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1505 Medical Center Dr 1,500 SF Office Building Wilmington, NC 28401 $450,000 ($300/SF) 6.70% Cap Rate
Executive Summary
Located in a well-positioned commercial corridor of Wilmington, 1505 Medical Center Dr presents a strong investment opportunity with an established long-term tenant already in place. The property is currently leased to Edward Jones – Financial Advisor under a GM lease structure through February 2030, providing steady cash flow with scheduled 3% annual rent increases and a current net income of $30,135.60. Zoned O&I, this asset offers stability with a nationally recognized tenant, a reported 6.5% cap rate, and an additional renewal option in place, making it an attractive option for investors seeking dependable income in a desirable Wilmington location. Buyer to verify lease terms, income figures, and all due diligence items upon review of the lease agreement. Assignment of Contract.
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
1,500 SF
Building Class
C
Year Built
1983
Price
$450,000
Price Per SF
$300
Cap Rate
6.70%
NOI
$30,136
Tenancy
Single
Building Height
1 Story
Typical Floor Size
1,500 SF
Building FAR
0.07
Lot Size
0.46 AC
Zoning
O&I
Amenities
- Signage
1 1
Moderately walkable
60/100
Moderately drivable
70/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | R06011-002-010-001 | Improvements Assessment | $137,600 |
| Land Assessment | $337,000 | Total Assessment | $474,600 |
Property Taxes
Parcel Number
R06011-002-010-001
Land Assessment
$337,000
Improvements Assessment
$137,600
Total Assessment
$474,600
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Presented by
Prosper Real Estate
1505 Medical Center Dr
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