Medical Office Condominium with Wet Exam
For Sale
Contact for pricing
Pending
1717 Shipyard Blvd, Wilmington, NC 28403
Medical office condominium with four wet exam rooms, nurse’s station, and zoning split between RB and O&I.
Property Size2,737 SF
Days on Market73
Property Features for 1717 Shipyard Blvd
General Information
Standard status
Pending
Size
2,737 SF
Property subtype
OFFICE
Zoning
RB, O&I
Listing Agency:
Cape Fear Commercial, LLC
(910) 233-5351
Listed By:
William Leonard
(910) 233-5351
Source:
Moodyscre
Added: May 19
Changed: Jul 30
Last Checked: Jul 30 at 9:12AM
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, LLC
Investment Insights
Based on property information with market context.
±2,737 SF medical/office condominium in the Summit Center, near the corner of Shipyard Boulevard and 17th Street in Wilmington. The space is scheduled to be available for occupancy approximately August 1, 2026.
Inside, the layout includes four wet exam rooms with counters and sinks, a nurse’s station, a large corner office, and a break area. Additional space includes a smaller admin office, a receptionist area with file storage, a large waiting room, two restrooms, and one storage closet.
The property is zoned partially RB (Regional Business) and partially O&I (Office & Institutional) by the City of Wilmington. This mix of rooms and zoning supports medical and professional office use within the medical community setting.
Inside, the layout includes four wet exam rooms with counters and sinks, a nurse’s station, a large corner office, and a break area. Additional space includes a smaller admin office, a receptionist area with file storage, a large waiting room, two restrooms, and one storage closet.
The property is zoned partially RB (Regional Business) and partially O&I (Office & Institutional) by the City of Wilmington. This mix of rooms and zoning supports medical and professional office use within the medical community setting.
Key Highlights
- ±2,737 SF medical/office condominium in the Summit Center
- Four wet exam rooms with counters and sinks
- Available for occupancy approximately August 1, 2026
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 | $57.1k | $20.88 |
| − Vacancy | −$10.8k | −$3.95 |
| EGI | $46.3k | $16.93 |
| − OpEx | −$11.6k | −$4.23 |
| NOI | $34.8k | $12.70 |
2,737 SF · lease $20.88/SF/yr · vacancy 18.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$496.6K
$434.5K – $579.4K
NOI $34,761 @ 7.0% cap · market cap 4.37%
Second Best
Healthcare Medical
$330.8K
$289.5K – $385.9K
NOI $23,156 @ 7.0% cap · market cap 2.91%
Theoretical Best
Multifamily LT 5
$33.51M
$29.32M – $39.10M
NOI $2,345,907 @ 7.0% cap · market cap 295.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
674
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 28403, NC
38,134
Population
20,424
Households
1.9
Avg Household Size
30
Median Age
48%
College-Educated
94%
High-School Grad
14.0 sq mi
ZIP Area
2,724
Density / Sq Mi
$50,988
Median Household Income
$30,991
Median Earnings
$1,293
Median Rent
$337,600
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?
Medical Office Space - Medical office condominium with four wet exam rooms, nurse’s station, and zoning split between RB and O&I.
Where is this medical office space located?
The property is located at 1717 Shipyard Blvd Wilmington, NC.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: ±2,737 SF medical/office condominium in the Summit Center; Four wet exam rooms with counters and sinks; Available for occupancy approximately August 1, 2026
