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    420 Raleigh St Wilmington, NC 28412

    Sponsored
    For Sale
    $3,265,000

    Wilmington, NC multi-tenant office/warehouse

    Property size:
    13,500 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a fully leased, 13,500 square foot office and warehouse building situated on a 2.96-acre lot in Wilmington, North Carolina. The property, located at 420 Raleigh Street, enjoys a prime location just off Carolina Beach Road and in close proximity to the Port of Wilmington. The Class B building features seven separate units currently occupied by four tenants under modified leases, offering significant upside potential due to below-market rental rates. The property includes an expansive paved and fenced lay-down yard, along with several additional outbuildings not included in the advertised square footage. A large portion of the warehouse space benefits from climate control. The property is zoned IND (Industrial) by the City of Wilmington and boasts a 100% occupancy rate. This multi-tenant property presents a strong cash flow opportunity with potential for future appreciation. The asking price is $3,265,000. The property's Asset Property Number (APN) is R06500-002-046-000. This is a rare opportunity to acquire a well-maintained, income-producing property in a desirable location.

    Property Features for 420 Raleigh St

    General Information

    Property type
    Distribution properties
    Square Feet
    13,500 SF
    Class
    B
    Lot Size
    128,938 SF

    Building Details

    Units
    7
    Property Profile Location Intelligence

    Current Use by Public Records

    274 Construction Group, ... Contractor Chadsworth Columns Building Materials Supplier Yellow Truck & Trailer ... Truck Repair Shop Carolina Green Builders General Contractor Chadsworth Incorporated Building Materials Supplier

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    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
    -77.9322251
    Latitude
    34.182327

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    FAQs

    What type of property is this?
    Distribution property - Wilmington, NC multi-tenant office/warehouse
    Where is this distribution property located?
    The property is located at 420 Raleigh St Wilmington, NC.
    What is the asking price?
    The asking price for this property is $3,265,000.
    Request Owner's contact information
    420 Raleigh St Wilmington, NC 28412
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    Realmo Value Estimation

    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.

    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.

    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
    420 Raleigh St Wilmington, NC 28412
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