5511 Carolina Beach RdWilmington, NC 28412

Property Details for 5511 Carolina Beach Rd

Year built

2007

Lot size

10.19 AC

Property size (Sq ft)

101,664 SF

Zone code

B-2,BUSINESS DISTRICT

Property type

Outlet malls

APN

R07614-001-011-000

APU

R07614001011000

Description

The Village at Myrtle Grove, located at 5511 Carolina Beach Road in Wilmington, North Carolina (zip code 28412), offers a prime retail opportunity in New Hanover County. This multi-tenant shopping center boasts a total of 74,370 square feet of retail space. Currently, there are 11 available spaces ranging from a minimum of 1,508 square feet to a maximum contiguous space of 4,000 square feet. A significant 28,219 square feet is currently vacant, presenting a unique chance for expansion or new tenancy. The property sits on a lot ranging from 0.484 to 0.746 acres, providing ample space for customer parking and convenient access. The property is classified as a shopping center and is ideal for a variety of retail businesses. Its location in Wilmington, NC offers excellent visibility and accessibility for customers. This is a fantastic opportunity to establish or expand your retail presence in a thriving community. The property is available for lease. Interested parties should inquire for further details and lease terms.

• CAP approach

  CAP return

  Valuation

  6%

  $36,224,832

  6.5%

  $33,438,308

  7%

  $31,049,856

• Comparable approach

  Method

  Valuation

  Relative Method

  $67,819,872

  Geo Method

  $58,806,604

• Alternative Use

  Use

  Valuation

  Residential

  $28,206,464

  Hospitality

  $25,836,968

  Educational

  $21,496,054

  Medical

  $22,235,338

  Retail

  $33,438,308

Location Insight

City

Wilmington

County

New Hanover

State

North Carolina

Latitude

34.1376

Longitude

-77.8913

CBSA code

48900

CBSA name

WILMINGTON, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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