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Property profile & analytics

505 2Nd St Wilmington, NC 28401

  • Hotels
  • 7,040 SF
  • 0.12 lot acres
Value Estimation
Last Sale
Jan 31, 2024
$5,500,000
Location Intelligence
Property ID
US53-2078834
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

  • 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

by Realmo proprietary methodology Last update: July 3, 2025
  • 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

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
$8,690
$153,100
$802,200
$955,300
-
$153,100
$802,200
$955,300
More about this property
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