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    1916 16Th St Wilmington, NC 28401

    Sponsored
    For Sale
    $400,000

    Prime Drive-Thru Location, High Traffic Area

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    399
    This exceptional 0.5-acre commercial property, located at 1916 S 16th St in Wilmington, North Carolina (APN: R05419-008-001-000), presents a lucrative investment opportunity. Priced at $400,000, this represents a land value of $800,000 per acre. The property boasts a highly desirable location on the signalized corner of S. 16th Street and Robinhood Road, offering unparalleled visibility and accessibility. Situated less than a quarter-mile from New Hanover Regional Medical Center, this site benefits from significant daily traffic counts averaging 24,000 vehicles on 16th Street. Zoned O&I, the property is ideally suited for a variety of uses, including restaurants with drive-thrus, drug stores, or office spaces. The vacant land provides ample space for development, making this a prime opportunity for investors seeking a high-traffic, strategically located commercial property in a thriving Wilmington neighborhood. The property's zoning and location combine to create a strong foundation for a successful commercial venture. This is a rare opportunity to acquire a well-positioned parcel in a high-demand area of Wilmington, NC. The property's proximity to a major medical center further enhances its appeal and potential for strong returns.

    Property Features for 1916 16Th St

    General Information

    Property type
    Hospitality properties
    Lot Size
    21,780 SF

    HighLights

    • 0.5‑acre commercial lot in Wilmington, NC, priced at $400,000.
    • High‑traffic corner location at S. 16th St & Robinhood Rd, offering excellent visibility.
    • Less than 0.25 miles from New Hanover Regional Medical Center, with 24,000+ daily vehicles on 16th St.
    • O&I zoning allows for various uses, including restaurants with drive‑thrus, drug stores, and office spaces.
    • Vacant land ideal for development, presenting a strong investment opportunity in a high‑demand area.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    -77.9264311
    Latitude
    34.2128281

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    FAQs

    What type of property is this?
    Hospitality property - Prime Drive-Thru Location, High Traffic Area
    Where is this hospitality property located?
    The property is located at 1916 16Th St Wilmington, NC.
    What is the asking price?
    The asking price for this property is $400,000.
    What are key features of this property?
    This property features: 0.5-acre commercial lot in Wilmington, NC, priced at $400,000.; High-traffic corner location at S. 16th St & Robinhood Rd, offering excellent visibility.; Less than 0.25 miles from New Hanover Regional Medical Center, with 24,000+ daily vehicles on 16th St.
    (910) 279-3227
    Request Owner's contact information
    1916 16Th St Wilmington, NC 28401
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    Wilmington, NC 28401
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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
    1916 16Th St Wilmington, NC 28401
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