Wilmington Industrial Warehouse
For Sale
Contact for pricing
711 N 5th Ave, Wilmington, NC 28401
0.94 acre industrial warehouse assemblage in Brooklyn Arts District.
Property Size12,693 SF
Lot Size0.94 Acres
Price / SF$346.65
Days on Market100
Property Features for 711 N 5th Ave
General Information
Standard status
Active
Size
12,693 SF
Lot size
0.94 Acres
Property subtype
RETAIL
Listing Agency:
Intracoastal Realty Corp
Listed By:
Sky Grainger · License #234605
(910) 833-2546
Source:
Moodyscre
Added: Apr 22
Changed: Jul 10
Last Checked: Jul 30 at 7:09AM
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 0.94-acre assemblage includes five contiguous parcels currently operating as ACME Art Studios, a well-known creative hub. The property, located at 711 N 5th Ave. and N. 4th St. in Wilmington's Brooklyn Arts District, features a 12,000 sq.ft.+/- industrial warehouse. Positioned in the Central Business District, the property is ideally suited for infill redevelopment consistent with the City's vision for higher-density, walkable mixed-use environments. Surrounded by ongoing revitalization, local businesses, and cultural venues, this site offers strong potential for residential, live/work, or mixed-use development in one of downtown's fastest-growing districts.
Key Highlights
- Rare 0.94‑acre multi‑parcel assemblage in Wilmington's Brooklyn Arts District.
- Includes a 12,000 sq.ft.+/- Industrial Warehouse.
- Located in the Central Business District, ideal for infill redevelopment.
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 | $265.0k | $20.88 |
| − Vacancy | −$50.1k | −$3.95 |
| EGI | $214.9k | $16.93 |
| − OpEx | −$53.7k | −$4.23 |
| NOI | $161.2k | $12.70 |
12,693 SF · lease $20.88/SF/yr · vacancy 18.90% · expense 25.00%
Alternative Uses
Best Use
Mixed Use
$153.06M
$133.93M – $178.57M
NOI $10,714,208 @ 7.0% cap · market cap 243.50%
Second Best
Office B
$2.30M
$2.02M – $2.69M
NOI $161,204 @ 7.0% cap · market cap 3.66%
Theoretical Best
Multifamily LT 5
$155.42M
$135.99M – $181.32M
NOI $10,879,284 @ 7.0% cap · market cap 247.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,536
Businesses Nearby
Balanced
Demand for This Use
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 Office in South region
Questions? Ask Rey
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- Craftspace Commercial — 921 Princess St, Wilmington, NC 28401
Frequently Asked Questions
What type of property is this?
Warehouse - 0.94 acre industrial warehouse assemblage in Brooklyn Arts District.
Where is this warehouse located?
The property is located at 711 N 5th Ave Wilmington, NC.
What is the asking price?
The asking price for this property is $4,400,000.
What are key features of this property?
This property features: Rare 0.94‑acre multi‑parcel assemblage in Wilmington's Brooklyn Arts District.; Includes a 12,000 sq.ft.+/- Industrial Warehouse.; Located in the Central Business District, ideal for infill redevelopment.
