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    7403 Plantation Rd Wilmington, NC 28411
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    Property profile & analytics

    7403 Plantation Rd Wilmington, NC 28411

    View on Map
    • Commercial real estate
    • 9.80 lot acres
    Off-Market
    Property ID
    US53-2087522
    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 7403 Plantation Rd

    Lot size
    9.80 lot acres
    Property type
    Commercial real estate
    APN
    R02800-004-010-000

    Description

    This exceptional 9.8-acre commercial land parcel presents a unique investment opportunity in Wilmington, North Carolina. Located at 7403 Plantation Rd, in New Hanover County (zip code 28411), this property boasts significant development potential. Currently zoned R-15, its highest and best use is projected to be commercial development, driven by planned infrastructure improvements and convenient access. The North Carolina Department of Transportation (NCDOT) has plans for a substantial expansion of Plantation Road, connecting Murrayville Road and Market Street, enhancing accessibility. The Military Cutoff Extension already provides a service road connection to Plantation Road, situated just west of this site. Further supporting commercial development, the New Hanover County Comprehensive Plan designates this property as a Community Mixed Use area. The land is currently wooded and includes an existing residential structure, though no value is assigned to the existing buildings. Utilities are provided by a well and septic system. The asking price for this remarkable property is $2,100,000. The APN is R02800-004-010-000. This is a rare chance to acquire a large tract of land poised for significant growth in a rapidly developing area. Don't miss this opportunity to capitalize on the future of Wilmington's commercial landscape.

    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
    -77.8211732
    Latitude
    34.3028095

    Comparable in this City

    • $630,290

      Porters Neck Wooded Parcel

      5+ acre wooded parcel in developing Porters Neck area.
      308 Plantation Rd, Wilmington, NC 28411
      View Details
    • $1,900,000
      17.84 Acres

      Wilmington Land Ready For Development

      Unimproved land prime for development in Wilmington, North Carolina.
      7500-7516 Plantation Rd, Wilmington, NC 28411
      View Details
    • $350,000
      5.14 Acres

      Undeveloped Wooded Land Parcel

      5.14 acres of undeveloped wooded land in Wilmington, NC.
      366 Greenview Rnch, Wilmington, NC 28411
      View Details
    • $500,000
      0.45 Acres

      Two Homesites in Marsh Landing

      Two adjacent homesites for custom homes in Wilmington, NC.
      660 Vale Dr, Wilmington, NC 28411
      View Details
    • $280,000
      Pending

      Residential Land in Scotts Glen

      0.6 acre lot in Scotts Hill area, Wilmington.
      38 Lot Cedar Find Cv, Wilmington, NC 28411
      View Details
    • New
      $1,600,000
      10.93 Acres

      Prime Land in Growing Area

      Undeveloped 10.93-acre parcel ideal for residential or commercial development.
      lot 222&232 Plantation Rd, Wilmington, NC 28411
      View Details

    Similar Nearby for Sale

    • $630,290

      Porters Neck Wooded Parcel

      5+ acre wooded parcel in developing Porters Neck area.
      308 Plantation Rd, Wilmington, NC 28411
      View Details
    • $350,000
      5.14 Acres

      Undeveloped Wooded Land Parcel

      5.14 acres of undeveloped wooded land in Wilmington, NC.
      366 Greenview Rnch, Wilmington, NC 28411
      View Details
    • $500,000
      0.45 Acres

      Two Homesites in Marsh Landing

      Two adjacent homesites for custom homes in Wilmington, NC.
      660 Vale Dr, Wilmington, NC 28411
      View Details
    • $280,000
      Pending

      Residential Land in Scotts Glen

      0.6 acre lot in Scotts Hill area, Wilmington.
      38 Lot Cedar Find Cv, Wilmington, NC 28411
      View Details
    • $1,900,000
      17.84 Acres

      Wilmington Land Ready For Development

      Unimproved land prime for development in Wilmington, North Carolina.
      7500-7516 Plantation Rd, Wilmington, NC 28411
      View Details
    • New
      $1,600,000
      10.93 Acres

      Prime Land in Growing Area

      Undeveloped 10.93-acre parcel ideal for residential or commercial development.
      lot 222&232 Plantation Rd, Wilmington, NC 28411
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      20.79 Acres on Highway 17

      20.79+/- acre tract with excellent visibility on Hwy 17.
      11471 Us Highway 17, Wilmington, NC 28411
      View Details
    • Contact for pricing

      Land Ground Lease Available

      Land available for ground lease.
      7597 Market St, Wilmington, NC 28411
      View Details
    • Contact for pricing

      Mixed-Use Development: Middle Sound West

      Mixed-use development with office and retail space, available soon.
      7241 Market St, Wilmington, NC 28411
      View Details
    • $28 SF/Yr
      1,650 SF

      Retail Space in Ogden Center

      Retail space available for lease in established shopping center.
      7316 Market St, Wilmington, NC 28411
      View Details
    • $153,672
      6,403 SF

      Porters Neck Commercial Space Available

      6,400+ SF commercial space in rapidly growing Porters Neck.
      155 Porters Neck Rd, Wilmington, NC 28411
      View Details
    • Contact for pricing

      Porters Neck Office Condo

      Premier office building in Wilmington's Porters Neck submarket.
      8115 Market St, Wilmington, NC 28411
      View Details
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    Wilmington, NC 28411
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    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
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