7131 Market St Wilmington, NC 28411-9731
Property profile & analytics
7131 Market St Wilmington, NC 28411-9731
- Day care centers
- 11,957 SF
- 1.67 lot acres
Property ID
US53-1180567
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.
Location Intelligence
Current Use by Public Records
- Cadence Academy Preschool / Daycare Center
- B School / High School
Property Details for 7131 Market St
- Year built
- 2005
- Construction
- WOOD FRAME
- Lot size
- 1.67 lot acres
- Property size
- 11,957 SF
- Zone code
- B-2,BUSINESS DISTRICT
- Property type
- Day care centers
- APN
- R04400-002-042-000
- APU
- R04400002042000
Description
This exceptional investment opportunity presents a 12,355-square-foot daycare center in Wilmington, NC, at 7131 Market Street, zip code 28411. The property, built in 2005 and situated on a 1.67-acre lot, is 100% occupied by Cadence Academy Preschool, a prominent national childcare provider with over 30 years of experience and more than 300 locations. The current lease, a triple-net (NNN) agreement, commenced December 2, 2005, and expires December 31, 2034, leaving approximately 10.1 years remaining. The lease includes a favorable 2% annual rent escalation, ensuring consistent income growth. The current annual rent is $25.22 per square foot, totaling $324,212 in net operating income (NOI), representing a 6.00% cap rate on the asking price of $5,403,534. The tenant is backed by a corporate guarantee, mitigating risk. The property boasts a prime location off Highway 17, offering high visibility and convenient access to Wilmington International Airport (within 15 minutes). Strong demographics further enhance the investment's appeal, with an average household income of $92,319 and a population of 44,108 within a 3-mile radius. Nearby amenities include major retailers like Publix, Costco, Target, and Walmart, as well as several elementary schools. This presents a stable, high-yield investment with significant long-term potential in a desirable location. The property's price per square foot is $437.36. There are no lease options at the end of the current term.
Value Estimations
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CAP approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Wilmington
- County
- New Hanover
- State
- North Carolina
- Longitude
- -77.8205
- Latitude
- 34.2716
- 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
$3,456
$583,100
$1,980,700
$2,563,800
-
$583,100
$1,980,700
$2,563,800
