Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    710 N Kerr Ave Wilmington, NC 28403
    Back to Search
    Property profile & analytics

    710 N Kerr Ave Wilmington, NC 28403

    View on Map
    • Commercial real estate
    • 2.11 lot acres
    For Sale
    $2,400,000
    View Listing →
    Prime Corner Land for Sale For Sale
    $2,400,000
    2.11 Acres

    Prime Corner Land for Sale

    2.11 acre hard corner with high traffic and access.

    710 N Kerr Ave, Wilmington, NC
    View Listing
    Property ID
    US53-1882121
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 710 N Kerr Ave

    Lot size
    2.11 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 2.11-acre parcel is strategically located at the northeast intersection of North Kerr Avenue and New Centre Drive in Wilmington, North Carolina, offering significant development potential. Boasting a highly visible hard corner location, the property benefits from approximately 30,000 average daily traffic counts. The site's rectangular shape, with frontage on North Kerr Avenue and New Centre Drive, allows for versatile development options. Potential right-in/right-out access from North Kerr Avenue adds considerable value. Future North Carolina Department of Transportation plans include an overpass at the intersection of North Kerr Avenue and MLK Parkway, positioning this property advantageously as the last intersection before the on and off ramps. Currently zoned R-10-RESIDENTIAL DISTRICT, the property includes existing residential structures, though no value is assigned to these buildings. The site's unique configuration, bordered by three roads (New Centre Drive, North Kerr Avenue, and Marjoram Way), provides exceptional interconnectivity. This makes it suitable for various uses, including gas stations, convenience stores, or a shared-tenant development. A small strip center or office park would also be a viable option, though rezoning would be required. The land is priced at $2,400,000, with a land value of $26.11 per square foot. This prime location offers unparalleled access to the surrounding multifamily residential areas.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.8884649
    Latitude
    34.2505494

    Comparable in this City

    • $1,400,000

      Wilmington Multifamily Investment Portfolio

      Six-unit portfolio near downtown Wilmington, UNCW, and Wrightsville Beach.
      305 Saint Rosea Rd, Wilmington, NC 28405
      View Details
    • $599,000
      2,360 SF

      Wilmington Multifamily Investment Opportunity

      New construction duplex ideal for long-term or short-term rentals.
      1409 N 26Th St, Wilmington, NC 28405
      View Details
    • $719,000
      2,015 SF

      Wilmington Income-Generating Multifamily Property

      Three-unit property near Downtown Wilmington, suitable for various rental strategies.
      2020 Princess Place Dr, Wilmington, NC 28405
      View Details
    • $2,800,000
      Pending

      Multifamily Investment Opportunity in Wilmington

      Multifamily property with income and redevelopment potential in Wilmington, NC.
      407 Maides Ave, Wilmington, NC 28405
      View Details
    • Contact for pricing
      40,000 SF

      Wilmington Industrial Building on College Road

      40,000 SF industrial building on 4.5 acres for sale.
      112 N College Rd, Wilmington, NC 28405
      View Details
    • Contact for pricing

      Wilmington Undeveloped Land Parcel

      87.07 acres of land near Wilmington's commercial and residential growth.
      2441 Princess Place Dr, Wilmington, NC 28405
      View Details

    Similar Nearby for Sale

    • $1,400,000

      Wilmington Multifamily Investment Portfolio

      Six-unit portfolio near downtown Wilmington, UNCW, and Wrightsville Beach.
      305 Saint Rosea Rd, Wilmington, NC 28405
      View Details
    • $599,000
      2,360 SF

      Wilmington Multifamily Investment Opportunity

      New construction duplex ideal for long-term or short-term rentals.
      1409 N 26Th St, Wilmington, NC 28405
      View Details
    • $719,000
      2,015 SF

      Wilmington Income-Generating Multifamily Property

      Three-unit property near Downtown Wilmington, suitable for various rental strategies.
      2020 Princess Place Dr, Wilmington, NC 28405
      View Details
    • $2,800,000
      Pending

      Multifamily Investment Opportunity in Wilmington

      Multifamily property with income and redevelopment potential in Wilmington, NC.
      407 Maides Ave, Wilmington, NC 28405
      View Details
    • Contact for pricing
      40,000 SF

      Wilmington Industrial Building on College Road

      40,000 SF industrial building on 4.5 acres for sale.
      112 N College Rd, Wilmington, NC 28405
      View Details
    • Contact for pricing

      Wilmington Undeveloped Land Parcel

      87.07 acres of land near Wilmington's commercial and residential growth.
      2441 Princess Place Dr, Wilmington, NC 28405
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Commercial Land in Wilmington, NC

      1.03 acres available for lease or sale in Wilmington.
      4505 Market St, Wilmington, NC 28405
      View Details
    • Contact for pricing

      Land for Rent Wilmington, NC

      Land available for rent in Wilmington, North Carolina.
      4505 Market St, Wilmington, NC 28405
      View Details
    • Contact for pricing

      Prime Land in Murrayville, NC

      Two-acre commercial land opportunity near Wilmington MSA.
      5615 Bavarian Ln, Wilmington, NC 28405
      View Details
    • Contact for pricing

      Prime Retail Build-to-Suit Opportunity

      0.63-acre parcel for retail development near Costco and Academy.
      5300 Ringo Dr, Wilmington, NC 28405
      View Details
    • $120,000

      Prime Corner Lot for Lease

      3.06 acre corner lot suitable for various commercial uses.
      2713 Blue Clay Rd, Wilmington, NC 28405
      View Details
    • Contact for pricing

      Renovated Commercial Space Available Now

      Recently renovated commercial suites available in Wrightsboro community.
      3041 N Kerr Ave, Wilmington, NC 28405
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    710 N Kerr Ave
    Wilmington, NC 28403
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    710 N Kerr Ave, Wilmington, NC, 28403
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!