2535 Castle Hayne Rd is aland property for lease in Wilmington, NC.
12+ prime acres at the busiest intersection in Castle Hayne (aka Wrightsboro).
Currently there are 3 commercial buildings on the property, 2 of which are fully leased, generating approx $10k/mo.
The 3rd commercial building and 7+ acres of residential land are ideal for a multifamily project, but could be used to generate up to an additional $16K/mo.
Currently zoned B-2 and R-15, the county has already indicated that a rezoning to accommodate multifamily would be looked upon favorably. That would equate to upwards of 17 units/acre, and approximately 10.5 acres that would most easily accommodate the project.
An alternative use would be a grocery anchored center, (Food Lion is immediately adjacent to property). A 232-unit residential project, Riverside, is underway directly behind this property. Within 0.75 miles, another 234-unit project is also in process (Bill Clark Homes/Hanover Lakes). This is the fastest growing area in New Hanover County. Property is less than 2 miles south of I-140 and GE, and 1.5 miles from the ramp to MLK Blvd to Downtown or I-40. Property is walking distance to 8 restaurants, grocery, dry cleaners, financial services, and much more.
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