Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    805 Pne Grv Dr Dr Wilmington, NC 28403
    Back to Search
    Property profile & analytics

    805 Pne Grv Dr Dr, Wilmington, NC 28403

    View on Map
    • Retail properties & Spaces
    • 46,209 SF
    • 4.67 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 805 Pne Grv Dr Dr

    Lot size
    4.67 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Land

    Description

    This exceptional 4.67-acre commercial property, located at 805 Pine Grove Dr Drive in Wilmington, North Carolina (zip code 28403), presents a significant investment opportunity. The property boasts a substantial 46,209 square feet of retail space, ideally suited for a variety of commercial ventures. Its prime location in the heart of Wilmington ensures high visibility and significant foot traffic, making it an attractive proposition for businesses seeking a strong presence in a thriving market. The site includes 125 designated parking spaces, providing ample convenience for customers and employees. This ensures a positive shopping experience and enhances the overall appeal of the property. A North Carolina Department of Transportation project is anticipated to commence in late 2024, pending funding approval. This development is expected to further enhance the area's accessibility and attractiveness. The asking price for this remarkable property is $7,500,000. This presents a rare chance to acquire a substantial retail space in a dynamic and growing area of Wilmington, North Carolina. The property is classified as both Retail and Land, offering flexibility for potential development and expansion. The property's size and location make it an ideal investment for those seeking a high-impact commercial presence in a bustling North Carolina city.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.8707
    Latitude
    34.2004

    Comparable in this City

    • Value Estimation by Request
      117,346 SF

      815 College Rd

      Retail properties & Spaces
      815 College Rd, Wilmington, NC 28403
      View Details
    • Value Estimation by Request
      0.77 Acres

      2501 Wrightsville Ave

      Land
      2501 Wrightsville Ave, Wilmington, NC 28403
      View Details
    • Value Estimation by Request
      0.55 Acres

      106 Pine Grove Dr

      Land
      106 Pine Grove Dr, Wilmington, NC 28403
      View Details
    • Value Estimation by Request
      261,240 SF

      111 Kerr Ave

      Restaurants
      111 Kerr Ave, Wilmington, NC 28403
      View Details
    • Value Estimation by Request
      5,340 SF

      5523 Oleander Dr

      NURSERY, GREENHOUSE, FLORIST
      5523 Oleander Dr, Wilmington, NC 28403-5813
      View Details
    • Value Estimation by Request

      4401 Oleander Dr

      Retail properties & Spaces
      4401 Oleander Dr, Wilmington, NC 28403
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Restaurant Building with Drive-Through

      Restaurant building with drive-through, updated interior and exterior.
      4023 Market St, Wilmington, NC 28403
      View Details
    • Contact for pricing
      1,405 SF

      Wilmington Commercial Lots with Warehouse

      Two commercial lots with warehouse in Wilmington's Cargo District.
      2113 Wrightsville Ave, Wilmington, NC 28403
      View Details
    • $700,000
      0.77 Acres

      Wilmington Commercial Land Opportunity

      Prime commercial land for sale in Wilmington, North Carolina.
      2501 Wrightsville Ave, Wilmington, NC 28403
      View Details
    • $1,429,000
      0.67 Acres

      Airlie Road Frontage Land

      Land with development potential in Wrightsville Sound neighborhood.
      521 Airlie Rd, Wilmington, NC 28403
      View Details
    • $375,000
      480 SF

      Wilmington Commercial Property - Great Potential

      480 sq ft lot, prime Wilmington location.
      2105 Wrightsville Ave, Wilmington, NC 28403
      View Details

    Similar Nearby for Lease

    • $9,000 /Mo
      35,284 SF

      Wilmington Corner Lot For Lease

      Corner lot in Wilmington, NC, zoned for regional business.
      2726 Shipyard Blvd, Wilmington, NC 28403
      View Details
    • Contact for pricing
      40,000 SF

      Wilmington Land Assemblage For Sale

      6.11 acres with income and redevelopment potential in Wilmington, NC.
      1003 S 17Th St, Wilmington, NC 28403
      View Details
    • Contact for pricing
      7,500 SF

      Retail Space in University Square

      Retail space available in established Wilmington shopping destination.
      806-839 S College Rd, Wilmington, NC 28403
      View Details
    • Contact for pricing
      4,800 SF

      Versatile Flex/Industrial Buildings For Lease

      Two adjoining flex/industrial buildings totaling 7,300 SF for lease.
      20 Covil Ave, Wilmington, NC 28403
      View Details
    • Contact for pricing
      54,662 SF

      Wilmington Retail Opportunity For Lease

      54,662 SF retail building on 8.6 acres available for lease.
      111 Cinema Dr, Wilmington, NC 28403
      View Details
    • Contact for pricing
      4,200 SF

      Retail Space Near UNC-Wilmington

      7,108-SF retail space on 1.51 acres, near Super Walmart.
      6 Van Campen Blvd, Wilmington, NC 28403
      View Details
    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.
    805 Pne Grv Dr Dr
    Wilmington, NC 28403
    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

    Thank You for Inquiry
    805 Pne Grv Dr Dr, Wilmington, NC, 28403
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!