Highway 17 Corner Commercial
For Sale
Contact for pricing
2556 Ocean Highway West, Shallotte, NC 28470
1.36 acre corner site with high visibility and traffic.
Property Size2,304 SF
Lot Size1.36 Acres
Price / SF$368.92
Days on Market206
Property Features for 2556 Ocean Highway West
General Information
Standard status
Active
Size
2,304 SF
Lot size
1.36 Acres
Property subtype
Retail, Industrial
Zoning
CO-CLD
Building Details
Stories
1
Listing Agency:
Sun Coast Partners Commercial
(910) 350-1200
Listed By:
Anne Adams · License #NC
Source:
Crexi
Added: Jan 27
Changed: Aug 15
Last Checked: Aug 20 at 5:58PM
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 Sun Coast Partners Commercial
Investment Insights
Based on property information with market context.
This 1.36± acre corner site is located along Highway 17 and offers visibility, access, and exposure. Situated near the HWY 17/Main Street intersection in Shallotte, the property benefits from over 35,000 vehicles per day. The site features approximately 500 feet of frontage on Highway 17 and an additional 200 feet of frontage on Royal Oak Road. Two curb cuts on Highway 17 and one on Royal Oak Road allow for circulation and ease of ingress and egress. Improvements include a 2,304± SF two bay commercial building, a 1,865± SF mobile home, and a separate garage. The shop features two high-cycle bay garage doors and three separate entrances. Zoned CO-CLD, the site is suited for a range of uses including retail, service commercial, medical or professional office, automotive oriented uses, contractor services, showroom, mixed use concepts, or redevelopment for higher intensity commercial applications. The corner configuration, frontage, and traffic counts make it attractive for users requiring visibility and signage exposure. The surrounding trade area experiences steady growth. This offering combines corner positioning, scale, improvements, zoning flexibility, and Highway 17 exposure.
Key Highlights
- Prime 1.36± acre corner site with exceptional visibility and 500 feet of frontage on Highway 17.**
- High traffic location with over 35,000 vehicles per day on Highway 17.
- Zoned CO‑CLD, suitable for a broad range of uses including retail, office, automotive, and mixed‑use.
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
$29,261
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
3.44%
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%
$585,220
$585.2K
Cap Rate 7%
$418,014
$418.0K
Cap Rate 9%
$325,122
$325.1K
Market Conditions
NOI Build-Up for 2,304 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
$48.1K $20.88/SF
− Vacancy
−$9.1K −$3.95/SF
EGI
$39.0K $16.93/SF
− OpEx
−$9.8K −$4.23/SF
NOI
$29.3K $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%
$585,220
Cap Rate 7%
$418,014
Cap Rate 9%
$325,122
Alternative Uses
Best Use
Office B
$418.0K
$365.8K – $487.7K
NOI $29,261 @ 7.0% cap · market cap 3.44%
Second Best
Industrial
$335.7K
$293.7K – $391.7K
NOI $23,499 @ 7.0% cap · market cap 2.76%
Theoretical Best
Multifamily LT 5
$28.21M
$24.68M – $32.91M
NOI $1,974,779 @ 7.0% cap · market cap 232.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
69
Businesses Nearby
Explore this area
Business Placement
Demographics for 28470, NC
11,141
Population
6,123
Households
1.8
Avg Household Size
48
Median Age
22%
College-Educated
90%
High-School Grad
44.7 sq mi
ZIP Area
249
Density / Sq Mi
$68,043
Median Household Income
$37,563
Median Earnings
$1,060
Median Rent
$252,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail property - 1.36 acre corner site with high visibility and traffic.
Where is this retail property located?
The property is located at 2556 Ocean Highway West Shallotte, NC.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Prime 1.36± acre corner site with exceptional visibility and 500 feet of frontage on Highway 17.**; High traffic location with over 35,000 vehicles per day on Highway 17.; Zoned CO‑CLD, suitable for a broad range of uses including retail, office, automotive, and mixed‑use.
