Office Unit with
For Sale
$249,000
Pending
3960 Executive Park Boulevard SE, Southport, NC 28461
Commercial Sale, Southport, NC
Property Size1,275 SF
Days on Market256
Property Features for 3960 Executive Park Boulevard SE
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
commercial
Parking features
Parking Lot
Subdivision
St James
Directions
HWY 211 TO SOUTHPORT BUSINESS CENTER PARK ON THE RIGHT. 3960 EXECUTIVE PARK BLVD. UNIT #2
Standard status
Pending
APN
204nc002
Size
1,275 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
Unit-2 Southport Business Cntr II Cb 11/43
Tax Annual Amount
900
Legal Description
Unit-2 Southport Business Cntr II Cb 11/43
Utilities
Utilities
Water Available
Heating system
Heat Pump (Heating), Electric (Heating)
Water source
Public
Amenities
reception area
private offices
open workspace
conference room
kitchenette
private bathroom
storage area
Building Details
Year built
2006
Number of units
1
Building materials
Brick Veneer
Listing Agency:
Ivester Jackson Christie's
(910) 300-5140
Listed By:
Joy Yascone · License #349780
(919) 904-5918
Added: Dec 10, 2025
Changed: Aug 19
Last Checked: Aug 23 at 1:06PM
MLS# 100545253
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This office condominium combines a reception area, conference room, private offices, and an open work area within a flexible professional layout. A kitchenette and private bathroom support daily operations, while built-in shelving and a floating island add practical workspace and storage. The unit also includes ground-level storage with wide garage-door access and additional unfinished upper-level storage space.
The property is situated in a commercial business park environment just off Highway 211, with access to Southport, St. James Plantation, and nearby coastal communities. On-site parking is provided through a parking lot. The building was constructed in 2006 with brick veneer construction, and public water is available.
The property is situated in a commercial business park environment just off Highway 211, with access to Southport, St. James Plantation, and nearby coastal communities. On-site parking is provided through a parking lot. The building was constructed in 2006 with brick veneer construction, and public water is available.
Key Highlights
- Flexible office layout with reception area, conference room, private offices, and open work area
- Ground‑level storage includes wide garage‑door access and heavy‑duty shelving
- Additional unfinished second‑floor area provides storage capacity
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
$16,193
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
6.50%
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%
$323,860
$323.9K
Cap Rate 7%
$231,329
$231.3K
Cap Rate 9%
$179,922
$179.9K
Market Conditions
NOI Build-Up for 1,275 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
$26.6K $20.88/SF
− Vacancy
−$5.0K −$3.95/SF
EGI
$21.6K $16.93/SF
− OpEx
−$5.4K −$4.23/SF
NOI
$16.2K $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%
$323,860
Cap Rate 7%
$231,329
Cap Rate 9%
$179,922
Alternative Uses
Best Use
Office B
$231.3K
$202.4K – $269.9K
NOI $16,193 @ 7.0% cap · market cap 6.50%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$15.61M
$13.66M – $18.21M
NOI $1,092,814 @ 7.0% cap · market cap 438.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway 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 - Commercially zoned office condominium with private offices, collaborative workspace, and dedicated storage access.
Where is this office units located?
The property is located at 3960 Executive Park Boulevard SE 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: Flexible office layout with reception area, conference room, private offices, and open work area; Ground‑level storage includes wide garage‑door access and heavy‑duty shelving; Additional unfinished second‑floor area provides storage capacity
