5019 New Centre dr - Office FOR SALE


Wilmington, NC 28403
$6,900,000 USD
910-256-4503
5019 New Centre dr, Wilmington, NC for Sale
$6,900,000 USD
Office - FOR SALE
1/10
null | Request Cap Rate

5019 New Centre dr
Wilmington, NC 28403


HIGHLIGHTS

  • Class A corridor in a location that is very hard to find any good Real Estate.
  • Very well-maintained building in a prime corridor in the emerging market of Wilmington. A wonderful value add opportunity.

OVERVIEW

Presenting a rare opportunity to acquire a well-maintained, two-story Class B office building totaling approximately 31,000 square feet with 8.4-foot ceilings. Situated on 2.19 acres with 110 parking spaces and potential for more, the property is strategically located between College Road (I-40) and Market Street, in a high-traffic corridor surrounded by retail, restaurants, and ongoing commercial development in the fast-growing Wilmington, NC market. This is a value-added opportunity. The current owner has only rented to non-profits to give back to the community. They are all on short-term leases, and rents can be raised to market value. Originally built in 1978 and extensively renovated in 2019, the building has been updated with modern infrastructure. It features fiber optic cable throughout, “iWave” cold plasma generators installed in all 13 rooftop HVAC units, and new LED lighting throughout the interior. The parking lot has been partially repaved, further improving the building’s functionality and curb appeal. The property is currently occupied by a stable mix of tenants, many of whom have been leasing in the building for decades. Most are on renewable one-year leases, offering the flexibility to either increase rents to current market rates or reposition the asset for redevelopment. An additional 1-acre parcel with 285 feet of road frontage is also available for separate purchase at $1,000,000, providing an excellent opportunity for expansion or a complementary development. This is a confidential listing. Please do not disturb tenants. All inquiries and showing requests must be directed to the listing agents. Members-only remarks This is a confidential listing. Please sign and return the attached Confidentiality Agreement for more info on this listing. All inquiries and showing requests must be directed to the listing agents.

FOR SALE DETAILS

PRICE

$6,900,000 USD

PRICE/SF

$217 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

ADD'L SUBTYPES

Medical, Telecom Hotel/Data Hosting, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1978

SPRINKLERS

-

PARKING SPACES

110

LAND DETAILS

LAND ACRES

2.19 AC

LAND SF

95,396 SF

ZONING

RB

APN/PARCEL ID

R04916-001-006-001

ASK ABOUT THIS PROPERTY

Marcello CalivaIntracoastal Realty CorporationMore Info
910-256-4503

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Marcello CalivaIntracoastal Realty CorporationMore Info
910-256-4503

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.