Freestanding Office/Warehouse
For Sale
Contact for pricing
420 Raleigh St, Wilmington, NC 28412
Freestanding office/warehouse building with a fenced laydown yard and climate-controlled warehouse areas.
Property Size13,500 SF
Lot Size2.96 Acres
Price / SF$241.85
Days on Market367
Property Features for 420 Raleigh St
General Information
Standard status
Active
Size
13,500 SF
Lot size
2.96 Acres
Property subtype
INDUSTRIAL
Zoning
IND
Occupancy
100%
Site & Location
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Building Details
Tenancy
Multi
Listing Agency:
Cape Fear Commercial, LLC
(910) 233-5351
Listed By:
William Leonard
(910) 233-5351
Source:
Moodyscre
Added: Jul 29, 2025
Changed: Jul 26
Last Checked: Jul 30 at 12:48PM
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 freestanding office/warehouse building offers office and warehouse space within a well-maintained industrial configuration. The property totals approximately 13,500 square feet and sits on approximately 2.96 acres zoned IND (Industrial) by the City of Wilmington. It is leased to four tenants across seven separate units, and the building includes an expansive stoned and fenced laydown yard plus several outbuildings that are not included in the advertised square footage. A large majority of the warehouse areas are climate controlled.
The property fronts Raleigh Street and is located just off Carolina Beach Road, close to the Port of Wilmington.
For sale with current tenant occupancy, investors and owner-users should inquire with the listing agent regarding specific lease terms.
The property fronts Raleigh Street and is located just off Carolina Beach Road, close to the Port of Wilmington.
For sale with current tenant occupancy, investors and owner-users should inquire with the listing agent regarding specific lease terms.
Key Highlights
- Freestanding office/warehouse building totaling ±13,500 SF on ±2.96 AC fronting Raleigh Street
- Zoned IND (Industrial) by the City of Wilmington
- Fully leased to 4 tenants occupying 7 separate units
Financial Insights For Office B
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 | $281.9k | $20.88 |
| − Vacancy | −$53.3k | −$3.95 |
| EGI | $228.6k | $16.93 |
| − OpEx | −$57.2k | −$4.23 |
| NOI | $171.5k | $12.70 |
13,500 SF · lease $20.88/SF/yr · vacancy 18.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.45M
$2.14M – $2.86M
NOI $171,454 @ 7.0% cap · market cap 5.25%
Second Best
Warehouse
$2.39M
$2.09M – $2.79M
NOI $167,195 @ 7.0% cap · market cap 5.12%
Theoretical Best
Multifamily LT 5
$165.30M
$144.64M – $192.85M
NOI $11,570,971 @ 7.0% cap · market cap 354.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
208
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- A Thyme Savor — 3704 Carolina Beach Rd, Wilmington, NC 28412
Frequently Asked Questions
What type of property is this?
Flex space - Freestanding office/warehouse building with a fenced laydown yard and climate-controlled warehouse areas.
Where is this flex space located?
The property is located at 420 Raleigh St Wilmington, NC.
What is the asking price?
The asking price for this property is $3,265,000.
What are key features of this property?
This property features: Freestanding office/warehouse building totaling ±13,500 SF on ±2.96 AC fronting Raleigh Street; Zoned IND (Industrial) by the City of Wilmington; Fully leased to 4 tenants occupying 7 separate units
