2600 421 Highway North

Vacant Land for Sale
Catylist Listing ID: 29899687
Property Subtypes: Industrial
Gross Land Area: 44 Acres
Sale Price: $3,750,000
Unit Price: $85,227 Per Acre
Sale Terms: Cash to Seller, Other
Cap Rate: Undisclosed
Last Updated: 6/25/2021

Overview / Comments

For sale approximately 44.14 acres of I-2 zoned land on the Cape Fear River in New Hanover County, NC. Highest and best uses include: general wholesaling and manufacturing, warehousing and distribution, bulk storage, chemical storage and more. Located within minutes of The Port of Wilmington and I-140, this location has high visibility on US 421 N, directly adjacent to the Louisiana Pacific facility. The US 421 N corridor is a hub of heavy industry in New Hanover County.

Approximately nine (9) acres of the subject property is leased to Louisiana Pacific Corp. LP is an industry leader in the production of engineered wood products. This nine acre site serves as laydown yard for the Wilmington Engineered Wood Products (EWP) plant directly adjacent to the subject property. This credit tenant ground lease has been in place since 2004 and produces significant income to the Owner.

The property provides direct terminal access to the Cape Fear River and is less than five (5) miles upstream from the The NC Port of Wilmington and is situated in one of three Port Enhancement Zones in New Hanover County. A river survey was recently conducted by USACE (3/2020) and site is within the 25' USACE project area, current depths estimates are available per the USACE survey. A working CSX rail spur serves the frontage portion of the property leased to LP. An abandoned CSX rail spur serves the eastern portion of the property near the river. Municipal water and sewer is available along US 421N. Local and state incentives are available through Wilmington Business Development for certain industries.

DIRECTIONS: Property is located on the west side of US Highway 421N within 1 mile north of the Isabel Holmes Bridge, one parcel north of the Eagle Island convenience store.

Attachments & Media

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Tax ID/APN: 311904.52.2258.000
Zoning: NEW HANOVER COUNTY: I-1
Site Description: IN CITY LIMITS: No
Development Name: Captains Quarters

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,132 3,261 27,102
Median Age: 36.78 35.76 36.84
Households: 827 1,287 11,284

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