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    Property profile & analytics
    OFF-MARKET Estimated value $10,105,000
    Warehouses

    802 23rd St, Wilmington, NC 28405-1802

    212,000 SF 13.18 ac lot Built 1981
    Entity Owned Absentee Owner ~ Est. High Equity
    Property ID
    US53-5798803
    Property summary
    AI-generated overview

    This exceptional industrial property, located at 802 N 23rd Street in Wilmington, NC, offers a rare opportunity for owner-occupancy or leasing. The single-story, 214,427-square-foot warehouse/distribution facility sits on a 13.1-acre lot and was built in 1981. Currently, 71,244 square feet are available for immediate occupancy, with an additional 143,183 square feet becoming available July 1, 2025. The property features four loading docks with four dock-high doors and one drive-in door. It boasts a full fire suppression system and is conveniently located near major transportation arteries, including Market Street/US Highway 17, MLK Jr. Parkway, and Wilmington International Airport (ILM). The property is zoned LI and has an APN of 3128-63-8186.000. The building offers existing office space of 2,402 square feet, with conceptual plans for an additional 1,950 square feet of office space. This rail-served facility presents a significant opportunity for businesses seeking substantial warehouse space in a prime Wilmington location. The property is available for sale at $16,950,000 or for lease at $5.95 per square foot NNN (TICAM estimated at $1.10 per square foot). Minimum divisible space is 71,244 square feet, with a maximum contiguous space of 214,427 square feet.

    Property profile
    Verified
    Property type Warehouses
    Use group WAREHOUSE, STORAGE
    Year built 1981
    Construction STEEL FRAME
    Total area 212,000 SF
    Lot 13.18 ac (574,208 SF)
    Zoning code AI,AIRPORT INDUSTRIAL
    APN R04811-002-001-001
    UPID US53-5798803
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • MCO Distribution & Logistics Storage Facility
    • MCO Transport Inc Freight Service Logistics Company
    • Coastal Reuse Center Home Decor Store Department Store
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    $11.22M
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $7.55M
    Blend (final) Blend
    $10.11M
    Owner & transaction history
    Recision 3pl LLC
    Recision 3pl LLC
    since 2025
    7 recorded transactions
    2025
    2022
    2022
    $9.4M
    2020
    2005
    $3.2M
    1969
    1969
    Zoning & alternative use
    AI,AIRPORT INDUSTRIAL · Wilmington, NC
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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