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    232 Causeway Dr, Unit unit 1C 1D Wrightsville Beach, NC 28480

    Sponsored
    For Lease
    $7,543 /Mo ($35 SF/Yr)

    COMMERCIAL - Wrightsville Beach, NC

    Property size:
    2,586 SF
    Lot size:
    0.57 Acres
    Days on Market:
    8
    Last Refresh:
    Feb 5 at 12:06 pm

    Property Features for 232 Causeway Dr

    General Information

    Special listing conditions
    Standard
    Property type
    Commercial Lease
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Zoning
    C-3
    APN
    R05719-004-003-000
    Parking
    4
    Parking features
    Assigned, Covered, Parking Lot
    Size
    2,586 SF
    Lot size
    0.57 Acres

    Taxes and HOA fees

    Expense value
    7543
    Expense
    SecurityDeposit
    Expense freq.
    One Time

    Utilities

    Heating system
    Heat Pump (Heating), Electric (Heating)
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    2001
    Number of units
    2
    Flooring type
    Lvt/lvp, Wood, Carpet
    Building materials
    Wood Siding
    Roof type
    Shingle

    We can help!

    Listing Contact
    Grace K Stamp

    Sea Scape Properties (910) 332-7284

    Listing agent Grace K Stamp (910) 332-7284 License #331982

    Listing date Jan 29, 2026

    MLS# 100542121

    Copyright © 2026 HIVE MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Wrightsville Beach Professional Office Space

    This is a rare opportunity to lease 2,586 square feet of professional office space in Wrightsville Beach, North Carolina. The offering consists of two separate office suites, 1C and 1D, which may be leased together or individually. If leased separately, the landlord will close off the existing 36-inch case opening connecting the two suites prior to tenant move-in. With a minimum five-year lease, the landlord will replace the carpet in the offices of Suite 1C with the tenant's choice of carpet or LVP flooring. The property features two reserved covered parking spaces per suite, along with additional first-come, first-served parking. Tenants will enjoy views of the Intracoastal Waterway. The landlord covers water, sewer, and trash. Suite 1C, comprising 1,232 square feet, includes three oversized offices, a conference room, kitchenette, unisex restroom, and ample storage. Suite 1D, offering 1,354 square feet, features four private offices plus a conference room or potential fifth office, kitchenette, unisex restroom, and generous storage. The building is ADA accessible with an onsite elevator and is equipped with a fire suppression sprinkler system throughout. The location offers a coastal work lifestyle, with tenants within walking distance of restaurants and cafes and steps from the Loop. The property also provides quick access to marina and boating amenities. The property is located on a 0.57 acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office space

    Map

    City
    Wrightsville Beach
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.808279
    Latitude
    34.215094

    FAQs

    What type of property is this?
    Office space - Professional office space for lease in Wrightsville Beach, North Carolina.
    Where is this office space located?
    The property is located at 232 Causeway Dr, Unit unit 1C 1D Wrightsville Beach, NC.
    What is the lease rate?
    The lease rate is $35 SF/Yr.
    What are key features of this property?
    This property features: - Highly desirable Wrightsville Beach location with Intracoastal Waterway views and proximity to restaurants, cafes, and the Loop.; - Two reserved covered parking spaces per suite, plus additional first-come, first-served parking.; - Option to lease two suites together (2,586 SF) or separately (1C: 1,232 SF; 1D: 1,354 SF).
    (910) 233-2053
    Request Owner's contact information
    232 Causeway Dr, Unit unit 1C 1D Wrightsville Beach, NC 28480
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    Wrightsville Beach, NC 28480
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    232 Causeway Dr, Unit unit 1C 1D Wrightsville Beach, NC 28480
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    We can help!
    Listing Contact
    Grace K Stamp
    Real Estate License ID: 331982
    (910) 233-2053
    Learn more
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