset with three occupants under net lease structures and direct connectivity to regional transportation routes.
Where is this warehouse located?
The property is located at 3700 US 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 feet across a two‑building industrial facility; Fully leased to three tenants; Net lease structures with contractual rent growth modeled through 2033
