2033 Corporate Dr, Wilmington, NC 28405-7464
- Office buildings
- 22,880 SF
- 2.19 lot acres
Current Use by Public Records
- Pike Engineering / Corporate Office
- Pharmacy Healthcare Innovations / Pharmacy
- AlphaCM / Medical Billing Service
Property Details for 2033 Corporate Dr
- Year built
- 2007
- Lot size
- 2.19 lot acres
- Zone code
- PD,PLANNED DEVELPMNT
- Property type
- Office buildings
- APN
- R02620-003-024-000
- APU
- R02620003024000
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Nov 4, 2025 | $3,650,000 | Prosperity Road LLC | Corporate Dr 2033 LLC | Special Warranty Deed | $1.1M · Truliant FCU |
| Mar 5, 2024 | — | Corporate Dr 2033 LLC | — | Deed · related | $14.5M · Southern Bank & Trust Co |
| Dec 1, 2022 | — | Pike Engineering LLC | Corporate Dr 2033 LLC | Lease | — |
| Sep 21, 2020 | — | Corporate Dr 2033 LLC | — | Deed · related | $2.3M · First Nat'l Bk/pa |
| Aug 21, 2020 | $3,105,000 | Corporate Dr 2033 LLC | Cerulean LLC | Grant Deed | — |
| Jun 27, 2013 | — | Brp LLC | Internarnational Paper Co | Quit Claim Deed · related | — |
| Apr 4, 2006 | $90,000 | Cerulean LLC | Mars Hill College | Grant Deed | $72k · Suntrust Bank NA |
| Jun 2, 2005 | — | Mars Hill College | Ammons,justus M & Jo E W | Grant Deed · related | — |
| — | — | Cerulean LLC | — | Deed Of Trust · related | $1.6M · Rbc Centura Bank |
| — | — | Cerulean LLC | — | Deed Of Trust · related | $713k · Suntrust Bank NA |
| — | — | Cerulean LLC | — | Deed Of Trust · related | $300k · Rbc Bank (usa) |
| — | — | Cerulean LLC | — | Deed Of Trust · related | $1.2M · Suntrust Bank NA |
| — | — | Corporate Dr 2033 LLC | — | Deed Of Trust · related | $2.3M · First Nat'l Bk/pa |
Description
This exceptional investment opportunity presents a fully leased, 22,893 square foot Class B office building located at 2033 Corporate Drive in Wilmington, North Carolina. The property boasts a strong 7.43% cap rate and a substantial net operating income (NOI) of $263,618, reflecting a current asking price of $3,550,000. Situated in the Northchase Industrial Park, this multi-tenant building offers convenient access to major roadways including I-40 and I-140, as well as Downtown Wilmington and the Wilmington International Airport. Built in 2008, the property features 77 surface parking spaces and is zoned PD - Planned Development District. The 2.19-acre lot is currently 100% occupied by two tenants: Pike Engineering, leasing units 100 and 200, and Pharmacy Healthcare Innovations, occupying unit 201. This prime location, coupled with the strong financial performance and stable tenancy, makes this an attractive investment prospect for discerning buyers seeking a high-return, low-risk opportunity in a thriving market. The property's strategic location near N. College Road and behind Laney High School provides excellent visibility and accessibility. The building's strong occupancy and consistent cash flow make it an ideal addition to any commercial real estate portfolio. The price per square foot is $155.07. The property's location offers easy access to major transportation arteries, enhancing its appeal to both tenants and investors.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $3,450,000
- ML approach
- $2,875,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $5,165,000
- 6.5%
- $4,770,000
- 7%
- $4,430,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $4,393,000
- AI Estimate
- $4,658,000
Market price range: $3.99M - $7.28MMarket price range: $2.50M - $9.20M -
Alternative Use
- Use
- Estimation
- OFFICE BUILDING
- $5,665,000 Current use
- AUTO REPAIR, GARAGE
- $6,530,000 Change: +15% Conversion: Difficult
- RETAIL STORES
- $6,240,000 Change: +10% Conversion: Moderate
- WAREHOUSE, STORAGE
- $5,645,000 Change: -0% Conversion: Difficult
- COMMERCIAL (GENERAL)
- $5,320,000 Change: -6% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- Wilmington
- County
- New Hanover
- State
- North Carolina
- Longitude
- -77.87
- Latitude
- 34.3013
- CBSA code
- 48900
- CBSA name
- WILMINGTON, NC METROPOLITAN STATISTICAL AREA
