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

    2 Wright St Wilmington, NC 28401

    • Industrial properties
    • 3.60 lot acres
    OFF-MARKET
    Value Estimations
    $360,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1947662
    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

    • Industrial properties

    Property Details for 2 Wright St

    Lot size
    3.60 lot acres
    Zone code
    IND
    Property type
    Industrial properties
    APN
    R05316-001-002-000
    APU
    R05316001002000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $360,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.95
    Latitude
    34.2227
    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
    $4,860
    $323,700
    $234,900
    $558,600
    -
    $323,700
    $234,900
    $558,600

    Comparable in this City

    • Value Estimation by Request
      30,000 SF

      353 Acme Way

      Distribution properties • 30,000 SF
      353 Acme Way, Wilmington, NC 28401
      View Details
    • Value Estimation by Request
      19,800 SF

      4274 Us-421

      Distribution properties • 19,800 SF
      4274 Us-421, Wilmington, NC 28401
      View Details
    • Value Estimation
      $700,000
      29,322 SF

      1301 13th St

      CONDOMINIUMS (INDUSTRIAL) • 29,322 SF
      1301 13th St, Wilmington, NC 28401-6404
      View Details
    • Value Estimation
      $765,000
      20,790 SF

      4280 Us Hwy 421st N

      INDUSTRIAL (GENERAL) • 20,790 SF
      4280 Us Hwy 421st N, Wilmington, NC 28401-9069
      View Details
    • Value Estimation
      $1,330,000
      66,274 SF

      3700 Us Hwy 421st N

      INDUSTRIAL (GENERAL) • 66,274 SF
      3700 Us Hwy 421st N, Wilmington, NC 28401-9022
      View Details
    • Value Estimation by Request
      115,000 SF

      2820 Us-421

      Life science properties • 115,000 SF
      2820 Us-421, Wilmington, NC 28401
      View Details

    Similar Nearby for Sale

    • $2,195,000
      28.24 Acres

      Wilmington Industrial Riverfront Property

      28 Acres, 24,896 SF Warehouse, Vacant
      1233 Castle Hayne Rd, Wilmington, NC 28401
      View Details
    • $4,950,000
      25,000 SF

      Fully Leased Industrial Portfolio

      Multi-tenant industrial portfolio in Wilmington's growing corridor.
      3240 Us Highway 421 N, Wilmington, NC 28401
      View Details
    • $690,000
      2.17 Acres

      Wilmington Land Zoned CZD B-2

      2+ acre lot zoned for flex commercial business space.
      2117 Castle Hayne Rd, Wilmington, NC 28401
      View Details
    • $2,195,000
      12,500 SF

      Riverfront Warehouse on Large Parcel

      Warehouse on 28.24 acres near downtown Wilmington.
      1233 Castle Hayne Rd, Wilmington, NC 28401
      View Details
    • $10,500,000

      Wilmington Land Assemblage For Sale

      6.11 acres with income and redevelopment potential in Wilmington, NC.
      1003 S 17Th St, Wilmington, NC 28401
      View Details
    • $400,000
      0.50 Acres

      Wilmington Hospitality Property - $400K

      Prime Drive-Thru Location, High Traffic Area
      1916 16Th St, Wilmington, NC 28401
      View Details

    Similar Nearby for Lease

    • $8 SF/Yr
      102,419 SF

      Bottle Works Building: Wilmington, NC

      Historic building, mixed-use spaces, prime location.
      921 Princess St, Wilmington, NC 28401
      View Details
    • $14 SF/Yr
      8,660 SF

      New Wilmington Industrial Space Available

      Newly constructed industrial space with highway access and ample storage.
      1701 N 5Th Ave, Wilmington, NC 28401
      View Details
    • $9 SF/Yr
      30,000 SF

      Pender Commerce Park Warehouse

      30,000 SF Warehouse Space Available
      353 Acme Way, Wilmington, NC 28401
      View Details
    • Contact for pricing
      288,174 SF

      Cold Storage Facility Sublease Available

      288,174 SF cold storage facility with 50' clear ceilings.
      298 Corporate Dr N, Wilmington, NC 28401
      View Details
    • Contact for pricing
      8,301 SF

      Rare City Block for Lease

      City block near downtown Wilmington with two brick buildings.
      1507 Greenfield St, Wilmington, NC 28401
      View Details
    • $9 SF/Yr
      9,000 SF

      New Industrial Space at The Yard

      9,000-18,000 SF industrial space for lease in Wilmington, NC.
      2820 Us Highway 421, 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.
    2 Wright St
    Wilmington, NC 28401
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.