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    Property profile & analytics
    OFF-MARKET Estimated value $5,500,000
    Hotels

    505 2nd St, Wilmington, NC 28401-3314

    7,040 SF 0.12 ac lot Built 1948
    Entity Owned 2-yr Hold
    Property ID
    US53-2078834
    Property summary
    AI-generated overview

    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.

    Property profile
    Verified
    Property type Hotels
    Use group HOTEL
    Year built 1948
    Total area 7,040 SF
    Lot 0.12 ac (5,140 SF)
    Zoning code CBD,CENTRAL BUS DIST
    APN R04716-007-004-000
    UPID US53-2078834
    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
    • The Hive Hotel & Motel
    • Patricia Roseman Insurance Agency
    • The Bridges Construction Company General Contractor
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    $5.50M
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $4.52M
    Blend (final) Blend
    $5.50M
    Owner & transaction history
    The Hive Wilmington LLC · 2 yrs held
    The Hive Wilmington LLC
    since 2024
    Last sale
    $5.5M
    7 recorded transactions
    2024
    $5.5M
    2010
    2008
    2008
    $850,000
    2008
    2007
    1969
    Zoning & alternative use
    CBD,CENTRAL BUS DIST · Wilmington, NC
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Apartment house (5+ units) $6.7M +55.9%
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