14
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$450,000
Est. payment /mo
1,500 SqFt
New
1505 Medical Center DR Wilmington, NC 28401
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 1,500 sqft
Price per Sqft $300
Subdivision Not In Subdivision
MLS Listing ID 100581295
Year Built 1983
Lot Size 0.480 Acres
Acres 0.48
Lot Dimensions 105' x 200'
Source Hive MLS
Property Description
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.
Location
State NC
County New Hanover
Community Not In Subdivision
Zoning O&I
Direction From 17th St, Turn left onto Medical Center Dr. Property will be on your right.
Location Details Mainland
Exterior
Garage No
Building
New Construction No
Others
Tax ID R06011-002-010-001
Special Listing Condition Seller not Owner
Listed by Prosper Real Estate
NEARBY SCHOOL & BUSINESS
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