Vacant End-Unit Office
118 S Kerr Avenue Unit F Wilmington, NC 28403
118 S Kerr Avenue Unit F, Wilmington, NC, 28403
$240,000
For Sale
$240,000
Vacant end-unit commercial space with a showroom/lobby, five offices, reception area, two restrooms, and breakroom.
Property Size1,009 SF
Price / SF$237.86
Days on Market229
Property Features for 118 S Kerr Avenue Unit F
General Information
- Standard status
- Active
- Size
- 1,009 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 2000
Listing agency
Intracoastal Realty Corp
(910) 233-0825
Listed by
Gail Bailey · License #153036
(910) 233-0825
Source
Xome
Added: Dec 5, 2025 Updated: Jul 21 at 6:07AM Checked: Jul 22 at 3:33AM
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 Intracoastal Realty Corp
Investment Insights
Based on property information with market context.
This vacant end-unit commercial property is designed with a bright showroom or lobby area that includes side windows for natural light. The layout also provides a separate reception or checkout area, five individual offices, and two restrooms, including one restroom with a shower. A breakroom with cabinets and a refrigerator is included, offering additional functionality for day-to-day operations. The flexible floor plan can be configured to support a single-tenant use or a shared arrangement.
The unit is located within a four-unit complex, with three other active businesses on site. The property sits near Market Street and the airport, placing it among established businesses.
As part of the end-unit configuration, the space offers a straightforward combination of public-facing areas and multiple private offices, supported by restroom facilities and a dedicated breakroom.
The unit is located within a four-unit complex, with three other active businesses on site. The property sits near Market Street and the airport, placing it among established businesses.
As part of the end-unit configuration, the space offers a straightforward combination of public-facing areas and multiple private offices, supported by restroom facilities and a dedicated breakroom.
Key Highlights
- Vacant end‑unit commercial property in a four‑unit complex with three other active businesses
- Layout includes a bright showroom/lobby with side windows, separate reception/checkout area, and five individual offices
- Two restrooms, including one with a shower
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $21.1k | $20.88 |
| − Vacancy | −$4.0k | −$3.95 |
| EGI | $17.1k | $16.93 |
| − OpEx | −$4.3k | −$4.23 |
| NOI | $12.8k | $12.70 |
1,009 SF · lease $20.88/SF/yr · vacancy 18.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$183.1K
$160.2K – $213.6K
NOI $12,815 @ 7.0% cap · market cap 5.34%
Second Best
Retail
$142.3K
$124.5K – $166.0K
NOI $9,959 @ 7.0% cap · market cap 4.15%
Theoretical Best
Multifamily LT 5
$12.35M
$10.81M – $14.41M
NOI $864,823 @ 7.0% cap · market cap 360.34%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Care-O-Lina Hearing Center
Physician
Grooming By Jess
Pet Grooming Service
Joe Stephenson
Physician
A & W Tobacco & Vape
(Bike/Boat/Book/etc) Store
Chong Haircuts
Barber Shop
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Vacant end-unit commercial space with a showroom/lobby, five offices, reception area, two restrooms, and breakroom.
Where is this office units located?
The property is located at 118 S Kerr Avenue Unit F Wilmington, NC.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Vacant end‑unit commercial property in a four‑unit complex with three other active businesses; Layout includes a bright showroom/lobby with side windows, separate reception/checkout area, and five individual offices; Two restrooms, including one with a shower
