Six-Office Professional
For Sale
Contact for pricing
108 N Kerr Ave, Wilmington, NC 28405
Office unit with private rooms, two restrooms, and a dedicated break area.
Property Size952 SF
Price / SF$246.85
Days on Market9
Property Features for 108 N Kerr Ave
General Information
Standard status
Active
Size
952 SF
Property subtype
OFFICE
Listing Agency:
BlueCoast Commercial, LLC
(910) 233-5183
Listed By:
Eian Lundy
(910) 233-5183
Source:
Moodyscre
Added: Aug 13
Changed: Aug 17
Last Checked: Aug 21 at 6:05AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BlueCoast Commercial, LLC
Investment Insights
Based on property information with market context.
Unit E2 at 108 N Kerr Ave provides 952 square feet of office space arranged with six offices, two bathrooms, and a break room. The configuration combines individual work areas with shared support space within a single commercial unit.
The property is located in Wilmington, North Carolina, at 108 N Kerr Ave. The office unit is offered for sale and can accommodate professional office operations or an ownership strategy involving commercial office space.
The property is located in Wilmington, North Carolina, at 108 N Kerr Ave. The office unit is offered for sale and can accommodate professional office operations or an ownership strategy involving commercial office space.
Key Highlights
- 952‑square‑foot office unit identified as Unit E2
- Six offices provide multiple private work areas
- Two bathrooms and a dedicated break room
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$12,091
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.15%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$241,820
$241.8K
Cap Rate 7%
$172,729
$172.7K
Cap Rate 9%
$134,344
$134.3K
Market Conditions
NOI Build-Up for 952 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$19.9K $20.88/SF
− Vacancy
−$3.8K −$3.95/SF
EGI
$16.1K $16.93/SF
− OpEx
−$4.0K −$4.23/SF
NOI
$12.1K $12.70/SF
Area
Wilmington, NC
Vacancy
18.90%
Lease Rate
$20.88 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$241,820
Cap Rate 7%
$172,729
Cap Rate 9%
$134,344
Alternative Uses
Best Use
Office B
$172.7K
$151.1K – $201.5K
NOI $12,091 @ 7.0% cap · market cap 5.15%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$11.66M
$10.20M – $13.60M
NOI $815,968 @ 7.0% cap · market cap 347.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,088
Businesses Nearby
Explore this area
Business Placement
Demographics for 28405, NC
31,775
Population
17,073
Households
1.9
Avg Household Size
41
Median Age
41%
College-Educated
91%
High-School Grad
23.5 sq mi
ZIP Area
1,352
Density / Sq Mi
$67,809
Median Household Income
$41,265
Median Earnings
$1,405
Median Rent
$337,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office unit with private rooms, two restrooms, and a dedicated break area.
Where is this office units located?
The property is located at 108 N Kerr Ave Wilmington, NC.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: 952‑square‑foot office unit identified as Unit E2; Six offices provide multiple private work areas; Two bathrooms and a dedicated break room
