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    1029 N Lake Park Boulevard N Carolina Beach, NC 28428

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    For Lease
    $300/Mo $56 SF/Yr (calc)

    COMMERCIAL - Carolina Beach, NC

    Property size:
    64 SF
    Lot size:
    0.29 Acres
    Added:
    Dec 2, 2024
    Days on Market:
    516
    Last Refresh:
    May 2 at 9:06 pm

    Property Features for 1029 N Lake Park Boulevard N

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    HB
    Standard status
    Active
    APN
    R08814-001-006-000
    Size
    64 SF
    Lot size
    0.29 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    Network Office Building Unit A
    Tax Annual Amount
    4526
    Expense value
    300
    Expense
    SecurityDeposit
    Expense freq.
    One Time

    Utilities

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

    Building Details

    Year built
    1982
    Flooring type
    Carpet
    Building materials
    Steel Siding
    Roof type
    Metal

    We can help!

    Listing Contact
    Kevin S McKoy
    Kevin S McKoy

    Listing agent Kevin S McKoy License #186237

    Listing office Network Real Estate 1029 N Lake Park Blvd. #1, Wilmington, NC

    Listing date Dec 2, 2024

    MLS# 100478231

    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.

    Overview

    Office Space in Carolina Beach

    Available for rent is a 64 square foot office space located upstairs in the Network Real Estate building in Carolina Beach. The property benefits from provided parking and includes electricity, water, trash, sewer, and common area maintenance. Tenant is responsible for phone, internet, and janitorial services. Suites A, B, or C are available and may be rented in any combination. The property is zoned HB and sits on a 0.29 acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Cavik Insurance Insurance Agency Bell Charles CPA Accounting Firm Network Real Estate Real Estate Agency Linen Rentals by ... (Bike/Boat/Book/etc) Store Dolphin Bay HOA Homeowners' Association

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Carolina Beach
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.898233
    Latitude
    34.043708

    Nearby Similar for Lease

    • $6,500/Mo

      Turn-Key Bar & Restaurant Venue

      Fully equipped bar and restaurant in Carolina Beach nightlife scene.
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      View Details
    • $32 SF/Yr

      New Retail Space Near Beach

      New retail space in luxury apartment complex near Carolina Beach.
      904 North Lake Park Blvd, Carolina Beach, NC
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    • Contact for pricing

      Warehouse Units with Office Space

      Warehouse units with office space for lease on Lake Park.
      1324 N Lake Park Blvd, Carolina Beach, NC 28428
      View Details

    FAQs

    What type of property is this?
    Office units - 64 sq ft office space for rent in Carolina Beach.
    Where is this office units located?
    The property is located at 1029 N Lake Park Boulevard N Carolina Beach, NC.
    What is the lease rate?
    The lease rate is $300 /Mo.
    What are key features of this property?
    This property features: No CAM fees; Rent includes electricity, water, trash, and sewer; Parking provided for tenants
    (910) 458-8881
    We can help!
    Listing Contact
    Kevin S McKoy
    Kevin S McKoy
    Real Estate License ID: 186237
    Learn More
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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
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    1029 N Lake Park Boulevard N, Carolina Beach, NC 28428

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