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

    2411 Castle Hayne Rd Wilmington, NC 28401-2678

    • Auto shops
    • 3,250 SF
    • 2.12 lot acres
    OFF-MARKET
    Value Estimations
    $525,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-0877832
    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

    • CARRAWAY CUSTOM MARINE / (Bike/Boat/Book/etc) Store / Production Facility
    • First Class Glass & Boatworks / (Bike/Boat/Book/etc) Store

    Property Details for 2411 Castle Hayne Rd

    Year built
    1984
    Construction
    STEEL FRAME
    Lot size
    2.12 lot acres
    Property size
    3,250 SF
    Zone code
    B-2,BUSINESS DISTRICT
    Property type
    Auto shops
    APN
    R03315-005-002-000
    APU
    R03315005002000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $350,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $698,000
      Market price range: $226k - $698k

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

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.9229
    Latitude
    34.285
    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
    2023
    $4,897
    $214,100
    $589,100
    $803,200
    -
    $214,100
    $589,100
    $803,200

    Comparable in this City

    • Value Estimation by Request
      380 SF

      2629 Castle Hayne Rd

      AUTO REPAIR, GARAGE • 380 SF
      2629 Castle Hayne Rd, Wilmington, NC 28401
      View Details
    • Value Estimation by Request
      1,080 SF

      1212 5th Ave

      AUTO REPAIR, GARAGE • 1,080 SF
      1212 5th Ave, Wilmington, NC 28401-6258
      View Details
    • Value Estimation
      $1,000,000
      6,000 SF

      228 Carolina Ave

      AUTO REPAIR, GARAGE • 6,000 SF
      228 Carolina Ave, Wilmington, NC 28401-6531
      View Details
    • Value Estimation by Request
      1,256 SF

      1839 Washington St

      AUTO REPAIR, GARAGE • 1,256 SF
      1839 Washington St, Wilmington, NC 28401-6542
      View Details
    • Value Estimation by Request
      2,272 SF

      1740 Burnett Blvd

      AUTO REPAIR, GARAGE • 2,272 SF
      1740 Burnett Blvd, Wilmington, NC 28401-6140
      View Details
    • Value Estimation by Request
      2,000 SF

      2381 Carolina Bch Rd

      AUTO REPAIR, GARAGE • 2,000 SF
      2381 Carolina Bch Rd, Wilmington, NC 28401-7605
      View Details

    Similar Nearby for Sale

    • $499,900
      3,692 SF

      Spacious Mixed-Use Property on Large Lot

      3-bedroom property with B-1 zoning, ideal for residential or commercial.
      120 Yorktown Dr, Wilmington, NC 28401
      View Details
    • $1,195,000
      1,516 SF

      Prime Wilmington Restaurant Opportunity

      Established Restaurant, High-Traffic Location
      1120 Princess St, Wilmington, NC 28401
      View Details
    • Contact for pricing
      5,300 SF

      Freestanding Retail Building For Sale

      Freestanding retail building in Wilmington with high traffic volume.
      808 S 17Th St, Wilmington, NC 28401
      View Details
    • $860,000
      2,034 SF

      End-Cap Retail Space For Sale

      2,034 SF retail space leased through 2031.
      109 Market St, Wilmington, NC 28401
      View Details
    • Contact for pricing
      585 SF

      Downtown Waterfront Retail/Office Opportunity

      Retail or office building on Wilmington's Downtown Waterfront.
      106 N Water St, Wilmington, NC 28401
      View Details
    • Contact for pricing

      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

    Similar Nearby for Lease

    • Contact for pricing
      15,822 SF

      Downtown Wilmington Class-A Office Space

      Class-A office building with parking in downtown Wilmington, NC.
      115 North 3Rd St, Wilmington, NC 28401
      View Details
    • $850 /Mo
      160 SF

      Unique Cargo District Workspace

      Shipping container workspace in Wilmington's vibrant Cargo District.
      708 S 17Th St, Wilmington, NC 28401
      View Details
    • $32 SF/Yr
      1,486 SF

      Downtown Retail Space Available

      Prime retail space suitable for restaurant or coffee shop.
      101 North 3Rd St, Wilmington, NC 28401
      View Details
    • $30 SF/Yr
      1,297 SF

      Turnkey Retail Space in Wilmington

      Move-in-ready retail suite in Wilmington's vibrant waterfront district.
      32 Harnett St, Wilmington, NC 28401
      View Details
    • Contact for pricing
      4,860 SF

      Versatile Space for Lease

      Unique space suitable for retail or food and beverage businesses.
      110 Greenfield St, Wilmington, NC 28401
      View Details
    • Contact for pricing
      1,297 SF

      Turnkey Retail Space in Wilmington

      Second-generation retail space ready for immediate food-service operation.
      901 Nutt St, 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.
    2411 Castle Hayne Rd
    Wilmington, NC 28401-2678
    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!