Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    7241 Market St Wilmington, NC 28411

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Prime Wilmington location, multiple spaces available.

    Lot size:
    27,200 SF

    Property Features for 7241 Market St

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    27,200 SF
    Total Rate
    68000

    Spaces For Lease

    at 7241 Market St, Wilmington, NC 28411 Contact us
    Unit Middle Sound West Commercial District

    $30 /Mo

    Size
    12,000 SF
    Contact us
    Unit Middle Sound West Commercial District

    $36 /Mo

    Size
    3,200 SF
    Contact us
    Unit Middle Sound West Commercial District

    $36 /Mo

    Size
    12,000 SF
    Contact us

    We can help!

    Listing Contact
    Steve Hall
    Steve Hall

    Listing Agency: Blue Coast Commercial Listing Agent: Steve Hall

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional commercial property in Wilmington, NC's thriving Middle Sound West district offers 27,200 square feet of versatile space ideal for retail, office, or restaurant use. Located at 7241 Market St, this multi-tenant building provides three available spaces ranging from 2,000 to 12,000 square feet, catering to a variety of business needs. Situated in the rapidly growing northern area of New Hanover County, the property benefits from high visibility and convenient access via Market Street and Lendire Road, with easy connections to Military Cutoff Road. The development's strategic location draws significant traffic from both residents and professionals, offering businesses unparalleled exposure. This mixed-use development is designed to meet the demands of modern entrepreneurs and retail enthusiasts. While the site plan, building sizes, and placement are subject to change, this presents a unique opportunity to establish a prominent presence in a dynamic and expanding area of Wilmington. The property's classification as a "Creative Office" space suggests a modern and adaptable layout suitable for innovative businesses. The zip code is 28411.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Drobny Medical Group Medical Group Parker’s Alternator Auto Repair Shop

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.818111
    Latitude
    34.276214

    Nearby Similar for Lease

    • $495 /Mo
      200 SF

      Downtown Wilmington Flexible Executive Office

      Move-in-ready office space in Wilmington's Historic Downtown District.
      404 N 3Rd St, Wilmington, NC 28401
      View Details
    • $2,350 /Mo
      1,036 SF

      Downtown Wilmington Executive Office Suite

      Furnished office space in the heart of downtown Wilmington.
      404 N 3Rd St, Wilmington, NC 28401
      View Details
    • $1,400 /Mo
      760 SF

      Wilmington Flex Space For Rent

      Small, centrally located flex space with office and warehouse components.
      102 Old Eastwood Rd, Wilmington, NC 28403
      View Details
    • $1,400 /Mo
      350 SF

      Unique Studio Space in Wilmington

      Unconventional studio space with natural light in Cargo District.
      707 S 16Th St, Wilmington, NC 28401
      View Details
    • $1,100 /Mo
      265 SF

      Spacious Office Space on Oleander

      Well-equipped office space with private entrance and included utilities.
      5004 Oleander Dr, Wilmington, NC 28403
      View Details
    • $1,556 /Mo
      812 SF

      Wilmington Retail Space For Lease

      Retail unit available in Wilmington, with parking and signage.
      3910 Princess Place Dr, Wilmington, NC 28405
      View Details
    • $2,013 /Mo
      1,049 SF

      Wilmington Retail/Office Space For Lease

      Commercial Midtown retail or office space available for lease.
      3910 Princess Place Dr, Wilmington, NC 28405
      View Details
    • $3,567 /Mo
      1,861 SF

      Wilmington Retail End Unit

      Retail end unit with flexible O&I zoning in Wilmington.
      3910 Princess Place Dr, Wilmington, NC 28405
      View Details
    • $7,133 /Mo
      3,722 SF

      Well-Maintained Commercial Building For Lease

      Three-unit commercial building suitable for various professional and service-related uses.
      3910 Princess Place Dr, Wilmington, NC 28405
      View Details
    • $800 /Mo
      200 SF

      Turnkey Office Suites in Wilmington

      Flexible office suites with utilities included, near Wrightsville Beach.
      6209 204, Wilmington, NC 28403
      View Details
    • $1,275 /Mo
      856 SF

      Flexible Office/Retail Space Available

      Move-in ready office/retail space in prime Wilmington location.
      109 Hinton Ave Unit, Wilmington, NC 28403
      View Details
    • $850 /Mo
      160 SF

      Unique Cargo District Office Space

      Shipping container workspace in Wilmington's vibrant Cargo District.
      708 S 17Th St, Wilmington, NC 28401
      View Details

    FAQs

    What type of property is this?
    Restaurant - Prime Wilmington location, multiple spaces available.
    Where is this restaurant located?
    The property is located at 7241 Market St Wilmington, NC.
    What is the lease rate?
    The lease rate is $30-$36 SF/Yr.
    What are key features of this property?
    This property features: 28,000 square feet of combined retail, restaurant, and office space available in Phase 1.; Located in the rapidly growing northern New Hanover County, offering convenient access for residents and professionals.; Three main access points from Market Street and Lendire Road, providing easy access to Military Cutoff Road.
    (910) 279-3227 Call to check price and availability
    Request Owner's contact information
    7241 Market St Wilmington, NC 28411
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    7241 Market St
    Wilmington, NC 28411
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    7241 Market St Wilmington, NC 28411
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Steve Hall
    Steve Hall
    Real Estate License ID: 255181
    (910) 279-3227 (910) 427-0000
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!