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    111 Kerr Ave Wilmington, NC 28403

    Sponsored
    For Lease
    $20 SF/Yr

    Prime Wilmington retail/office space, flexible layouts.

    Lot size:
    261,240 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional Class A commercial property in Wilmington, NC, offers a unique opportunity for businesses seeking flexible and adaptable space. Located at 111 S Kerr Ave, at the corner of North Kerr and Franklin Avenues, this 261,240 square foot building boasts 5,000 square feet of immediately available space, divisible into units ranging from 1,500 to 5,000 contiguous square feet. The property features a total of 458 parking spaces, and sits on a 9.29-acre lot (APN: R04919-001-008-000) within New Hanover County, zoned O & I -1 Office & Institution. Built in 2019, this four-story building is part of a larger development, surrounded by 445 residential units, creating a built-in customer base. The high-traffic location sees over 23,000 cars daily, and serves a population of over 53,000 residents within a three-mile radius. The space is currently in shell condition, allowing for complete customization to suit tenant needs. Various sizing options are available before final wall installation. This is an ideal location for a variety of retail, office, or mixed-use businesses seeking high visibility and a strong customer base. The property includes three total suites within the building.

    Property Features for 111 Kerr Ave

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    261,240 SF
    Class
    A
    Total Rate
    435400

    Building Details

    Year Built
    2019
    Buildings
    10
    Stories
    4

    Unit(s) available at that property

    Space
    Available Space 1
    Size
    5,000 SF
    Rate per SF
    $20
    Property Profile Location Intelligence

    Current Use by Public Records

    Coworking space

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply

    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
    -77.889078347367
    Latitude
    34.23900825513

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    FAQs

    What type of property is this?
    Restaurant - Prime Wilmington retail/office space, flexible layouts.
    Where is this restaurant located?
    The property is located at 111 Kerr Ave Wilmington, NC.
    What is the lease rate?
    The lease rate is $20 SF/Yr.
    Request Owner's contact information
    111 Kerr Ave Wilmington, NC 28403
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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
    111 Kerr Ave Wilmington, NC 28403
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