Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Watercraft Fry Ave Wilmington, NC 28412
    Back to Search
    Property profile & analytics

    Watercraft Fry Ave Wilmington, NC 28412

    View on Map
    • Land
    • 0.22 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Watercraft Fry Ave

    Lot size
    0.22 lot acres
    Property type
    Land

    Description

    Exceptional opportunity to acquire prime commercial land within Riverlights, a thriving 1,400-acre master-planned mixed-use development in Wilmington, North Carolina. These waterfront sites, situated on the Cape Fear River, offer .22 to .28 acres of land, priced at $1,400 per acre. The property boasts a coveted location within a community projected to encompass approximately 3,000 residential units upon completion, providing a substantial existing and future customer base. With over 14,000 residences already within a 3-mile radius, this location offers immediate access to a large consumer market. Enjoy the benefits of approximately 12 miles of Cape Fear River frontage, adding significant appeal and potential for various commercial ventures. The property's strategic location provides convenient access to downtown Wilmington (within 15 minutes) and the beach (also within 15 minutes), a highly desirable area recently ranked No. 2 by USA Today's Reader Choice. The average sale price of single-family homes within Riverlights is $595,000, indicating a strong and affluent residential community. This presents a unique chance to establish a successful commercial enterprise in a rapidly growing and highly sought-after location. The land is zoned for mixed-use development, allowing for a wide range of commercial possibilities.

    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
    -77.9423
    Latitude
    34.1516

    Comparable in this City

    • Value Estimation by Request
      0.92 Acres

      River Rd

      Land • 0.92 Acres
      0 River Rd, Wilmington, NC 28412
      View Details
    • Value Estimation by Request
      1.87 Acres

      4456 Fairview Dr

      Land • 1.87 Acres
      4456 Fairview Dr, Wilmington, NC 28412
      View Details
    • Value Estimation by Request

      5012 Carolina Beach Rd

      Land
      5012 Carolina Beach Rd, Wilmington, NC 28412
      View Details
    • Value Estimation by Request

      2410 Southhall Dr

      Land
      2410 Southhall Dr, Wilmington, NC 28412
      View Details
    • Value Estimation by Request
      1,040 SF

      5202 Carolina Beach Rd

      Distribution properties • 1,040 SF
      5202 Carolina Beach Rd, Wilmington, NC 28412
      View Details
    • Value Estimation by Request
      2.42 Acres

      604-608 Shipyard Blvd

      Land • 2.42 Acres
      604-608 Shipyard Blvd, Wilmington, NC 28412
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1.13 Acres

      Riverlights Commercial Land Opportunity

      Prime Wilmington waterfront lots for sale.
      0 Watercraft Fry Ave, Wilmington, NC 28412
      View Details
    • Contact for pricing
      0.92 Acres

      Lake Oswego Executive Office Suites

      Class A Office Space, Downtown Lake Oswego
      0 River Rd, Wilmington, NC 28412
      View Details
    • Contact for pricing

      Land For Sale Wilmington

      Land available for sale in Wilmington, North Carolina.
      7171 Carolina Beach Rd, Wilmington, NC 28412
      View Details
    • Contact for pricing
      100,000 SF

      Riverfront Mixed-Use Development Opportunity

      Infill mixed-use development opportunity in Wilmington, North Carolina.
      Watercraft Fry Ave, Wilmington, NC 28412
      View Details
    • Contact for pricing

      Retail or Office Development Site

      1.87 acre site ideal for retail or office development.
      4456 Fairview Dr, Wilmington, NC 28412
      View Details
    • $359,000
      Pending

      Waterfront Lot in Wilmington Community

      Waterfront lot in Wilmington, NC, with proposed community amenities.
      7171 Carolina Beach Rd, Wilmington, NC 28412
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Industrial Laydown Yard For Lease

      5.8 acres of industrial land for lease near Wilmington Port.
      800 Sunnyvale Dr, Wilmington, NC 28412
      View Details
    • Contact for pricing

      Industrially Zoned Land Near Port

      Two contiguous parcels near Wilmington Port available for development.
      140 Bryan Rd, Wilmington, NC 28412
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail property available for lease on Carolina Beach Road.
      5511 Carolina Beach Rd, Wilmington, NC 28412
      View Details
    • Contact for pricing

      Commercial Space for Lease

      Commercial space available for lease in Wilmington, North Carolina.
      187 Raleigh St, Wilmington, NC 28412
      View Details
    • Contact for pricing

      Medical Office Building For Sale

      4,886 SF medical office building on 1.36 acres.
      5245 South College Rd, Wilmington, NC 28412
      View Details
    • Contact for pricing
      3,211 SF

      Retail Space in Myrtle Grove

      Community shopping center with retail space for lease.
      5619 Carolina Beach Rd, Wilmington, NC 28412
      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.
    Watercraft Fry Ave
    Wilmington, NC 28412
    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
    Watercraft Fry Ave, Wilmington, NC, 28412
    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!