Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Watercraft Ferry Avenue Wilmington, NC 28412

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

    Commercial waterfront land available for development.

    Type:Land
    Added:
    Nov 17, 2023
    Days on Market:
    889
    Last Refresh:
    Mar 17 at 1:24 pm

    Property Features for Watercraft Ferry Avenue

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Daniel Pellegrino

    Listing agent Daniel Pellegrino License #SC68293

    Listing office Bridge Commercial

    Listing date Nov 17, 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 Bridge Commercial

    Overview

    Waterfront Land Ready for Development

    Commercial waterfront land is available for development. The property is located on Watercraft Ferry Avenue, Wilmington, NC 28412.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Wilmington
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.9157
    Latitude
    34.1367

    Nearby Similar for Sale

    • $325,000

      Prime Midtown Wilmington Land Parcel

      Desirable 0.46-acre lot zoned for office/institutional development.
      2248 Yaupon Drive lot: 3, Wilmington, NC 28401
      View Details
    • $700,000

      Wilmington Commercial Land Opportunity

      Prime commercial land for sale in Wilmington, North Carolina.
      2501 Wrightsville Avenue, Wilmington, NC 28403
      View Details
    • $582,500
      2,867 SF

      Income-Generating Multi-Family Home

      Four-bedroom home with two separate one-bedroom apartments.
      327 Pinecliff Drive, Wilmington, NC 28409
      View Details
    • $4,400,000

      Brooklyn Arts District Land Assemblage

      Rare 0.94-acre multi-parcel in Wilmington's Brooklyn Arts District.
      714 N 4th Street, Wilmington, NC 28401
      View Details
    • $499,000

      Wilmington Redevelopment Opportunity

      Redevelopment opportunity near Downtown Wilmington with existing building.
      2006 Princess Place Drive, Wilmington, NC 28405
      View Details
    • $1,065,000
      3,542 SF

      Turnkey Wilmington Multifamily Investment Opportunity

      Four-unit property near hospital, shopping, and beaches. Fully income-producing.
      1421 -1425 Wellington Avenue, Wilmington, NC 28401
      View Details
    • $695,000
      3,301 SF

      Wilmington Four-Unit Income Property

      Income-producing four-unit property in Wilmington's Historic Mixed-Use District.
      407 Red Cross Street, Wilmington, NC 28401
      View Details
    • $915,000

      Wilmington Commercial Land For Sale

      Commercial property in Community Business District with road frontage.
      4213 Princess Place Drive, Wilmington, NC 28405
      View Details
    • $815,000

      Wilmington Land For Development

      Land available for development in Wilmington, North Carolina.
      1403 S 5th Avenue, Wilmington, NC 28401
      View Details
    • $599,000
      2,360 SF

      Wilmington Multifamily Investment Opportunity

      New construction duplex ideal for long-term or short-term rentals.
      1409 N 26th Street, Wilmington, NC 28405
      View Details
    • $364,000
      1,792 SF

      Downtown Wilmington Duplex Opportunity

      Duplex in high-demand area, ideal for investors or owner-occupants.
      509 Walnut Street, Wilmington, NC 28401
      View Details
    • $298,000

      Prime Wilmington Development Opportunity

      CS-zoned land in Wilmington's growth corridor with development potential.
      2323 Wrightsville Avenue, Wilmington, NC 28403
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial waterfront land available for development.
    Where is this commercial land located?
    The property is located at Watercraft Ferry Avenue Wilmington, NC.
    What are key features of this property?
    This property features: Waterfront location ideal for commercial development; Sites are ready for development; Commercial development opportunity
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Daniel Pellegrino
    Real Estate License ID: SC68293
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!