Retail Redevelopment Site with
For Sale
Contact for pricing
7015 Market St, Wilmington, NC 28411
Commercial land with a roughly 2,800-square-foot building and 105 feet of Market Street frontage in a B-2 zone.
Property Size2,800 SF
Lot Size0.67 Acres
Price / SF$348.21
Days on Market731
Property Features for 7015 Market St
General Information
Standard status
Active
Size
2,800 SF
Lot size
0.67 Acres
Property subtype
RETAIL
Zoning
B-2
Listing Agency:
Intracoastal Realty Corp
Listed By:
Sky Grainger · License #234605
(910) 833-2546
Source:
Moodyscre
Added: Aug 2, 2024
Changed: Jul 28
Last Checked: Aug 2 at 7:48AM
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 Intracoastal Realty Corp
Investment Insights
Based on property information with market context.
This highly visible commercial property includes an existing building of approximately 2,800 square feet on 0.67 acres. The site features 105 feet of Market Street frontage, providing exposure for a variety of commercial concepts.
The property is located at 7015 Market St in a B-2 zoned area. The frontage and visibility along Market Street support continued business use of the existing structure or consideration of redevelopment into new commercial or mixed-use space, depending on project goals.
With both an improved site and substantial frontage, this offering is suited for buyers looking for redevelopment flexibility within a B-2 environment.
The property is located at 7015 Market St in a B-2 zoned area. The frontage and visibility along Market Street support continued business use of the existing structure or consideration of redevelopment into new commercial or mixed-use space, depending on project goals.
With both an improved site and substantial frontage, this offering is suited for buyers looking for redevelopment flexibility within a B-2 environment.
Key Highlights
- B‑2 zoned commercial property with 105 feet of Market Street frontage
- Approximately 0.67 acres of land
- Existing building offers approximately 2,800 SF of commercial space
Financial Insights For 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 | $44.0k | $15.72 |
| − Vacancy | −$4.5k | −$1.62 |
| EGI | $39.5k | $14.10 |
| − OpEx | −$11.8k | −$4.23 |
| NOI | $27.6k | $9.87 |
2,800 SF · lease $15.72/SF/yr · vacancy 10.30% · expense 30.00%
Alternative Uses
Best Use
Retail
$394.8K
$345.5K – $460.6K
NOI $27,638 @ 7.0% cap · market cap 2.83%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$34.28M
$30.00M – $40.00M
NOI $2,399,905 @ 7.0% cap · market cap 246.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,076
Businesses Nearby
Explore this area
Business Placement
Demographics for 28411, NC
37,834
Population
16,978
Households
2.2
Avg Household Size
41
Median Age
53%
College-Educated
96%
High-School Grad
41.2 sq mi
ZIP Area
918
Density / Sq Mi
$94,200
Median Household Income
$49,008
Median Earnings
$1,685
Median Rent
$363,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Commercial land with a roughly 2,800-square-foot building and 105 feet of Market Street frontage in a B-2 zone.
Where is this retail space located?
The property is located at 7015 Market St Wilmington, NC.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: B‑2 zoned commercial property with 105 feet of Market Street frontage; Approximately 0.67 acres of land; Existing building offers approximately 2,800 SF of commercial space
