Property profile

1315 5th Ave Wilmington, NC 28401

OFF-MARKET
Warehouses
Property ID
US53-2132712
43,043 SF 1.9 ac lot Built 1951
Entity Owned 5-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

This exceptional commercial property located at 1315 S 5th Avenue in Wilmington, North Carolina, presents a significant investment opportunity. Boasting a substantial 44,841 square feet of space, this property sits on a generous 1.9-acre lot, offering ample room for expansion or outdoor operations. The building's versatile design makes it suitable for a wide range of industrial uses, from warehousing and distribution to light manufacturing or specialized workshops. Its strategic location in Wilmington provides easy access to major transportation routes, ensuring efficient logistics and convenient commutes for employees and clients. The property's size and location combine to create a compelling proposition for businesses seeking to establish or expand their operations in a thriving market. The asking price of $2,370,000 reflects the significant value and potential this property offers. Serious inquiries are encouraged to explore the possibilities and secure this prime commercial real estate asset. Further details and site visits can be arranged upon request. This is a rare opportunity to acquire a substantial industrial property in a desirable location.

Property profile

Verified
Property type Warehouses
Use group WAREHOUSE, STORAGE
Year built 1951
Construction CONCRETE
Total area 43,043 SF
Lot 1.9 ac (82,808 SF)
Zoning code UMX
APN R05413-040-002-000
UPID US53-2132712

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Restaurant

Location

1315 5th Ave Wilmington, NC 28401-6261
Wilmington metro Census 11100 WILMINGTON, NC METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$1.08M
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.54M
Blend (final) Blend
$1.31M

Owner & transaction history

since 2021
Last sale
$1.6M
5 recorded transactions
2021
Price N/A
2021
$460,000
2011
$230,000
2009
Price N/A
1969
Price N/A

Zoning & alternative use

UMX · Wilmington, NC
Zoning description

ustrial District. Sec. 18-200. - AI, Airport Industrial District. Sec. 18-201. - CEM, Cemetery District. Sec. 18-202. - RFMU, Riverfront Mixed Use District. Sec. 18-203. - RO, Residential Office District. Sec. 18-204. -…

General category MIXED_USE

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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