Furnished Office
For Sale
$149,900
110 West Drive #B, Atlantic Beach, NC 28512
Private restroom and ocean views support a professional coastal work setting.
Property Size370 SF
Days on Market114
Property Features for 110 West Drive #B
General Information
Standard status
Active
Size
370 SF
Property subtype
Commercial
Zoning
Cir-B
Additional Details
Furnished
Yes
Amenities
private restroom
ocean views
Building Details
Building Size
370 SF
Year Built
2017
Listing Agency:
HTR Coastal Properties
(919) 320-7091
Listed By:
Team Judy K. · License #233057
(919) 320-7091
Source:
Thomasrealtysold
Added: Apr 29
Changed: Aug 18
Last Checked: Aug 19 at 2:49PM
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 HTR Coastal Properties
Investment Insights
Based on property information with market context.
This office unit is located within The Grove at the Circle, a mixed-use community combining residential and business uses. The space is furnished and includes a private restroom, with a layout designed for practical day-to-day operations and a professional setting. Ocean views add a distinct coastal element to the workplace.
The property is at 110 West Drive #B in Atlantic Beach, with sidewalks connecting the office to nearby restaurants, shops, and beach access. Its placement within a walkable commercial and residential environment provides convenient access to surrounding services. The building was constructed in 2017 and carries Cir-B zoning.
The property is at 110 West Drive #B in Atlantic Beach, with sidewalks connecting the office to nearby restaurants, shops, and beach access. Its placement within a walkable commercial and residential environment provides convenient access to surrounding services. The building was constructed in 2017 and carries Cir-B zoning.
Key Highlights
- Furnished office unit with a private restroom
- Current ocean views from the office space
- Located within The Grove at the Circle mixed‑use community
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
$5,728
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
3.82%
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%
$114,560
$114.6K
Cap Rate 7%
$81,829
$81.8K
Cap Rate 9%
$63,644
$63.6K
Market Conditions
NOI Build-Up for 370 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
$8.9K $24.00/SF
− Vacancy
−$1.2K −$3.36/SF
EGI
$7.6K $20.64/SF
− OpEx
−$1.9K −$5.16/SF
NOI
$5.7K $15.48/SF
Area
Carteret County, NC
Vacancy
14.00%
Lease Rate
$24.00 /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%
$114,560
Cap Rate 7%
$81,829
Cap Rate 9%
$63,644
Alternative Uses
Best Use
Office B
$81.8K
$71.6K – $95.5K
NOI $5,728 @ 7.0% cap · market cap 3.82%
Second Best
Mixed Use
$39.7K
$34.7K – $46.3K
NOI $2,778 @ 7.0% cap · market cap 1.85%
Theoretical Best
Office A
$111.0K
$97.1K – $129.5K
NOI $7,770 @ 7.0% cap · market cap 5.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
291
Businesses Nearby
Explore this area
Business Placement
Demographics for 28512, NC
3,011
Population
8,944
Households
0.3
Avg Household Size
61
Median Age
56%
College-Educated
99%
High-School Grad
6.1 sq mi
ZIP Area
494
Density / Sq Mi
$80,375
Median Household Income
$45,075
Median Earnings
$1,008
Median Rent
$529,400
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 - Private restroom and ocean views support a professional coastal work setting.
Where is this office units located?
The property is located at 110 West Drive #B Atlantic Beach, NC.
What is the asking price?
The asking price for this property is $149,900.
What are key features of this property?
This property features: Furnished office unit with a private restroom; Current ocean views from the office space; Located within The Grove at the Circle mixed‑use community
