505 2Nd StWilmington, NC 28401

Property Details for 505 2Nd St

Year built

1948

Lot size

0.12 AC

Property size (Sq ft)

7,040 SF

Zone code

CBD,CENTRAL BUS DIST

Property type

Hotels

APN

R04716-007-004-000

APU

R04716007004000

Description

This exceptional commercial property, located at 505 N 2nd Street in the vibrant city of Wilmington, North Carolina, presents a unique investment opportunity. Boasting a substantial 10,400 square feet of space on a 0.12-acre lot, this property offers significant potential for a variety of commercial uses. Its prime location in Wilmington provides excellent visibility and accessibility, making it an ideal site for businesses seeking a strong presence in a thriving market. The property's size and layout allow for considerable flexibility in terms of configuration and development, catering to diverse business needs. The asking price of $6,500,000 reflects the property's significant value and potential for future growth. Given its size, location, and versatility, this property is well-suited for a range of commercial ventures, offering a compelling investment opportunity in a desirable North Carolina location. Interested parties are encouraged to explore the possibilities this exceptional property presents. Further details regarding zoning and permitted uses are available upon request. This is a rare opportunity to acquire a substantial commercial property in a dynamic and growing city. The property's substantial size and central location make it an attractive proposition for businesses seeking a prominent presence in Wilmington. Serious inquiries only.

• CAP approach

  CAP return

  Valuation

  6%

  $1,938,247

  6.5%

  $1,789,151

  7%

  $1,661,355

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,379,552

  Geo Method

  $3,797,510

• Alternative Use

  Use

  Valuation

  Residential

  $1,953,233

  Hospitality

  $1,789,151

  Educational

  $1,488,553

  Medical

  $1,539,746

  Retail

  $2,315,526

Location Insight

City

Wilmington

County

New Hanover

State

North Carolina

Latitude

34.2413

Longitude

-77.9483

CBSA code

48900

CBSA name

WILMINGTON, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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