Office Unit with Ground-Level
For Sale
$249,000
3960 Executive Park SE #2, Southport, NC 28461
Flexible condominium workspace includes reception, private offices, collaboration area, kitchen, and parking for staff and visitors.
Property Size1,280 SF
Price / SF$194.53
Days on Market264
Property Features for 3960 Executive Park SE #2
General Information
Standard status
Active
Size
1,280 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Asking Price
$289,000
Amenities
Additional Parking
Electric Heating
Heat Pump Heating
Heating Heating
Parking Lot
Paved
Building Details
Year Built
2006
Listing Agency:
IVESTER JACKSON CHRISTIE'S
(919) 904-5918
Listed By:
JOY YASCONE · License #349780
Source:
Corcoran
Added: Dec 10, 2025
Changed: Aug 30
Last Checked: Aug 30 at 3:21PM
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 IVESTER JACKSON CHRISTIE'S
Investment Insights
Based on property information with market context.
This 1,280-square-foot office condominium, built in 2006, combines a reception area, presentation or conference room, two private offices, and an open work area. Built-in shelving and storage are incorporated into the workspace, while the kitchen supports routine staff use and client meetings. A ground-level storage area has a wide garage door for loading and unloading, and unfinished second-floor space provides additional storage capacity.
The property is located at 3960 Executive Park SE #2 in Southport, with access just off Highway 211. The business park setting includes established offices and service users, and the location provides access to Southport, St. James Plantation, and nearby coastal communities. On-site parking serves staff and clients.
The property is located at 3960 Executive Park SE #2 in Southport, with access just off Highway 211. The business park setting includes established offices and service users, and the location provides access to Southport, St. James Plantation, and nearby coastal communities. On-site parking serves staff and clients.
Key Highlights
- Approximately 1,280 sq ft of office condominium space
- Two private offices plus open work area and reception space
- Ground‑level storage with wide garage door access
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
$16,256
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
6.53%
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%
$325,120
$325.1K
Cap Rate 7%
$232,229
$232.2K
Cap Rate 9%
$180,622
$180.6K
Market Conditions
NOI Build-Up for 1,280 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
$26.7K $20.88/SF
− Vacancy
−$5.1K −$3.95/SF
EGI
$21.7K $16.93/SF
− OpEx
−$5.4K −$4.23/SF
NOI
$16.3K $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%
$325,120
Cap Rate 7%
$232,229
Cap Rate 9%
$180,622
Alternative Uses
Best Use
Office B
$232.2K
$203.2K – $270.9K
NOI $16,256 @ 7.0% cap · market cap 6.53%
Second Best
Healthcare Medical
$154.7K
$135.4K – $180.5K
NOI $10,829 @ 7.0% cap · market cap 4.35%
Theoretical Best
Multifamily LT 5
$15.67M
$13.71M – $18.28M
NOI $1,097,099 @ 7.0% cap · market cap 440.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
116
Businesses Nearby
Explore this area
Business Placement
Demographics for 28461, NC
22,141
Population
14,435
Households
1.5
Avg Household Size
62
Median Age
39%
College-Educated
95%
High-School Grad
75.9 sq mi
ZIP Area
292
Density / Sq Mi
$79,681
Median Household Income
$41,587
Median Earnings
$1,356
Median Rent
$388,800
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 units - Flexible condominium workspace includes reception, private offices, collaboration area, kitchen, and parking for staff and visitors.
Where is this office units located?
The property is located at 3960 Executive Park SE #2 Southport, NC.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Approximately 1,280 sq ft of office condominium space; Two private offices plus open work area and reception space; Ground‑level storage with wide garage door access
