Storefront Flex
For Sale
$750,000
1702 S Madison St, Whiteville, NC 28472
The building is currently used for cabinet making and previously operated as a restaurant.
Property Size5,700 SF
Price / SF$131.58
Days on Market77
Property Features for 1702 S Madison St
General Information
Standard status
Active
Size
5,700 SF
Building Details
Year Built
1981
Listing Agency:
Chicora Advantage, LLC dba Coldwell Banker Sea Coast Advantage
Listed By:
Eric A. Galvin · License #362829
(843) 855-3361
Source:
Barefootbrokers
Added: Jul 21
Changed: Sep 13
Last Checked: Oct 4 at 10:57AM
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 Chicora Advantage, LLC dba Coldwell Banker Sea Coast Advantage
Investment Insights
Based on property information with market context.
Built in 1981, this 5,700-square-foot flex space has a storefront-oriented configuration and is currently used for cabinet making. The property previously operated as a restaurant, providing two documented commercial use histories for evaluating the existing improvements.
Located at 1702 S Madison St in Whiteville, North Carolina, the property experiences traffic exposure along three sides. An adjacent lot to the left of the building is also available for purchase, offering an additional property component for consideration.
Located at 1702 S Madison St in Whiteville, North Carolina, the property experiences traffic exposure along three sides. An adjacent lot to the left of the building is also available for purchase, offering an additional property component for consideration.
Key Highlights
- 5,700 SF flex space with storefront configuration
- Current cabinet‑making use
- Previously operated as a restaurant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,804
Cap Rate
9.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,376,080
$1.4M
Cap Rate 7%
$982,914
$982.9K
Cap Rate 9%
$764,489
$764.5K
Market Conditions
NOI Build-Up for 5,700 SF
Gross rent
$102.6K $18.00/SF
− Vacancy
−$4.3K −$0.76/SF
EGI
$98.3K $17.24/SF
− OpEx
−$29.5K −$5.17/SF
NOI
$68.8K $12.07/SF
Area
Columbus County, NC
Vacancy
4.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,376,080
Cap Rate 7%
$982,914
Cap Rate 9%
$764,489
Alternative Uses
Best Use
Retail
$982.9K
$860.1K – $1.15M
NOI $68,804 @ 7.0% cap · market cap 9.17%
Second Best
Flex RnD
$944.0K
$826.0K – $1.10M
NOI $66,081 @ 7.0% cap · market cap 8.81%
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,789 @ 7.0% cap · market cap 12.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
330
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28472, NC
17,308
Population
8,073
Households
2.1
Avg Household Size
44
Median Age
18%
College-Educated
91%
High-School Grad
197.9 sq mi
ZIP Area
87
Density / Sq Mi
$48,963
Median Household Income
$36,535
Median Earnings
$788
Median Rent
$141,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - The building is currently used for cabinet making and previously operated as a restaurant.
Where is this flex space located?
The property is located at 1702 S Madison St Whiteville, NC.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 5,700 SF flex space with storefront configuration; Current cabinet‑making use; Previously operated as a restaurant
