Newly Renovated Office
For Sale
Contact for pricing
1508 Military Cutoff Rd Ste 202, Wilmington, NC 28405
Newly renovated Class A suite with reception, break area, six private offices, and an open/cubicle work area.
Property Size3,375 SF
Price / SF$355.56
Days on Market91
Property Features for 1508 Military Cutoff Rd Ste 202
General Information
Standard status
Active
Size
3,375 SF
Class
A
Property subtype
Office
Lease Type
NNN
Building Details
Tenancy
Single
Listing Agency:
Cape Fear Commercial
Listed By:
Hae Ellis · License #NC162602
(910) 232-4744
Source:
Crexi
Added: Jul 11
Changed: Oct 8
Last Checked: Oct 7 at 10:39AM
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 Cape Fear Commercial
Investment Insights
Based on property information with market context.
This newly renovated Class A office suite offers approximately 3,375 rentable square feet and is available for purchase. The space includes a reception and waiting area, a break area, six private offices, a large conference room, a storage area, and a data closet. In addition to the private offices, there is an open or cubicle area and a large work room, providing flexibility for different operational layouts. The suite is offered furnished and ready for immediate occupancy.
Located at 1508 Military Cutoff Road in Suite 202, the offering is positioned within the Landfall/Mayfaire submarket.
Located at 1508 Military Cutoff Road in Suite 202, the offering is positioned within the Landfall/Mayfaire submarket.
Key Highlights
- 3,375 rentable SF newly renovated Class A office space in the Landfall/Mayfaire submarket
- Suite includes a reception/waiting area plus a break area
- Six (6) private offices, a large conference room, and a large work room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,863
Cap Rate
3.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$857,260
$857.3K
Cap Rate 7%
$612,329
$612.3K
Cap Rate 9%
$476,256
$476.3K
Market Conditions
NOI Build-Up for 3,375 SF
Gross rent
$70.5K $20.88/SF
− Vacancy
−$13.3K −$3.95/SF
EGI
$57.2K $16.93/SF
− OpEx
−$14.3K −$4.23/SF
NOI
$42.9K $12.70/SF
Area
Wilmington, 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 Rate 5%
$857,260
Cap Rate 7%
$612,329
Cap Rate 9%
$476,256
Alternative Uses
Best Use
Office B
$612.3K
$535.8K – $714.4K
NOI $42,863 @ 7.0% cap · market cap 3.57%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$41.32M
$36.16M – $48.21M
NOI $2,892,743 @ 7.0% cap · market cap 241.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,274
Businesses Nearby
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Business Placement
Demographics for 28405, NC
31,775
Population
17,073
Households
1.9
Avg Household Size
41
Median Age
41%
College-Educated
91%
High-School Grad
23.5 sq mi
ZIP Area
1,352
Density / Sq Mi
$67,809
Median Household Income
$41,265
Median Earnings
$1,405
Median Rent
$337,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - Newly renovated Class A suite with reception, break area, six private offices, and an open/cubicle work area.
Where is this office units located?
The property is located at 1508 Military Cutoff Rd Ste 202 Wilmington, NC.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 3,375 rentable SF newly renovated Class A office space in the Landfall/Mayfaire submarket; Suite includes a reception/waiting area plus a break area; Six (6) private offices, a large conference room, and a large work room
