Mixed-Use Property with
New
For Sale
$325,000
3521 Carolina Beach Road, Wilmington, NC 28412
The residential and commercial property includes on-site parking along Carolina Beach Road.
Property Size1,952 SF
Price / SF$166.50
Days on Market1
Property Features for 3521 Carolina Beach Road
General Information
Standard status
Active
Size
1,952 SF
Property subtype
Commercial
Zoning
CB
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$1,066
Building Details
Year Built
1945
Listing Agency:
HomeSmart Connections
Listed By:
Anna Haluch
(910) 553-6814
Source:
Hamiltonrealtygroupnc
Added: Oct 1
Last Checked: Oct 1 at 2:30PM
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 HomeSmart Connections
Investment Insights
Based on property information with market context.
This mixed-use property combines residential and commercial components in a building of approximately 1,952 square feet. Constructed in 1945, it has a storefront and on-site parking, with CB zoning.
The property fronts Carolina Beach Road, a major Wilmington corridor with established businesses and residential communities nearby. The corridor provides access to downtown Wilmington and major highways.
The property fronts Carolina Beach Road, a major Wilmington corridor with established businesses and residential communities nearby. The corridor provides access to downtown Wilmington and major highways.
Key Highlights
- Approximately 1,952‑square‑foot building
- CB zoning
- On‑site parking
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
$19,267
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
5.93%
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%
$385,340
$385.3K
Cap Rate 7%
$275,243
$275.2K
Cap Rate 9%
$214,078
$214.1K
Market Conditions
NOI Build-Up for 1,952 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
$30.7K $15.72/SF
− Vacancy
−$3.2K −$1.62/SF
EGI
$27.5K $14.10/SF
− OpEx
−$8.3K −$4.23/SF
NOI
$19.3K $9.87/SF
Area
Wilmington, NC
Vacancy
10.30%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
30.00%
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%
$385,340
Cap Rate 7%
$275,243
Cap Rate 9%
$214,078
Alternative Uses
Best Use
Mixed Use
$23.54M
$20.60M – $27.46M
NOI $1,647,690 @ 7.0% cap · market cap 506.98%
Second Best
Retail
$275.2K
$240.8K – $321.1K
NOI $19,267 @ 7.0% cap · market cap 5.93%
Theoretical Best
Multifamily LT 5
$23.90M
$20.91M – $27.88M
NOI $1,673,077 @ 7.0% cap · market cap 514.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
558
Businesses Nearby
Explore this area
Business Placement
Demographics for 28412, NC
42,758
Population
20,704
Households
2.1
Avg Household Size
43
Median Age
41%
College-Educated
93%
High-School Grad
22.3 sq mi
ZIP Area
1,917
Density / Sq Mi
$67,396
Median Household Income
$40,351
Median Earnings
$1,326
Median Rent
$342,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The residential and commercial property includes on-site parking along Carolina Beach Road.
Where is this mixed-use property located?
The property is located at 3521 Carolina Beach Road Wilmington, NC.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Approximately 1,952‑square‑foot building; CB zoning; On‑site parking
