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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    340 Metro Cir Wilmington, NC 28401

    • Commercial real estate
    • 2.00 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1765579
    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

    • Commercial real estate

    Property Details for 340 Metro Cir

    Lot size
    2.00 lot acres
    Property type
    Commercial real estate
    APN
    R03200-002-031-000

    Description

    This exceptional investment opportunity presents 2± acres of industrial land in Wilmington, North Carolina, ideally situated at 340 Metro Cir, 28401. The property, identified by APN R03200-002-031-000, is zoned I-2 within New Hanover County and boasts a prime location near the US Hwy 421 and I-140 interchange, ensuring excellent accessibility. Currently leased to Mobile Mini Storage Containers, the lease agreement is set to expire June 30, 2028, leaving a remaining term of approximately 3.6 years. The property features a stone laydown yard and is fully fenced, adding to its functionality and security. This land offers a compelling investment prospect with a pro-forma cap rate of 6.50% and an asking price of $650,000. Please note that the tenant should not be disturbed. This is a rare opportunity to acquire a well-located, income-producing industrial land parcel in a thriving market. All information is deemed reliable but not guaranteed.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.978226289448
    Latitude
    34.289095007468

    Comparable in this City

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      Wilmington Land Assemblage For Sale

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      Wilmington Industrial Riverfront Property

      28 Acres, 24,896 SF Warehouse, Vacant
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    • $4,950,000
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      Fully Leased Industrial Portfolio

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      3240 Us Highway 421 N, Wilmington, NC 28401
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    • $995,000

      Commercial Lots on Carolina Beach

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    Similar Nearby for Sale

    • $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
      28.24 Acres

      Wilmington Industrial Riverfront Property

      28 Acres, 24,896 SF Warehouse, Vacant
      1233 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
    • $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
    • $995,000

      Commercial Lots on Carolina Beach

      Four commercial lots ideal for development near downtown Wilmington.
      1939 Washington St, Wilmington, NC 28401
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    Similar Nearby for Lease

    • $4 SF/Yr
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      Wilmington Warehouse Space Available

      Industrial warehouse, 2,500-5,000 sq ft
      1200 Castle Hayne Rd, Wilmington, NC 28401
      View Details
    • $15 SF/Yr
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      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
    • $11 SF/Yr
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      Downtown Warehouse in Soda Pop District

      Versatile warehouse space in downtown's vibrant Soda Pop District.
      921 Princess St, Wilmington, NC 28401
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    • $16 SF/Yr
      91,500 SF

      Wrightsboro Business Park Flex Space

      Flex space in Wilmington, NC, with office and warehouse components.
      2704 Castle Hayne Rd, Wilmington, NC 28401
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    • $8 SF/Yr
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      Bottle Works Building: Wilmington, NC

      Historic building, mixed-use spaces, prime location.
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    • $14 SF/Yr
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      New Wilmington Industrial Space Available

      Newly constructed industrial space with highway access and ample storage.
      1701 N 5Th Ave, Wilmington, NC 28401
      View Details
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    340 Metro Cir
    Wilmington, NC 28401
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    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
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