Corner-Lot Flex
For Sale
$895,000
7011 Beach Drive SW, Ocean Isle Beach, NC 28469
Commercial Sale, Ocean Isle Beach, NC
Property Size4,000 SF
Lot Size0.38 Acres
Price / SF$223.75
Days on Market483
Property Features for 7011 Beach Drive SW
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Co-Cld
Subdivision
Not In Subdivision
Lot features
Corner Lot
Directions
From Hwy 17 head 3.6 miles south on NC-904 E/Seaside Rd SW towards Sunset Beach. At second stoplight turn left on Beach Dr. towards Ocean Isle Beach. Property will be located 0.7 miles on the right side of the road on the corner of Beach Dr. and Kittrell Dr.
Standard status
Active
APN
243id139
Size
4,000 SF
Lot size
0.38 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
L-108 OCEAN VIEW LANDING SUBD PLAT 15/44
Tax Annual Amount
1409
Legal Description
L-108 OCEAN VIEW LANDING SUBD PLAT 15/44
Utilities
Utilities
Water Available
Sewer type
Septic Tank
Heating system
Electric (Heating), Forced Air, Heat Pump (Heating)
Cooling system
Heat Pump, Central Air
Water source
Public
Building Details
Year built
1983
Listing Agency:
Coldwell Banker Sloane Realty OIB · Coldwell Banker Real Estate
(910) 579-1144
Listed By:
Karen P Jones · License #332799
(910) 612-2203
Added: May 8, 2025
Changed: Aug 20
Last Checked: Sep 2 at 4:06AM
MLS# 100506514
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 4,000-square-foot flex property, built in 1983, combines showroom and office areas with conditioned warehouse space. The building is configured as two separately metered units, with each unit providing a private entrance, bathroom, and HVAC system. The rear warehouse can be reached through a side entrance or garage door, and the rear area is enclosed by fencing.
Positioned on a corner lot along Beach Drive, the property sits on the corridor connecting Ocean Isle Beach and Sunset Beach. The 0.377-acre site has public water available and a septic tank. The rear portion is leased through 1/31/2026, with additional details available under NDA.
Positioned on a corner lot along Beach Drive, the property sits on the corridor connecting Ocean Isle Beach and Sunset Beach. The 0.377-acre site has public water available and a septic tank. The rear portion is leased through 1/31/2026, with additional details available under NDA.
Key Highlights
- 4,000 square feet of flex space on a 0.377‑acre site
- Showroom, office, and conditioned warehouse areas within one building
- Two separately metered units, each with an entrance, bathroom, and HVAC system
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
$50,801
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
5.68%
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%
$1,016,020
$1.0M
Cap Rate 7%
$725,729
$725.7K
Cap Rate 9%
$564,456
$564.5K
Market Conditions
NOI Build-Up for 4,000 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
$83.5K $20.88/SF
− Vacancy
−$15.8K −$3.95/SF
EGI
$67.7K $16.93/SF
− OpEx
−$16.9K −$4.23/SF
NOI
$50.8K $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%
$1,016,020
Cap Rate 7%
$725,729
Cap Rate 9%
$564,456
Alternative Uses
Best Use
Office B
$725.7K
$635.0K – $846.7K
NOI $50,801 @ 7.0% cap · market cap 5.68%
Second Best
Warehouse
$707.7K
$619.2K – $825.7K
NOI $49,539 @ 7.0% cap · market cap 5.54%
Theoretical Best
Multifamily LT 5
$48.98M
$42.86M – $57.14M
NOI $3,428,436 @ 7.0% cap · market cap 383.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
196
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 28469, NC
8,171
Population
8,730
Households
0.9
Avg Household Size
63
Median Age
39%
College-Educated
95%
High-School Grad
25.7 sq mi
ZIP Area
318
Density / Sq Mi
$87,285
Median Household Income
$41,936
Median Earnings
$948
Median Rent
$413,200
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?
Flex space - Versatile commercial building combines showroom and office areas with conditioned warehouse space and separately metered units.
Where is this flex space located?
The property is located at 7011 Beach Drive SW Ocean Isle Beach, NC.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: 4,000 square feet of flex space on a 0.377‑acre site; Showroom, office, and conditioned warehouse areas within one building; Two separately metered units, each with an entrance, bathroom, and HVAC system
