Holiday Inn Express &
For Sale
Contact for pricing
839 Medical Center Dr, Wilmington, NC 28401
109-room hotel in Wilmington, North Carolina for sale.
Property Size59,940 SF
Price / SF$245.25
Days on Market668
Property Features for 839 Medical Center Dr
General Information
Standard status
Active
Size
59,940 SF
Property subtype
Hospitality
Building Details
Year Built
2019
Listing Agency:
Cushman & Wakefield - Boca Raton, Florida
Listed By:
David Greenberg · License #FL SL3140783
Source:
Crexi
Added: Oct 9, 2024
Changed: Jul 6
Last Checked: Aug 5 at 12:07PM
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 Cushman & Wakefield - Boca Raton, Florida
Investment Insights
Based on property information with market context.
The Holiday Inn Express & Suites is a four-story, limited-service hotel with 109 rooms, located in Wilmington, North Carolina. The property is situated near Wellington Avenue, Shipyard Boulevard, and Carolina Beach Road, offering convenient access for commuters. Its location provides access to beaches, cultural attractions, and recreational activities, attracting a diverse clientele, including healthcare professionals, business travelers, and families. The hotel benefits from brand recognition, which helps drive customer trust and repeat business. This property offers investors the opportunity to acquire a 109-room hotel in a growing market. The property size is 59940 square feet.
Key Highlights
- 109‑room Holiday Inn Express & Suites in Wilmington, North Carolina.
- Built in 2019, offering modern facilities.
- Strong brand recognition with the Holiday Inn Express flag.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$614,216
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.18%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$12,284,320
$12.3M
Cap Rate 7%
$8,774,514
$8.8M
Cap Rate 9%
$6,824,622
$6.8M
Market Conditions
NOI Build-Up for 59,940 SF
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.
Gross rent
$1.62M $27.00/SF
− Vacancy
−$325.3K −$5.43/SF
EGI
$1.29M $21.57/SF
− OpEx
−$678.9K −$11.33/SF
NOI
$614.2K $10.25/SF
Area
Wilmington, NC
Vacancy
20.10%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$12,284,320
Cap Rate 7%
$8,774,514
Cap Rate 9%
$6,824,622
Alternative Uses
Best Use
Hotel Hospitality
$8.77M
$7.68M – $10.24M
NOI $614,216 @ 7.0% cap · market cap 4.18%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$733.93M
$642.19M – $856.25M
NOI $51,375,112 @ 7.0% cap · market cap 349.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,181
Businesses Nearby
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Hotel - 109-room hotel in Wilmington, North Carolina for sale.
Where is this hotel located?
The property is located at 839 Medical Center Dr Wilmington, NC.
What is the asking price?
The asking price for this property is $14,700,000.
What are key features of this property?
This property features: 109‑room Holiday Inn Express & Suites in Wilmington, North Carolina.; Built in 2019, offering modern facilities.; Strong brand recognition with the Holiday Inn Express flag.
