1201 16Th StWilmington, NC 28401

Property Details for 1201 16Th St

Year built

1994

Construction

STEEL FRAME

Lot size

0.40 AC

Property size (Sq ft)

4,320 SF

Zone code

UMX

Property type

Office buildings

APN

R05415-006-002-000

APU

R05415006002000

Description

This exceptional 1500-square-foot commercial property is ideally situated in the heart of Wilmington, North Carolina. Currently configured as a single-tenant space, it's perfectly suited for a variety of uses, including medical, insurance, legal, or retail businesses. Previously occupied by a speech therapist, the layout includes five well-appointed rooms, a functional kitchen, a full bathroom, and ample storage space. The property's central Wilmington location offers excellent visibility and accessibility, making it an attractive option for businesses seeking a high-traffic area. The space is available for both lease and sale, presenting a flexible opportunity for prospective buyers or tenants. The versatile floor plan allows for easy customization to meet the specific needs of a diverse range of businesses. This is a rare opportunity to acquire a well-maintained, ready-to-occupy commercial space in a thriving Wilmington neighborhood. Its prime location and adaptable layout make it an ideal investment for entrepreneurs and established businesses alike. Serious inquiries are encouraged to explore this exceptional property further.

• CAP approach

  CAP return

  Valuation

  6%

  $1,047,142

  6.5%

  $966,593

  7%

  $897,550

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,143,597

  Geo Method

  $991,613

• Alternative Use

  Use

  Valuation

  Residential

  $1,198,575

  Hospitality

  $1,097,888

  Educational

  $913,430

  Medical

  $944,844

  Retail

  $1,420,891

Location Insight

City

Wilmington

County

New Hanover

State

North Carolina

Latitude

34.2214

Longitude

-77.9267

CBSA code

48900

CBSA name

WILMINGTON, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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