CBD Warehouse
711 N 5th Avenue, Wilmington, NC 28401
For Sale
$3,995,000
Commercial Sale, Wilmington, NC
Property Size12,653 SF
Lot Size0.94 Acres
Price / SF$315.74
Days on Market205
Property Features for 711 N 5th Avenue
General Information
Property type
Property subtype
Zoning
Parking
Parking features
Lot features
Directions
Standard status
APN
Size
Lot size
Additional Details
Currently Operating
Property Use
Taxes and HOA fees
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Tax Description
Tax Annual Amount
Legal Description
Utilities
Heating system
Cooling system
Water source
Building Details
Year built
Number of units
Flooring type
Building materials
Roof type
Listing Agency:
Intracoastal Realty Corporation
(910) 256-4503
Listed By:
Sarah W DeVries · License NC #205366
(910) 470-7253
Added: Apr 22
Changed: Nov 6
Last Checked: Nov 12 at 8:06AM
MLS# 100568713
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
The property comprises five contiguous parcels totaling 0.94 acres, with an industrial warehouse building containing 12,653 square feet. The improvements date to 1969 and include block, concrete, brick, and steel-frame construction, concrete flooring, a flat roof, central air, heat-pump and forced-air systems, and electric heating. Public water service is available, with paved off-street parking on site.
Located at 711 N 5th Avenue in Wilmington’s Brooklyn Arts District, the property is within the Central Business District and includes frontage at N. 4th Street. The site is currently operating as ACME Art Studios, a creative studio facility. Its multi-parcel configuration and CBD zoning provide a commercial warehouse setting within an established downtown district.
Located at 711 N 5th Avenue in Wilmington’s Brooklyn Arts District, the property is within the Central Business District and includes frontage at N. 4th Street. The site is currently operating as ACME Art Studios, a creative studio facility. Its multi-parcel configuration and CBD zoning provide a commercial warehouse setting within an established downtown district.
Key Highlights
- Five contiguous parcels totaling 0.94 acres
- 12,653‑square‑foot industrial warehouse building
- CBD zoning at 711 N 5th Avenue, Wilmington, NC 28401
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$161,304
Cap Rate
4.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,226,080
$3.2M
Cap Rate 7%
$2,304,343
$2.3M
Cap Rate 9%
$1,792,267
$1.8M
Market Conditions
NOI Build-Up for 12,653 SF
Gross rent
$262.5K $20.75/SF
− Vacancy
−$4.5K −$0.35/SF
EGI
$258.1K $20.40/SF
− OpEx
−$96.8K −$7.65/SF
NOI
$161.3K $12.75/SF
Area
New Hanover County, NC
Vacancy
1.70%
Lease Rate
$20.75 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,226,080
Cap Rate 7%
$2,304,343
Cap Rate 9%
$1,792,267
Alternative Uses
Best Use
Mixed Use
$2.30M
$2.02M – $2.69M
NOI $161,304 @ 7.0% cap · market cap 4.04%
Second Best
Office B
$2.30M
$2.01M – $2.68M
NOI $160,696 @ 7.0% cap · market cap 4.02%
Theoretical Best
Office A
$3.17M
$2.77M – $3.69M
NOI $221,650 @ 7.0% cap · market cap 5.55%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
2,061
Businesses Nearby
Balanced
Demand for This Use
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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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Market
Properties on Market for Warehouses in Wilmington
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Warehouse - Industrial improvements with paved off-street parking and public water service.
Where is this warehouse located?
The property is located at 711 N 5th Avenue Wilmington, NC.
What is the asking price?
The asking price for this property is $3,995,000.
What are key features of this property?
This property features: Five contiguous parcels totaling 0.94 acres; 12,653‑square‑foot industrial warehouse building; CBD zoning at 711 N 5th Avenue, Wilmington, NC 28401
