Newly Renovated Office
1508 Military Cutoff Road Suite 202 Wilmington, NC 28405
New
1508 Military Cutoff Road Suite 202, Wilmington, NC, 28405
Contact for pricing
For Sale
Contact for pricing
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 Market7
Property Features for 1508 Military Cutoff Road Suite 202
General Information
- Standard status
- Active
- Size
- 3,375 SF
- Property subtype
- Office
Listing Agency
Cape Fear Commercial
Listed by
Hae Ellis · License #NC162602
Source
Crexi
Added: Jul 11 Checked: Jul 15 at 2:59 am
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
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $70.5k | $20.88 |
| − Vacancy | −$13.3k | −$3.95 |
| EGI | $57.2k | $16.93 |
| − OpEx | −$14.3k | −$4.23 |
| NOI | $42.9k | $12.70 |
3,375 SF · lease $20.88/SF/yr · vacancy 18.90% · expense 25.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Antonio E. Puente ...
Physician
Silver Reuben J ...
Physician
Awakening Wellness Professional ...
Psychotherapist
James E Moore ...
Insurance Agency
Mac Donald Law ...
Law Firm
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FAQs
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 Road Suite 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
