Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Industrial Space For Lease Title is generated by Realmo AI

    1519 N 23rd St, Wilmington, NC 28405

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    28,390± SF industrial space available in Wilmington, North Carolina.

    Type:Industrial
    Property size:
    28,390 SF
    Added:
    Apr 20, 2023
    Days on Market:
    1119
    Last Refresh:
    Mar 17 at 1:15 pm

    Property Features for 1519 N 23rd St

    General Information

    Standard status
    Active
    Size
    28,390 SF
    Property subtype
    Industrial

    Building Details

    Year Built
    1959

    Spaces For Lease

    at 1519 N 23rd St Contact us

    Unit 550 $9 /Mo

    Size
    28,390 SF
    Type
    Industrial
    Suite 550 is the only available unit within the multi-tenant building. The suite...
    show more
    Contact us

    We can help!

    Listing Contact
    Tyler Pegg

    Listing agent Tyler Pegg License #249446

    Listing office Sun Coast Partners Commercial

    Listing date Apr 20, 2023

    Source Crexi

    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 Sun Coast Partners Commercial

    HighLights

    • 28,390± SF of Industrial Space Available
    • Prime location within the ILM International Airport submarket
    • Convenient access to major transportation arteries: I‑40, I‑140, Hwy 421, Hwy 17, Hwy 74/76
    • Located at the stoplight intersection of 23rd Street and One Tree Hill Way at the MLK Parkway on / off ramp
    • Close proximity to Cinespace Film Studios, Alcami, Spectrum, Atlantic Packaging, UPS’s Customer Distribution Center, and FedEx’s Ship Center
    • Corner location providing excellent interconnectivity

    Overview

    Available for lease is a 28,390± square foot industrial space located at Venture23, situated at 1519 North 23rd Street in Wilmington, North Carolina. This industrial space, suitable for warehouse, office, or showroom purposes, is positioned within the ILM International Airport submarket. Its location offers convenient access to Cinespace Film Studios (formerly Screengems), Alcami, Spectrum, Atlantic Packaging, UPS’s Customer Distribution Center, and FedEx’s Ship Center. Venture23 benefits from its location at the intersection of 23rd Street and One Tree Hill Way, near the MLK Parkway on/off ramp. This corner location facilitates connectivity to I-40, I-140, Hwy 421, Hwy 17, and Hwy 74/76, as well as proximity to Downtown Wilmington.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Alcami Factory Marmolite Granite & Marble Building Supply Evolution Digital Studios Film Production Mission Defense Corporation Freight Service Runway to Success Model ... Marketing & Advertising

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Big Box & Wholesale Store Auto Repair Shop Hotel & Motel Gym & Fitness Center Pharmacy Auto Parts Store

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

    Similar Places Nearby

    • MCO Distribution & Logistics — 802 N 23rd St, Wilmington, NC 28405
    • L&L Self Storage — 1215 N 23rd St, Wilmington, NC 28405
    • Prime Storage — 2306 n 23rd st, wilmington, nc 28401
    • Frontier Scientific Solutions - HQ (Phase I) — Wilmington, NC 28405
    • JMT Services, LLC — 1536-25 Castle Hayne Rd, Wilmington, NC 28401

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.9206481
    Latitude
    34.2555777

    Nearby Similar for Lease

    • $12,000/Mo

      Wilmington Industrial Facility with Yard

      Freestanding industrial facility with warehouse, office, and secured yard.
      1501 Marstellar Street, Wilmington, NC 28401
      View Details
    • $2,970/Mo

      Wilmington Office Space For Lease

      Office space in established commercial corridor with flexible leasing options.
      330 Shipyard Boulevard, Wilmington, NC 28412
      View Details
    • $1,600/Mo

      Wilmington Retail Space For Lease

      900 SF retail space in a high-traffic Wilmington location.
      4904 Carolina Beach Road, Wilmington, NC 28412
      View Details
    • $800/Mo

      Private Office Space Available

      Single-room office in Wilmington, NC, ideal for small business professionals.
      1901 Kent Street, Wilmington, NC 28403
      View Details
    • $545/Mo

      Downtown Wilmington Flexible Executive Office

      Move-in-ready commercial space in Wilmington's Historic Downtown District.
      404 N 3rd Street, Wilmington, NC 28401
      View Details
    • $2,000/Mo

      Downtown Wilmington Executive Office Suite

      Furnished office space in the heart of downtown Wilmington.
      404 N 3rd Street, Wilmington, NC 28401
      View Details
    • $4,200/Mo

      Downtown Wilmington Commercial Space Available

      Two-story commercial space with loft in downtown Wilmington.
      271 N Front Street, Wilmington, NC 28401
      View Details
    • $153,672 SF/Yr

      Porters Neck Commercial Space Available

      6,400+ SF commercial space in rapidly growing Porters Neck.
      155 Porters Neck Road, Wilmington, NC 28411
      View Details
    • $16 SF/Yr

      Versatile Warehouse/Office Space Available

      14,400 SF warehouse/office space with ample parking and fenced yard.
      6644 Gordon Road, Wilmington, NC 28411
      View Details
    • $763/Mo

      Salon Suites in Midtown Wilmington

      All-inclusive salon suites for lease in vibrant Midtown Wilmington.
      916 S 17th Street, Wilmington, NC 28401
      View Details
    • $16,500/Mo

      Wilmington Commercial Space For Lease

      Two-story building in the heart of Wilmington available for lease.
      2451 College Road, Wilmington, NC 28412
      View Details
    • $3,000/Mo

      Wilmington Commercial Space For Rent

      Flexible commercial space with UMX zoning in Wilmington, NC.
      1120 S 3rd Street, Wilmington, NC 28401
      View Details

    FAQs

    What type of property is this?
    Warehouse - 28,390± SF industrial space available in Wilmington, North Carolina.
    Where is this warehouse located?
    The property is located at 1519 N 23rd St Wilmington, NC.
    What are key features of this property?
    This property features: 28,390± SF of Industrial Space Available; Prime location within the ILM International Airport submarket; Convenient access to major transportation arteries: I‑40, I‑140, Hwy 421, Hwy 17, Hwy 74/76
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Tyler Pegg
    Real Estate License ID: 249446
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    1519 N 23rd St, Wilmington, NC 28405
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!