Property profile

602 Red Cross St Wilmington, NC 28401

OFF-MARKET
Gas stations
Property ID
US53-1414241
1,200 SF 0.14 ac lot Built 1954
Individually Owned 1-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

This prime commercial property, located at 602 Red Cross Street in Wilmington's historic north side, offers 1,200 square feet of versatile space in a single-tenant building. Built in 1954, this masonry structure sits on a 0.14-acre corner lot, providing exceptional visibility and accessibility on a high-traffic street. The property features two roll-up bay doors, perfect for loading and unloading, along with a 200 square foot reception/office area and two exterior-access bathrooms. Ample parking is available with 10 spaces on-site. The flexible layout is ideal for adaptive reuse, making it suitable for a variety of businesses, from retail and workshops to studios and boutiques. The zoning is HD-MU. The property's location within the thriving Brooklyn North End redevelopment area offers significant growth potential. This modified gross lease requires the tenant to cover utilities and expenses, while the landlord covers taxes and building insurance. The property is ready for immediate occupancy. The APN is R04813-035-001-000. This is a one-story building with one building on the site.

Property profile

Verified
Property type Gas stations
Use group SERVICE STATION (FULL SERVICE)
Year built 1954
Construction CONCRETE
Total area 1,200 SF
Lot 0.14 ac (6,186 SF)
Zoning code HD-MU
APN R04813-035-001-000
UPID US53-1414241

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

602 Red Cross St Wilmington, NC 28401-3557
Wilmington metro Census 10100 WILMINGTON, NC METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$345k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$255k

Owner & transaction history

since 2025
5 recorded transactions
2025
Price N/A
2019
Price N/A
2019
Price N/A
2019
Price N/A
2014
Price N/A

Zoning & alternative use

HD-MU · Wilmington, NC

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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