Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    211 Wright St Wilmington, NC 28401-5646
    Back to Search
    Property profile & analytics

    211 Wright St, Wilmington, NC 28401-5646

    View on Map
    • Warehouses
    • 72,333 SF
    • 1.20 lot acres
    Off-Market
    Property ID
    US53-0979414
    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.
    Value Estimations
    $9,860,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Pinnacle Storage - Wilmington 3rd Street / Storage Facility
    • U-Haul Neighborhood Dealer / Car Rental Facility

    Property Details for 211 Wright St

    Year built
    2019
    Construction
    CONCRETE
    Lot size
    1.20 lot acres
    Zone code
    UMX
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    R05409-032-002-000
    APU
    R05409032002000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 11, 2023 — Coastal Mini Storage Of Cape Fear L — Deed · related $10.8M · Customers Bank
    Oct 23, 2018 $739,000 Coastal Mini Storage Of Cape Fear Lovitt,dale A & Lorna R Grant Deed $4.1M · First Nat'l Bk/pa
    Mar 31, 2008 — Dale A Lovitt Lovitt,cheryl A Quit Claim Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $12,210,000
      6.5%
      $11,270,000
      7%
      $10,465,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $5,985,000
      Market price range: $2.60M - $11.0M

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

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.9451
    Latitude
    34.2237
    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
    $51,541
    $113,400
    $5,810,800
    $5,924,200
    -
    $113,400
    $5,810,800
    $5,924,200

    Comparable in this City

    • Value Estimation
      $795,000
      5,160 SF

      2515 Carolina Bch Rd

      MINI-WAREHOUSE, STORAGE
      2515 Carolina Bch Rd, Wilmington, NC 28401-7609
      View Details
    • Value Estimation
      $2,725,000
      27,100 SF

      1525 Frnt St

      MINI-WAREHOUSE, STORAGE
      1525 Frnt St, Wilmington, NC 28401-6119
      View Details
    • Value Estimation by Request
      2.03 Acres

      1865 Us Hwy 421st N

      MINI-WAREHOUSE, STORAGE
      1865 Us Hwy 421st N, Wilmington, NC 28401
      View Details
    • Value Estimation
      $11,710,000
      65,100 SF

      1113 17th St

      MINI-WAREHOUSE, STORAGE
      1113 17th St, Wilmington, NC 28401-8025
      View Details
    • Value Estimation
      $2,340,000
      19,500 SF

      2306 23rd St

      MINI-WAREHOUSE, STORAGE
      2306 23rd St, Wilmington, NC 28401-8812
      View Details
    • Value Estimation
      $2,465,000
      23,400 SF

      420 4th St

      MINI-WAREHOUSE, STORAGE
      420 4th St, Wilmington, NC 28401-4011
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      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
    • Contact for pricing
      12,693 SF

      Wilmington Industrial Warehouse Assemblage

      0.94 acre industrial warehouse assemblage in Brooklyn Arts District.
      711 N 5Th Ave, Wilmington, NC 28401
      View Details
    • Contact for pricing
      5,000 SF

      Fully Leased Industrial Portfolio

      Multi-tenant industrial portfolio in Wilmington's growing corridor.
      3240 Us Highway 421 N, Wilmington, NC 28401
      View Details
    • Contact for pricing
      44,841 SF

      Wilmington Mixed-Use Development Opportunity

      1.9-acre commercial property in Opportunity Zone, high-traffic area.
      1315 S 5Th Ave, Wilmington, NC 28401
      View Details
    • Contact for pricing

      Brooklyn Arts District Multi-Parcel Offering

      0.94 acre industrial warehouse assemblage in Wilmington's Brooklyn Arts District.
      711 N 5Th Ave, Wilmington, NC 28401
      View Details
    • $4,400,000
      40,946 SF

      Wilmington Brooklyn Arts District Assemblage

      Rare 0.94-acre multi-parcel in Wilmington's Brooklyn Arts District.
      712 North 4Th St, Wilmington, NC 28401
      View Details

    Similar Nearby for Lease

    • $4 SF/Yr
      70,000 SF

      Wilmington Warehouse Space Available

      Industrial warehouse, 2,500-5,000 sq ft
      1200 Castle Hayne Rd, Wilmington, NC 28401
      View Details
    • Contact for pricing
      2,000 SF

      Downtown Warehouse in Soda Pop District

      Versatile warehouse space in downtown's vibrant Soda Pop District.
      921 Princess St, Wilmington, NC 28401
      View Details
    • Contact for pricing

      Cold Storage Facility with Racking

      288,174 SF cold storage facility with 50' ceilings.
      298 Corporate Dr N, Wilmington, NC 28401
      View Details
    • $12,000 /Mo
      6,118 SF

      Wilmington Industrial Facility with Yard

      Freestanding industrial facility with warehouse, office, and secured yard.
      1501 Marstellar St, Wilmington, NC 28401
      View Details
    • Contact for pricing
      43,658 SF

      Industrial Space Near Interstate 140

      152,887 SF industrial building in Wilmington Trade Center.
      Us Highway 421, Wilmington, NC 28401
      View Details
    • Contact for pricing
      12,000 SF

      New Industrial/Flex Space Available

      New 12,000 SF industrial/flex space for pre-lease in Wilmington.
      311 Metro Cir, 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.
    211 Wright St
    Wilmington, NC 28401-5646
    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

    Thank You for Inquiry
    211 Wright St, Wilmington, NC, 28401
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!