Mixed-Use Property with
New
For Sale
$1,299,000
1330 N Howe Street, Southport, NC 28461
Commercial Sale, Southport, NC
Property Size3,300 SF
Lot Size0.59 Acres
Price / SF$393.64
Days on Market2
Property Features for 1330 N Howe Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CO-NC
Subdivision
Not In Subdivision
Lot features
Level
Directions
211 Southport Supply Rd turns into N Howe St. 1330 will be on the L.
Standard status
Active
APN
221mb01601
Size
3,300 SF
Lot size
0.59 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
.214 Ac N Howe St & .38Ac Atlantic Ave
Tax Annual Amount
1308
Legal Description
.214 Ac N Howe St & .38Ac Atlantic Ave
Utilities
Sewer type
Septic Tank, Shared Septic
Heating system
Electric (Heating), Heat Pump (Heating)
Cooling system
Central Air
Water source
Public
Amenities
storage buildings
raised garden beds
Building Details
Year built
1955
Flooring type
Lvt/lvp
Building materials
Brick, Vinyl Siding, Wood Frame
Roof type
Shingle
Listing Agency:
eXp Realty
(888) 584-9431
Listed By:
Hamilton Realty Group
(336) 669-3775
Added: Sep 4
Last Checked: Sep 5 at 7:06PM
MLS# 100601594
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use holding combines a commercial office building with four apartments, providing both commercial and residential components in one ownership opportunity. The office building contains 3,300 square feet and is currently used as a massage therapy clinic. Improvements include a shingle roof replaced approximately two years ago, an outdoor shower, LVT/LVP flooring, central air, and electric heat-pump systems. The apartment units were updated within the past three years and each has a 10-by-12-foot storage building and raised garden beds.
The property encompasses 0.59 acres at 1330 N Howe Street in Southport, within Brunswick County and outside the city limits. It carries CO-NC zoning, has public water, and uses septic systems, including shared septic service. Separate parcels provide distinct ownership or development considerations for the buildings, while current tenant occupancy supports ongoing income from the commercial and residential components.
The property encompasses 0.59 acres at 1330 N Howe Street in Southport, within Brunswick County and outside the city limits. It carries CO-NC zoning, has public water, and uses septic systems, including shared septic service. Separate parcels provide distinct ownership or development considerations for the buildings, while current tenant occupancy supports ongoing income from the commercial and residential components.
Key Highlights
- Mixed‑use holding with 1 commercial office building and 4 apartments
- 3,300‑square‑foot commercial building currently used as a massage therapy clinic
- Four apartments updated within the past 3 years
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
$41,911
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
3.23%
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%
$838,220
$838.2K
Cap Rate 7%
$598,729
$598.7K
Cap Rate 9%
$465,678
$465.7K
Market Conditions
NOI Build-Up for 3,300 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
$68.9K $20.88/SF
− Vacancy
−$13.0K −$3.95/SF
EGI
$55.9K $16.93/SF
− OpEx
−$14.0K −$4.23/SF
NOI
$41.9K $12.70/SF
Area
Brunswick County, NC
Vacancy
18.90%
Lease Rate
$20.88 /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%
$838,220
Cap Rate 7%
$598,729
Cap Rate 9%
$465,678
Alternative Uses
Best Use
Mixed Use
$39.79M
$34.82M – $46.43M
NOI $2,785,542 @ 7.0% cap · market cap 214.44%
Second Best
Apartment 5plus
$35.02M
$30.64M – $40.85M
NOI $2,451,277 @ 7.0% cap · market cap 188.70%
Theoretical Best
Multifamily LT 5
$40.41M
$35.36M – $47.14M
NOI $2,828,460 @ 7.0% cap · market cap 217.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
484
Businesses Nearby
Explore this area
Business Placement
Demographics for 28461, NC
22,141
Population
14,435
Households
1.5
Avg Household Size
62
Median Age
39%
College-Educated
95%
High-School Grad
75.9 sq mi
ZIP Area
292
Density / Sq Mi
$79,681
Median Household Income
$41,587
Median Earnings
$1,356
Median Rent
$388,800
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?
Mixed-use property - Tenant-occupied commercial and residential buildings on separate parcels outside Southport city limits.
Where is this mixed-use property located?
The property is located at 1330 N Howe Street Southport, NC.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Mixed‑use holding with 1 commercial office building and 4 apartments; 3,300‑square‑foot commercial building currently used as a massage therapy clinic; Four apartments updated within the past 3 years
