5000 Market St Wilmington, NC 28405
Property profile & analytics
5000 Market St Wilmington, NC 28405
- Strip malls
- 37,860 SF
- 6.33 lot acres
Property ID
US53-1431572
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.
Location Intelligence
Current Use by Public Records
- Miller-Motte College / Training Center / Vocational School
Property Details for 5000 Market St
- Year built
- 1972
- Construction
- WOOD FRAME
- Lot size
- 6.33 lot acres
- Property size
- 37,860 SF
- Zone code
- RB,REGIONAL BUSINESS
- Property type
- Strip malls
- Property subtype
- Shopping centers
- APN
- R04915-002-009-000
- APU
- R04915002009000
Description
This exceptional retail property, located at 5000 Market Street in Wilmington, North Carolina, offers a unique investment opportunity. The 6.33-acre site boasts three buildings totaling 91,637 square feet, situated on a high-traffic corridor averaging 35,000 vehicles daily. Currently, the property features six suites, with 38,549 square feet of vacant space available for lease. The minimum divisible space is 1,931 square feet, while a maximum of 38,549 contiguous square feet is available. This flexible space, previously occupied by Miller-Motte College, a regional technical college, can be leased as-is or converted to a "vanilla box" format to suit larger tenants' needs. The property's prime location on Market Street places it near major retailers such as Costco, Target, Walmart, and Academy Sports, ensuring high visibility and foot traffic. Built in 1972, the single-story buildings offer convenient access and ample space. The property's proximity to I-40, S. Kerr Avenue, and N. College Road further enhances its accessibility and desirability. This is an excellent opportunity to establish a presence in a thriving Wilmington retail market. The property is less than one mile from I-40 and strategically positioned between S. Kerr Ave. and N. College Road. Miller-Motte College, occupying approximately 41,400 square feet, remains a significant tenant on the property.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $7,575,000
- ML approach
- $8,620,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $6,675,000
- 6.5%
- $6,160,000
- 7%
- $5,720,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $9,596,000
Market price range: $5.81M - $12.3M -
Alternative Use
- Use
- Estimation
- NEIGHBORHOOD: SHOPPING CENTER
- $8,355,000 Current use
- MEDICAL BUILDING
- $11,485,000 Change: +37% Conversion: Difficult
- AUTO REPAIR, GARAGE
- $10,810,000 Change: +29% Conversion: Difficult
- RETAIL STORES
- $10,325,000 Change: +24% Conversion: Easy
- OFFICE BUILDING
- $9,375,000 Change: +12% Conversion: Moderate
- WAREHOUSE, STORAGE
- $9,340,000 Change: +12% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Wilmington
- County
- New Hanover
- State
- North Carolina
- Longitude
- -77.8829
- Latitude
- 34.2425
- 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
$60,750
$1,928,400
$5,260,900
$7,189,300
-
$1,928,400
$5,260,900
$7,189,300
