2737 Castle Hayne RdWilmington, NC 28401
- Retail properties
- 2,903 SF
Property Details for 2737 Castle Hayne Rd
- Year built
- 1963
- Construction
- WOOD FRAME
- Lot size
- 0.57 AC
- Property size (Sq ft)
- 2,903 SF
- Zone code
- B-1,BUSINESS DISTRICT
- Property type
- Retail properties
- Property subtype
- Retail space
- APN
- R03311-006-027-000
- APU
- R03311006027000
Description
This exceptional investment opportunity presents a rare chance to acquire a dual-income retail property in Wilmington, North Carolina. Located at 2737 Castle Hayne Rd, this property boasts a total of 6,653 square feet across two buildings situated on a 0.57-acre lot. The property is zoned B-1, allowing for a variety of uses. Built in 1963 and renovated in 1985, the property currently enjoys 100% occupancy. One building is an established auto shop featuring four bays, a small office, and a waiting area; some existing equipment may be included in the sale under separate agreement. The second building operates as a bar. This turnkey investment offers immediate cash flow with the potential for future appreciation. The property's prime location in Wrightsboro, just north of the Food Lion Shopping Center, ensures high visibility and convenient access for customers. The asking price is $1,200,000, translating to $180.37 per square foot. This represents a compelling investment opportunity in a thriving North Carolina market. The property consists of two single-story buildings, offering a combined 6,653 square feet of net rentable space. This is a unique chance to own a well-established, dual-income generating property with significant upside potential. The property's strong location and current occupancy make it an attractive investment for both seasoned and new investors.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $1,034,395
- 6.5%
- $954,826
- 7%
- $886,624
-
Comparable approach
- Method
- Valuation
- Relative Method
- $1,936,586
- Geo Method
- $1,679,214
-
Alternative Use
- Use
- Valuation
- Residential
- $805,431
- Hospitality
- $737,771
- Educational
- $613,817
- Medical
- $634,927
- Retail
- $954,826
Location Insight
- City
- Wilmington
- County
- New Hanover
- State
- North Carolina
- Latitude
- 34.294
- Longitude
- -77.9217
- CBSA code
- 48900
- CBSA name
- WILMINGTON, NC METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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