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8232 Market St 7,922 SF Retail Building Wilmington, NC 28411 $4,200,000 ($530.17/SF) 4.50% Cap Rate
Investment Highlights
- Comprehensive 2024 renovation completed throughout the property.
- Located near Interstate 140 and major national retailers.
- B-1 zoning supports a variety of commercial uses.
- Existing drive-thru infrastructure supports multiple business types.
- Includes 61 parking spaces and prominent roadside signage.
Executive Summary
8232 Market Street offers the opportunity to acquire a freestanding commercial property positioned within Wilmington's Porters Neck corridor, one of the region's most established retail and service districts. Situated on approximately 1.43 acres with 150 feet of frontage along Market Street, the property benefits from visibility to more than 43,000 vehicles per day and convenient access to Interstate 140, connecting the site to Wilmington, Hampstead, and the broader Cape Fear region. Nearby national retailers, including Walmart, Harris Teeter, Lowe's Home Improvement, and Food Lion, contribute to consistent consumer traffic and reinforce the corridor's role as a regional commercial destination.
The approximately 7,922-square-foot building underwent a comprehensive renovation in 2024 and includes numerous improvements already in place for a future owner. Existing infrastructure includes a drive-thru, large commercial kitchen, municipal water and sewer service, natural gas, grease trap, loading access, outdoor patio space, marquee signage, and 61 parking spaces. These features provide operational flexibility while reducing the capital expenditures often associated with repositioning or opening a new commercial facility.
While currently configured for food service, the property's layout, parking capacity, visibility, and B-1 zoning support a broad range of potential uses. Medical and dental practices, urgent care facilities, wellness concepts, childcare operators, specialty retail businesses, entertainment venues, financial service providers, professional offices, and owner-user opportunities may all benefit from the site's established infrastructure and highly visible location. Commercial properties combining frontage, access, parking, drive-thru capability, and recent renovations are increasingly limited within the Porters Neck market, creating a compelling opportunity for investors and owner-occupants seeking a versatile commercial asset.
The approximately 7,922-square-foot building underwent a comprehensive renovation in 2024 and includes numerous improvements already in place for a future owner. Existing infrastructure includes a drive-thru, large commercial kitchen, municipal water and sewer service, natural gas, grease trap, loading access, outdoor patio space, marquee signage, and 61 parking spaces. These features provide operational flexibility while reducing the capital expenditures often associated with repositioning or opening a new commercial facility.
While currently configured for food service, the property's layout, parking capacity, visibility, and B-1 zoning support a broad range of potential uses. Medical and dental practices, urgent care facilities, wellness concepts, childcare operators, specialty retail businesses, entertainment venues, financial service providers, professional offices, and owner-user opportunities may all benefit from the site's established infrastructure and highly visible location. Commercial properties combining frontage, access, parking, drive-thru capability, and recent renovations are increasingly limited within the Porters Neck market, creating a compelling opportunity for investors and owner-occupants seeking a versatile commercial asset.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Freestanding
Building Size
7,922 SF
Building Class
B
Year Built
1999
Price
$4,200,000
Price Per SF
$530.17
Cap Rate
4.50%
NOI
$189,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Lot Size
1.43 AC
Zoning
B-1 - B-1 allows for neighborhood-type commercial uses such as drug stores, restaurants, barber shops
and salons, ect.
Parking
61 Spaces (7.7 Spaces per 1,000 SF Leased)
Frontage
150’ on Market Street
Amenities
- Dedicated Turn Lane
- Freeway Visibility
- Pylon Sign
- Restaurant
- Signage
- Tenant Controlled HVAC
- Drive Thru
- Wheelchair Accessible
- Storage Space
- Air Conditioning
- Smoke Detector
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Nearby Major Retailers
Property Taxes
| Parcel Number | R03600-005-042-000 | Improvements Assessment | $1,822,300 |
| Land Assessment | $898,700 | Total Assessment | $2,721,000 |
Property Taxes
Parcel Number
R03600-005-042-000
Land Assessment
$898,700
Improvements Assessment
$1,822,300
Total Assessment
$2,721,000
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8232 Market St