Add Listing
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

    1717 23rd St Wilmington, NC 28405-1821

    • Manufacturing properties
    • 20,650 SF
    • 3.77 lot acres
    OFF-MARKET
    Value Estimations
    $2,160,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1693811
    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

    • Southern Water Conditioning / Big Box & Wholesale Store
    • Turn Key Kitchen and Bath / Renovation Specialist / General Contractor
    • Southern Air Purification / Insurance Agency

    Property Details for 1717 23rd St

    Year built
    1972
    Construction
    STEEL FRAME
    Lot size
    3.77 lot acres
    Property size
    20,650 SF
    Zone code
    AI,AIRPORT INDUSTRIAL
    Property type
    Manufacturing properties
    APN
    R04119-001-001-000
    APU
    R04119001001000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,387,000
      Market price range: $810k - $2.89M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $2,025,000
      Current use
      COMMERCIAL (GENERAL)
      $3,200,000
      Change: +58% Conversion: Difficult
      RETAIL STORES
      $2,640,000
      Change: +30% Conversion: Moderate
      MEDICAL BUILDING
      $1,840,000
      Change: -9% Conversion: Difficult
      RESTAURANT
      $1,820,000
      Change: -10% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,795,000
      Change: -11% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.9207
    Latitude
    34.257
    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
    2024
    $16,647
    $666,400
    $1,247,000
    $1,913,400
    -
    $666,400
    $1,247,000
    $1,913,400

    Comparable in this City

    • Value Estimation by Request

      6713 Netherlands Dr

      Manufacturing properties
      6713 Netherlands Dr, Wilmington, NC 28405
      View Details
    • Value Estimation
      $1,030,000
      10,560 SF

      216 Old Dairy Rd

      LUMBER & WOOD PRODUCT MFG • 10,560 SF
      216 Old Dairy Rd, Wilmington, NC 28405-3770
      View Details
    • Value Estimation by Request
      1,680 SF

      6744 Netherlands Dr

      LUMBER & WOOD PRODUCT MFG • 1,680 SF
      6744 Netherlands Dr, Wilmington, NC 28405-3775
      View Details
    • Value Estimation
      $1,200,000
      24,000 SF

      2957 Kerr Ave

      FACTORY (MANUFACTURING) • 24,000 SF
      2957 Kerr Ave, Wilmington, NC 28405-8678
      View Details
    • Value Estimation
      $520,000
      4,751 SF

      3501 Kerr Ave

      LUMBER & WOOD PRODUCT MFG • 4,751 SF
      3501 Kerr Ave, Wilmington, NC 28405-8690
      View Details
    • Value Estimation
      $2,115,000
      21,978 SF

      1150 23rd St

      LUMBER & WOOD PRODUCT MFG • 21,978 SF
      1150 23rd St, Wilmington, NC 28405-1808
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      40,000 SF

      Wilmington Industrial Building on College Road

      40,000 SF industrial building on 4.5 acres for sale.
      112 N College Rd, Wilmington, NC 28405
      View Details
    • $299,000

      Office/Warehouse Condo For Sale

      Office/warehouse condominium in North Kerr Industrial Park.
      2936 Orville Wright Way, Wilmington, NC 28405
      View Details
    • Contact for pricing

      New Hanover County Industrial Space

      Modern, customizable industrial space for lease in Wilmington, NC.
      1402 N 23Rd St, Wilmington, NC 28405
      View Details
    • $2,600,000
      3,000 SF

      Office/Warehouse Space in Industrial Park

      15,000 SF office/warehouse with four units in Wilmington, NC.
      3205 Kitty Hawk Rd, Wilmington, NC 28405
      View Details
    • $800,000
      8,212 SF

      Wilmington Redevelopment Opportunity

      Two parcels with existing buildings in a desirable location.
      2006/2010 Princess Place Dr, Wilmington, NC 28405
      View Details
    • $210,000
      972 SF

      Wilmington Office Space - Great Buy!

      972 sq ft Office, Prime Location, $210,000
      108 Kerr Ave, Wilmington, NC 28405
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Renovated Industrial Building with Yard

      Single-tenant industrial building with laydown yard, available August 2025.
      2020 Capital Dr, Wilmington, NC 28405
      View Details
    • Contact for pricing

      Wilmington Industrial Space Available

      28,390± SF industrial space for lease in Wilmington, NC.
      1519 North 23Rd St, Wilmington, NC 28405
      View Details
    • Contact for pricing
      7,990 SF

      Industrial Flex Space For Lease

      Flex space in NorthChase Industrial Park with easy highway access.
      4533 Technology Dr, Wilmington, NC 28405
      View Details
    • Contact for pricing
      58,005 SF

      Wilmington Commercial Space For Lease

      Up to 58,005 SF available in high-traffic Wilmington corridor.
      5744 Market St, Wilmington, NC 28405
      View Details
    • Contact for pricing

      Industrial Space Available For Rent

      Industrial space available, ranging from 5,400 to 7,100 SqFt.
      6508 Windmill Way, Wilmington, NC 28405
      View Details
    • Contact for pricing

      Industrial Space For Lease

      28,390± SF industrial space available in Wilmington, North Carolina.
      1519 N 23Rd St, Wilmington, NC 28405
      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.
    1717 23rd St
    Wilmington, NC 28405-1821
    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!