Duplex-Style Office
1815 Carolina Beach Rd Wilmington, NC 28401
For Sale
Contact for pricing
Duplex office building with basement space and Commercial Services zoning for flexible professional and service uses.
Property Size1,880 SF
Price / SF$284.57
Days on Market54
Property Features for 1815 Carolina Beach Rd
General Information
Standard status
Active
Size
1,880 SF
Property subtype
OFFICE
Listing Agency:
Oleander Real Estate LLC
(910) 616-3435
Listed By:
Loren Baysden · License #292142
(910) 616-3435
Source:
Moodyscre
Added: Jun 4
Changed: Jul 10
Last Checked: Jul 21 at 8:35AM
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 Oleander Real Estate LLC
Investment Insights
Based on property information with market context.
This 1930s cottage-style commercial property is configured in a duplex-style layout, offering space that can be used as a single-tenant setup or divided into two separate offices. The main level has been used for professional services, including an architectural firm and interior design business. In addition, there is approximately 500+ square feet of heated and cooled basement/cellar space that can support storage, workspace, or supplemental operations.
The property is positioned along a high-traffic route with approximately 34,500 vehicles passing daily, providing visibility for a range of business types. The upper level is currently occupied by a tenant and has historically generated rental income. The property is zoned Commercial Services (CS). A 30' easement is noted for access to the adjacent property.
With its duplex configuration, heated and cooled supplemental space, and CS zoning allowing a broad range of commercial uses, the building can fit a single operator looking for added back-of-house space or an owner seeking to occupy one side while the other side remains tenant-occupied. Future area improvements are underway as the NCDOT enhances the Front Street, Third Street, and Carolina Beach Road intersection with upgraded traffic flow and pedestrian-friendly sidewalks.
The property is positioned along a high-traffic route with approximately 34,500 vehicles passing daily, providing visibility for a range of business types. The upper level is currently occupied by a tenant and has historically generated rental income. The property is zoned Commercial Services (CS). A 30' easement is noted for access to the adjacent property.
With its duplex configuration, heated and cooled supplemental space, and CS zoning allowing a broad range of commercial uses, the building can fit a single operator looking for added back-of-house space or an owner seeking to occupy one side while the other side remains tenant-occupied. Future area improvements are underway as the NCDOT enhances the Front Street, Third Street, and Carolina Beach Road intersection with upgraded traffic flow and pedestrian-friendly sidewalks.
Key Highlights
- Approximately 34,500 vehicles pass daily on the high‑traffic route for strong storefront exposure
- Duplex‑style commercial building with about 1,880 SF main level for one user or two separate tenants
- 500+ SF heated and cooled basement/cellar space for storage, workspace, or supplemental operations
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 | $39.3k | $20.88 |
| − Vacancy | −$7.4k | −$3.95 |
| EGI | $31.8k | $16.93 |
| − OpEx | −$8.0k | −$4.23 |
| NOI | $23.9k | $12.70 |
1,880 SF · lease $20.88/SF/yr · vacancy 18.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$341.1K
$298.5K – $397.9K
NOI $23,876 @ 7.0% cap · market cap 4.46%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$23.02M
$20.14M – $26.86M
NOI $1,611,365 @ 7.0% cap · market cap 301.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office units - Duplex office building with basement space and Commercial Services zoning for flexible professional and service uses.
Where is this office units located?
The property is located at 1815 Carolina Beach Rd Wilmington, NC.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: Approximately 34,500 vehicles pass daily on the high‑traffic route for strong storefront exposure; Duplex‑style commercial building with about 1,880 SF main level for one user or two separate tenants; 500+ SF heated and cooled basement/cellar space for storage, workspace, or supplemental operations
