Mixed-Use Property with Office
For Sale
$120,000
108 S Lee St, Whiteville, NC 28472
Residential or light-business use is permitted, with a lobby, kitchen, and mostly fenced rear yard.
Property Size700 SF
Price / SF$171.43
Days on Market11
Property Features for 108 S Lee St
General Information
Standard status
Active
Size
700 SF
Property subtype
Commercial
Additional Details
Highway Access
Yes
Office Units
2
Building Details
Year Built
1953
Listing Agency:
Atlantic Blue Coast Realty LLC
Listed By:
Eric D Hill · License #250127
(910) 625-8199
Source:
Augustaaikenhomefinder
Added: Oct 20
Changed: Oct 28
Last Checked: Oct 28 at 8:30AM
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 Atlantic Blue Coast Realty LLC
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Investment Insights
Based on property information with market context.
Built in 1953, this 700-square-foot property has two offices, one bathroom, a greeting area, and a kitchen. It has served as both an office and a residential rental. The property allows residential or light-business use, including professional office and small medical uses. A mostly fenced backyard could accommodate parking.
The building is across the street from the post office and near schools, shopping, dining, and banks. Major highways connecting Wilmington, Myrtle Beach, and Brunswick County beaches are minutes away.
The building is across the street from the post office and near schools, shopping, dining, and banks. Major highways connecting Wilmington, Myrtle Beach, and Brunswick County beaches are minutes away.
Key Highlights
- 700‑square‑foot building constructed in 1953
- Two offices and one bathroom, plus a greeting area and kitchen
- Residential or light‑business zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,020
Cap Rate
7.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$180,400
$180.4K
Cap Rate 7%
$128,857
$128.9K
Cap Rate 9%
$100,222
$100.2K
Market Conditions
NOI Build-Up for 700 SF
Gross rent
$16.8K $24.00/SF
− Vacancy
−$2.4K −$3.38/SF
EGI
$14.4K $20.62/SF
− OpEx
−$5.4K −$7.73/SF
NOI
$9.0K $12.89/SF
Area
Columbus County, NC
Vacancy
14.10%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$180,400
Cap Rate 7%
$128,857
Cap Rate 9%
$100,222
Alternative Uses
Best Use
Mixed Use
$128.9K
$112.8K – $150.3K
NOI $9,020 @ 7.0% cap · market cap 7.52%
Second Best
Office B
$125.4K
$109.7K – $146.3K
NOI $8,777 @ 7.0% cap · market cap 7.31%
Theoretical Best
Office A
$169.8K
$148.6K – $198.1K
NOI $11,886 @ 7.0% cap · market cap 9.91%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
429
Businesses Nearby
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Business Placement
Demographics for 28472, NC
17,308
Population
8,073
Households
2.1
Avg Household Size
44
Median Age
18%
College-Educated
91%
High-School Grad
197.9 sq mi
ZIP Area
87
Density / Sq Mi
$48,963
Median Household Income
$36,535
Median Earnings
$788
Median Rent
$141,000
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Residential or light-business use is permitted, with a lobby, kitchen, and mostly fenced rear yard.
Where is this mixed-use property located?
The property is located at 108 S Lee St Whiteville, NC.
What is the asking price?
The asking price for this property is $120,000.
What are key features of this property?
This property features: 700‑square‑foot building constructed in 1953; Two offices and one bathroom, plus a greeting area and kitchen; Residential or light‑business zoning
