Two-Level Office
For Sale
Contact for pricing
4002-4004 Oleander Dr, Wilmington, NC 28403
The two-floor layout includes seven offices, three bathrooms, and lobby areas, with potential for division into separate units.
Property Size1,568 SF
Price / SF$206.63
Days on Market16
Property Features for 4002-4004 Oleander Dr
General Information
Standard status
Active
Size
1,568 SF
Property subtype
OFFICE
Site & Location
Neighborhood
Audobon / Devon Park
Additional Details
HOA Fee
$475
Office Units
1
Tenant in Place
Yes
Property Use
Office
Building Details
Tenancy
Single
Listing Agency:
Sol Property Group LLC
Listed By:
Lee Anne Rouse
(910) 540-0282
Source:
Moodyscre
Added: Oct 20
Changed: Oct 31
Last Checked: Nov 3 at 9:38AM
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 Sol Property Group LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,568-square-foot office condominium at 4002-4004 Oleander Dr in Wilmington spans two levels. The first floor contains an entry lobby, four offices, and two bathrooms. Upstairs, a second lobby and conference area accompany three offices and one bathroom. The layout may be reconfigured into two separate units. The current tenant is expected to vacate soon.
The property is situated among retail businesses and restaurants, providing a mix of nearby commercial services and dining options.
The property is situated among retail businesses and restaurants, providing a mix of nearby commercial services and dining options.
Key Highlights
- 1,568 square feet across two levels
- Seven offices and three bathrooms
- First floor has four offices, an entry lobby, and two bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,914
Cap Rate
6.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$398,280
$398.3K
Cap Rate 7%
$284,486
$284.5K
Cap Rate 9%
$221,267
$221.3K
Market Conditions
NOI Build-Up for 1,568 SF
Gross rent
$32.7K $20.88/SF
− Vacancy
−$6.2K −$3.95/SF
EGI
$26.6K $16.93/SF
− OpEx
−$6.6K −$4.23/SF
NOI
$19.9K $12.70/SF
Area
Wilmington, 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 Rate 5%
$398,280
Cap Rate 7%
$284,486
Cap Rate 9%
$221,267
Alternative Uses
Best Use
Office B
$284.5K
$248.9K – $331.9K
NOI $19,914 @ 7.0% cap · market cap 6.15%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$19.20M
$16.80M – $22.40M
NOI $1,343,947 @ 7.0% cap · market cap 414.80%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,739
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
Frequently Asked Questions
What type of property is this?
Office unit - The two-floor layout includes seven offices, three bathrooms, and lobby areas, with potential for division into separate units.
Where is this office unit located?
The property is located at 4002-4004 Oleander Dr Wilmington, NC.
What is the asking price?
The asking price for this property is $324,000.
What are key features of this property?
This property features: 1,568 square feet across two levels; Seven offices and three bathrooms; First floor has four offices, an entry lobby, and two bathrooms
