Medical-Ready Office
For Sale
Contact for pricing
Pending
34 Covil Avenue, Wilmington, NC 28403
Move-in ready office building with private offices, conference space, and multiple kitchenette areas plus ample on-site parking.
Property Size3,832 SF
Days on Market255
Property Features for 34 Covil Avenue
General Information
Standard status
Pending
Size
3,832 SF
Property subtype
OFFICE
Amenities
on-site parking
conference rooms
kitchenette areas
Listing Agency:
BlueCoast Commercial, LLC
(910) 279-3227
Listed By:
Steve Hall · License #255181
(910) 279-3227
Source:
Moodyscre
Added: Nov 18, 2025
Changed: Jul 26
Last Checked: Jul 30 at 2:44PM
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 BlueCoast Commercial, LLC
Investment Insights
Based on property information with market context.
This office building at 34 Covil Avenue offers a flexible professional layout designed for a range of office uses. The space includes 13 private offices, an open reception area, two conference rooms, and three kitchenette areas. The building also provides a combination of private and collaborative work settings for day-to-day operations.
The property is located in midtown Wilmington, just off Market Street and Independence Boulevard, with convenient access to downtown Wilmington and other major commercial corridors in the area. Ample on-site parking is available for staff and visitors.
With its ready-to-occupy configuration and defined meeting and work areas, the building can support professional teams looking for multiple offices and conference space in a single location.
The property is located in midtown Wilmington, just off Market Street and Independence Boulevard, with convenient access to downtown Wilmington and other major commercial corridors in the area. Ample on-site parking is available for staff and visitors.
With its ready-to-occupy configuration and defined meeting and work areas, the building can support professional teams looking for multiple offices and conference space in a single location.
Key Highlights
- ±3,832 RSF office building at 34 Covil Avenue in Midtown Wilmington
- Flexible interior layout with 13 private offices, open reception/work area, and conference space
- Includes 2 conference rooms and 3 kitchenette areas
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 | $80.0k | $20.88 |
| − Vacancy | −$15.1k | −$3.95 |
| EGI | $64.9k | $16.93 |
| − OpEx | −$16.2k | −$4.23 |
| NOI | $48.7k | $12.70 |
3,832 SF · lease $20.88/SF/yr · vacancy 18.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$695.2K
$608.3K – $811.1K
NOI $48,667 @ 7.0% cap · market cap 3.89%
Second Best
Healthcare Medical
$463.2K
$405.3K – $540.4K
NOI $32,421 @ 7.0% cap · market cap 2.59%
Theoretical Best
Multifamily LT 5
$46.92M
$41.06M – $54.74M
NOI $3,284,442 @ 7.0% cap · market cap 262.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
584
Businesses Nearby
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?
Office building - Move-in ready office building with private offices, conference space, and multiple kitchenette areas plus ample on-site parking.
Where is this office building located?
The property is located at 34 Covil Avenue Wilmington, NC.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: ±3,832 RSF office building at 34 Covil Avenue in Midtown Wilmington; Flexible interior layout with 13 private offices, open reception/work area, and conference space; Includes 2 conference rooms and 3 kitchenette areas
