Listed by Cape Fear Commercial
$9,800,000
23rd Street Business Park
Details
APN R04812-001-018-000, R04812-001-001-000, R04812-001-003-000
Property Type Retail, Office
Sub Type Distribution, Executive Office
Acreage 87.060
Zoning LI—Light Industrial
Investment Type Redevelopment
Retail
Marketing description
Cape Fear Commercial is pleased to present this investment opportunity: three undeveloped parcels totaling ±87.07 acres located off N 23rd Street in northern Wilmington, North Carolina.
The subject is positioned adjacent to Atlantic Packaging, Cinespace Studios, and FedEx, benefitting from strong commercial and residential growth in the corridor between Princess Place and Wrightsboro. The property offers excellent connectivity, situated just north of Historic Downtown Wilmington and within close proximity to Wilmington International Airport.
The property has convenient access to I-40, I-140, and US Highway 74/76, and is near major demand drivers such as North Kerr Industrial Park (home to the new FedEx distribution center), the Port of Wilmington, and several recently developed commercial and residential communities. A planned NCDOT roadway connecting N 23rd Street to N 26th Street will further enhance access and traffic flow around the site and surrounding businesses.
Zoned Light Industrial (City of Wilmington), the property is well-suited for a wide range of uses, including industrial, distribution, warehouse, retail, and general office
Investment highlights
- Ideal for industrial, distribution, warehouse, retail, office, or mixed-use commercial development
- Adjacent to Atlantic Packaging, Cinespace Studios, and FedEx, and near growing industrial hubs
- NCDOT’s planned roadway connecting N 23rd Street to N 26th Street will enhance access and traffic flow
- Proximity to Wilmington International Airport (ILM) and Martin Luther King Jr. Parkway
- Convenient access to I-40, I-140, and US Hwy 74/76
- Wilmington’s industrial market is experiencing robust growth, driven by] expanding demand for distribution, logistics, and light manufacturing space As of Q4 2024, Industrial Market demand in Wilmington is above the national average.
- Wilmington, NC is among the top-performing markets in the industrial sector, boasting historically low vacancy rates.
- Wilmington, NC is experiencing robust population growth, fueled by the coastal migration phenomenon of inbound moves to the South-eastern region.
- Water: CFPUA Water Mains along Princess Place Drive
- Sewer: CFPUA Mains along Alcami Drive and Princess Place Drive
- ZONING LI—Light Industrial | City of Wilmington
Listing Contacts
Listed by Cape Fear Commercial
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