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    FOR SALE
    Hotels

    2929 Market St, Wilmington, NC 28405

    5,106 SF 4.01 ac lot Built 1963
    Entity Owned 6-yr Hold ~ Est. High Equity
    Property ID
    US53-0950826
    Property summary
    AI-generated overview

    This exceptional 4.005-acre commercial land parcel, located at 2929 Market Street in Wilmington, North Carolina, presents a compelling investment opportunity. Boasting 360 feet of high-visibility frontage on Market Street, this property enjoys exposure to over 25,000 vehicles daily, ensuring maximum brand visibility. Its prime location is just two miles from downtown Wilmington and directly adjacent to the desirable Forest Hills neighborhood. The site benefits from excellent transit access via WAVE Transit and proximity to the forthcoming Independence Boulevard Extension, promising enhanced connectivity and reduced traffic congestion. Furthermore, its location along Route 17 places it less than four miles from New Hanover County International Airport, offering convenient access for both employees and customers. Zoned O&I-1, this versatile property is ideally suited for a wide range of commercial developments, including hotels, restaurants, daycare centers, medical offices, or retail and mixed-use projects. The property's APN is 313817.00.0394.000 and is offered at an asking price of $4,500,000. This is a rare chance to acquire a strategically positioned site in a thriving Wilmington market, poised for significant growth and return on investment. The property's central location, high visibility, and flexible zoning make it an attractive proposition for developers seeking a high-impact commercial venture. Don't miss this chance to secure a prime piece of Wilmington real estate.

    Property profile
    Verified
    Property type Hotels
    Use group HOTEL
    Year built 1963
    Construction STEEL & CONCRETE
    Total area 5,106 SF
    Lot 4.01 ac (174,458 SF)
    Zoning code O&I-1
    APN R04913-019-001-000
    UPID US53-0950826
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Azalea Inn & Suites Hotel & Motel
    • America's Best Inn Wilmington Hotel & Motel
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    $1.12M
    CAP Approach CAP
    $805k
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    $1.05M
    Owner & transaction history
    Fenina LLC · 6 yrs held
    Fenina LLC
    since 2020
    Last sale
    $1.0M
    2 recorded transactions
    2020
    $1.0M
    2020
    Zoning & alternative use
    O&I-1 · Wilmington, NC
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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    More about this property
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