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    5311 Castle Hayne Rd Castle Hayne, NC 28429

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    For Lease
    $15 SF/Yr ($11,910 /Mo)

    9,000 SF flex space for lease in Castle Hayne.

    Property size:
    9,000 SF
    Lot size:
    1.22 Acres

    Property Features for 5311 Castle Hayne Rd

    General Information

    Size
    9,000 SF
    Lot size
    1.22 Acres

    We can help!

    Listing Contact
    Tyler Pegg
    Tyler Pegg
    Source: Moodyscre

    Listing Agent: Tyler Pegg

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Castle Hayne Flex Space Available

    Located at 5311 Castle Hayne Road in Castle Hayne, North Carolina, this property offers 9,000 SF of flex space available for lease. The property includes two buildings situated on a 1.22-acre parcel with frontage on Castle Hayne Road. Originally built in 1982, the buildings were purpose-built for the Castle Hayne Volunteer Fire Department and are currently occupied by New Hanover County Emergency Services, which will be relocating at the end of 2025. The front building provides 6,954 SF of space, featuring eight 12’x12’ electric grade-level drive-in doors for drive-thru access, a clear-span garage with a 15ft eave height and 23ft at the center, a small office, a large open meeting room, a full-service kitchen, three restrooms (one with a shower), a workout/storage area, and an additional rear corner kitchen with 3-compartment steel sinks. The dimensions of the front building are 114ft wide x 61ft deep. The rear building offers 2,000 SF of space, including three 12’x12’ electric grade-level drive-in front-loaded doors and a clear-span heated garage with a 14ft eave height and 22ft at the center. The rear building dimensions are 50ft wide x 40ft deep. An additional +/- 300 SF utility building provides extra storage for tools and smaller equipment, along with washer and dryer hookups, a Culligan water softener, and a designated air compressor closet. The property is zoned CZD B-2, conditional Highway Business District under New Hanover County Zoning. It is located approximately 2.5 miles from I-40 via Holly Shelter Road and Castle Hayne Road, with convenient access to the I-140 interchange, US-117, and NC-133. Additional land located at 5307 and 5301 Castle Hayne Road is available for ground lease and can be combined with this property for a total of 3.16 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    New Hanover County ... Fire Station

    Suggested Use

    Realty agency Restaurant Law Firm Building Supply Gym & Fitness Auto Repair Shop Pharmacy Wholesale Shop Accounting Firm Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Castle Hayne
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.901534
    Latitude
    34.349625

    Nearby Similar for Lease

    • $15 SF/Yr
      20,618 SF

      Class A Office Space Available

      Premier office space with modern amenities in Castle Hayne, NC.
      5601 Barbados Blvd, Castle Hayne, NC 28429
      View Details

    FAQs

    What type of property is this?
    Flex space - 9,000 SF flex space for lease in Castle Hayne.
    Where is this flex space located?
    The property is located at 5311 Castle Hayne Rd Castle Hayne, NC.
    What is the lease rate?
    The lease rate is $15 SF/Yr.
    What are key features of this property?
    This property features: - 9,000 SF of Flex Space Available in Two Buildings; - Eight (8) Drive-In Doors in Front Building, Three (3) in Rear Building; - Clear-Span Garages with High Eave and Center Heights (15ft/23ft and 14ft/22ft)
    (910) 512-3550
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    5311 Castle Hayne Rd Castle Hayne, NC 28429
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    Castle Hayne, NC 28429
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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
    5311 Castle Hayne Rd Castle Hayne, NC 28429
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    We can help!
    Listing Contact
    Tyler Pegg
    Tyler Pegg
    (910) 512-3550
    Learn more
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