Listed by Sands Investment Group Charleston, Sands Investment Group Los Angeles
$1,465,300
Summerhill Square - Wilmington, NC
Details
Property Type Retail
Sub Type Shopping Center
Square Footage 3,950
Cap Rate 7%
NOI $102,574
Occupancy 100%
Tenancy Multi
Lease Type NNN
Price per SqFt $371
Year Built 1988
Year Renovated 2023
Acreage 0.350
Ground Lease No
Prime Downtown Wilmington Real Estate | Four Unit Strip Center | High Traffic Corridor
Marketing description
Sands Investment Group is pleased to exclusively offer for sale the 3,950 SF Summerhill Square located at 1930 Carolina Beach Road in Wilmington, NC. This offering features a recently upgraded asset with significant capital improvements, including enhanced landscaping and irrigation, a freshly sealed and striped parking lot, and upgraded LED-lit pylon signage. Additional improvements include modern security systems, new fencing, and a fully equipped commercial kitchen within the tea room unit. Combined with newly curated tenants and refreshed interior buildouts, the center has been thoughtfully repositioned into an attractive neighborhood retail destination, offering a unique investment opportunity.
Investment highlights
- The property is ideally situated just approximately 2.5 miles south of Downtown Wilmington, providing immediate access to the city’s central business district, Riverwalk, and primary employment hubs. This strategic infill location along Carolina Beach Road offers tenants the benefit of strong local traffic and seamless connectivity to both the urban core and the coastal communities.
- The property has undergone significant recent capital improvements, including new landscaping and irrigation, a freshly sealed and striped parking lot, and upgraded LED-lit pylon signage. Additional enhancements include upgraded security systems and fencing, as well as a fully equipped commercial kitchen in the tea room unit. Paired with newly curated tenants and modern interior buildouts, the center has been thoughtfully repositioned into an attractive neighborhood retail destination. Please reach out to the broker for additional details regarding recent upgrades.
- The property offers excellent strip center fundamentals, including outstanding visibility along Carolina Beach Road with approximately 35,114 VPD. The site features easy access with both left and right ingress/egress, supported by ample on-site parking and prominent signage. Additionally, the tenant mix is highly synergistic, with established businesses demonstrating a long-term commitment to the center, reinforcing stability and ongoing customer draw.
- The property is located within a supply-constrained retail node, where limited availability of quality retail space has driven strong leasing fundamentals. The Wilmington MSA is a highly sought-after coastal market with strong investor demand for retail assets, supporting long-term value and liquidity.
Listing Contacts
Listed by Sands Investment Group Charleston, Sands Investment Group Los Angeles
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$102,574.00
$8,547.83/mo
Valuation Metrics
0
DSCR
7%
Cap Rate
7%
ROI
Map
Zoning
CB CommercialRetail CommercialCommunity Business
View municipality zoning documents Upgrade to see the zone description and what's allowed on this property
Upgrade to search and view land use codes
View all 133 uses
View all 133 uses Last updated May 9, 2026 For deeper zoning details, reports are available at Zoneomics
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Name
License
Title
Is there information that looks off?
