505 2Nd St Wilmington, NC 28401
- Hotels
- 7,040 SF
- 0.12 lot acres
Current Use by Public Records
- The Hive / Hotel / Extended Stay Hotel
- Patricia Roseman / Insurance Agency
- The Bridges / Real Estate Developer
Property Details for 505 2Nd St
- Year built
- 1948
- Lot size
- 0.12 lot acres
- Property size
- 7,040 SF
- Zone code
- CBD,CENTRAL BUS DIST
- Property type
- Hotels
- APN
- R04716-007-004-000
- APU
- R04716007004000
Description
This exceptional commercial property, located at 505 N 2nd Street in the vibrant city of Wilmington, North Carolina, presents a unique investment opportunity. Boasting a substantial 10,400 square feet of space on a 0.12-acre lot, this property offers significant potential for a variety of commercial uses. Its prime location in Wilmington provides excellent visibility and accessibility, making it an ideal site for businesses seeking a strong presence in a thriving market. The property's size and layout allow for considerable flexibility in terms of configuration and development, catering to diverse business needs. The asking price of $6,500,000 reflects the property's significant value and potential for future growth. Given its size, location, and versatility, this property is well-suited for a range of commercial ventures, offering a compelling investment opportunity in a desirable North Carolina location. Interested parties are encouraged to explore the possibilities this exceptional property presents. Further details regarding zoning and permitted uses are available upon request. This is a rare opportunity to acquire a substantial commercial property in a dynamic and growing city. The property's substantial size and central location make it an attractive proposition for businesses seeking a prominent presence in Wilmington. Serious inquiries only.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $5,500,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $5,520,000
- 6.5%
- $5,585,000
- 7%
- $5,175,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $5,280,000
- Geo Method
- $5,295,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $5,135,000
- Retail
- $5,325,000
- Mixed-Use
- $5,000,000
- Hospitality
- $6,115,000
- Educational
- $4,475,000
- Residential Income
- $4,390,000
- Energy
- $4,790,000
- Income-Based Land
- $5,075,000
- Food Service
- $5,345,000
Location Insight
- Map
- Local Demand
- City
- Wilmington
- County
- New Hanover
- State
- North Carolina
- Longitude
- -77.9483
- Latitude
- 34.2413
- CBSA code
- 48900
- CBSA name
- WILMINGTON, NC METROPOLITAN STATISTICAL AREA