Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • 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
    Property profile & analytics

    13 Wright St Wilmington, NC 28401-5642

    • Office buildings
    • 4,263 SF
    • 2.45 lot acres
    OFF-MARKET
    Value Estimations
    $1,300,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1471952
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office buildings

    Property Details for 13 Wright St

    Year built
    1950
    Construction
    STEEL FRAME
    Lot size
    2.45 lot acres
    Property size
    4,263 SF
    Zone code
    IND
    Property type
    Office buildings
    APN
    R05413-001-001-000
    APU
    R05413001001000

    Description

    This exceptional industrial property at 13 Wright Street in Wilmington, NC, offers a rare opportunity. The property encompasses two buildings totaling 31,250 square feet situated on approximately 2.7 acres. The main warehouse building boasts 27,000 square feet, featuring two dock-high doors, three drive-in doors, a box truck height dock platform, and impressive 30-foot ceilings. Two restrooms are conveniently located within the warehouse. A separate brick office building adds approximately 4,250 square feet of space, offering a mix of private offices and open work areas. The property also includes an expansive laydown yard, perfect for storage or equipment, and ample employee parking. The laydown yard will have compacted stone installed before tenant occupancy. The property is zoned IND (Industrial) by the City of Wilmington and is conveniently located just south of the Cape Fear Memorial Bridge in downtown Wilmington. Available April 1, 2024. This property is ideal for businesses seeking a large, well-equipped warehouse with convenient office space in a prime downtown location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $965,000
      6.5%
      $890,000
      7%
      $825,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,337,000
      Market price range: $351k - $1.34M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,525,000
      Current use
      MEDICAL BUILDING
      $1,385,000
      Change: -9% Conversion: Easy
      WAREHOUSE, STORAGE
      $1,250,000
      Change: -18% Conversion: Difficult
      RETAIL STORES
      $1,240,000
      Change: -19% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.9481
    Latitude
    34.2232
    CBSA code
    48900
    CBSA name
    WILMINGTON, NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $14,720
    $217,000
    $1,525,000
    $1,742,000
    -
    $217,000
    $1,525,000
    $1,742,000

    Comparable in this City

    • Value Estimation
      $7,975,000
      39,948 SF

      272 Frnt St

      OFFICE BUILDING • 39,948 SF
      272 Frnt St, Wilmington, NC 28401-4059
      View Details
    • Value Estimation
      $8,735,000
      39,600 SF

      152 Frnt St

      OFFICE BUILDING • 39,600 SF
      152 Frnt St, Wilmington, NC 28401-4044
      View Details
    • Value Estimation
      $6,335,000
      21,884 SF

      1650 Greenfield St

      OFFICE BUILDING • 21,884 SF
      1650 Greenfield St, Wilmington, NC 28401-6456
      View Details
    • Value Estimation by Request
      620 SF

      1016 2nd St

      OFFICE BUILDING • 620 SF
      1016 2nd St, Wilmington, NC 28401-5606
      View Details
    • Value Estimation
      $17,930,000
      84,760 SF

      20 4th St

      OFFICE BUILDING • 84,760 SF
      20 4th St, Wilmington, NC 28401-4553
      View Details
    • Value Estimation by Request
      456 SF

      206 4th St Ste, Unit 14

      OFFICE BUILDING • 456 SF
      206 4th St Ste, Wilmington, NC 28401-4028
      View Details

    Similar Nearby for Sale

    • $499,900
      3,692 SF

      Spacious Mixed-Use Property on Large Lot

      3-bedroom property with B-1 zoning, ideal for residential or commercial.
      120 Yorktown Dr, Wilmington, NC 28401
      View Details
    • Contact for pricing
      66,164 SF

      Wilmington Medical Office For Sale

      Medical office building in Wilmington's established medical district.
      1202 Medical Center Dr, Wilmington, NC 28401
      View Details
    • Contact for pricing
      7,445 SF

      Turnkey Medical Office For Sale

      Move-in-ready medical facility in a prime location.
      1222 Medical Center Dr, Wilmington, NC 28401
      View Details
    • Contact for pricing

      Downtown Wilmington Historic District Office

      Office space in historic downtown Wilmington, walking distance to amenities.
      411 Chestnut St, Wilmington, NC 28401
      View Details
    • $1,500,000
      0.20 Acres

      Historic Downtown Wilmington Office

      Prime location, 5,000 sq ft, parking.
      101 3Rd St, Wilmington, NC 28401
      View Details
    • Contact for pricing
      2,522 SF

      Medical Space Near Hospital

      2,522 SF medical space in Hospital Plaza Office Park.
      1902-1906 Meeting Ct, Wilmington, NC 28401
      View Details

    Similar Nearby for Lease

    • $31 SF/Yr
      2,729 SF

      Class-A Office Building For Rent

      Class-A office building with on-site parking and recent renovations.
      300 North 3Rd St, Wilmington, NC 28401
      View Details
    • Contact for pricing
      15,822 SF

      Downtown Wilmington Class-A Office Space

      Class-A office building with parking in downtown Wilmington, NC.
      115 North 3Rd St, Wilmington, NC 28401
      View Details
    • $4,700,000
      21,600 SF

      Downtown Wilmington Office Building

      23,750 SF building in downtown Wilmington for lease.
      243 N Front St, Wilmington, NC 28401
      View Details
    • $26 SF/Yr
      26,000 SF

      Class-A Office Space in Wilmington

      Iconic 370,000 SF tower with turnkey office space available.
      929 N Front St, Wilmington, NC 28401
      View Details
    • Contact for pricing
      4,300 SF

      Freestanding Building on 16th Street

      Freestanding building with ample parking and flexible space options.
      1984 S 16Th St, Wilmington, NC 28401
      View Details
    • Contact for pricing
      5,328 SF

      Office Space Near Hospital

      First floor office space available for lease near hospital.
      1960 South 17Th St, Wilmington, NC 28401
      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.
    13 Wright St
    Wilmington, NC 28401-5642
    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.