New Cape Carteret Office
For Sale
$4,500,000
Cape Carteret, NC 28584, Cape Carteret, NC 28584
New construction office building in thriving Cape Carteret area.
Property Size10,948 SF
Days on Market257
Property Features
General Information
Standard status
Active
Size
10,948 SF
Property subtype
Office
Zoning
B-20
Building Details
Building Size
10,948 SF
Year Built
2022
Listing Agency:
The Overton Group
(252) 560-9472
Listed By:
Win Edwards · License #NC #243984
(252) 560-9472
Source:
Svnefird
Added: Nov 26, 2025
Changed: Aug 8
Last Checked: May 10 at 8:06PM
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 The Overton Group
Investment Insights
Based on property information with market context.
This newly constructed 10,948 square foot building in Cape Carteret, NC, presents an investment opportunity for office or medical purposes. Built in 2022, the property is zoned B-20, offering flexibility for various professional uses. The location provides access to the Intracoastal Waterway and beaches, an area known for boating, fishing, and outdoor recreation. Cape Carteret offers opportunities for investors seeking to benefit from the region’s demand for office, medical, retail, and mixed-use properties. The property consists of two office buildings on a 2.52 acre lot. Building one is 7,616 square feet and building two is 3,332 square feet.
Key Highlights
- Newly constructed in 2022, offering modern amenities.
- Located in Cape Carteret, NC, along the Crystal Coast, a prime investment destination.
- Zoned B‑20, providing flexibility for a variety of professional office or medical endeavors.
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
$135,501
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
3.01%
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%
$2,710,020
$2.7M
Cap Rate 7%
$1,935,729
$1.9M
Cap Rate 9%
$1,505,567
$1.5M
Market Conditions
NOI Build-Up for 10,948 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
$236.5K $21.60/SF
− Vacancy
−$10.6K −$0.97/SF
EGI
$225.8K $20.63/SF
− OpEx
−$90.3K −$8.25/SF
NOI
$135.5K $12.38/SF
Area
Onslow County, NC
Vacancy
4.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
40.00%
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%
$2,710,020
Cap Rate 7%
$1,935,729
Cap Rate 9%
$1,505,567
Alternative Uses
Best Use
Healthcare Medical
$1.94M
$1.69M – $2.26M
NOI $135,501 @ 7.0% cap · market cap 3.01%
Second Best
Office B
$1.79M
$1.57M – $2.09M
NOI $125,628 @ 7.0% cap · market cap 2.79%
Theoretical Best
Office A
$2.38M
$2.08M – $2.77M
NOI $166,480 @ 7.0% cap · market cap 3.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
227
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28584, NC
13,584
Population
7,550
Households
1.8
Avg Household Size
46
Median Age
32%
College-Educated
94%
High-School Grad
33.9 sq mi
ZIP Area
401
Density / Sq Mi
$81,574
Median Household Income
$48,944
Median Earnings
$1,300
Median Rent
$308,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - New construction office building in thriving Cape Carteret area.
Where is this medical office space located?
The property is located at Cape Carteret, NC.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: Newly constructed in 2022, offering modern amenities.; Located in Cape Carteret, NC, along the Crystal Coast, a prime investment destination.; Zoned B‑20, providing flexibility for a variety of professional office or medical endeavors.
