Furnished Coworking
For Sale
Contact for pricing
404 N 3rd Street Unit 205, Wilmington, NC 28401
Shared meeting facilities, a kitchenette, on-site parking, and 24-hour building entry support day-to-day business needs.
Property Size225 SF
Price / SF$3.53
Days on Market28
Property Features for 404 N 3rd Street Unit 205
General Information
Standard status
Active
Size
225 SF
Property subtype
Office
Space & Availability
Condition
Move-in Ready
Furnished
Yes
Additional Details
Property Use
Executive Suites
Amenities
shared conference room access
on-site parking
high-speed internet
mailbox/business address
kitchenette
secure 24/7 building access
Building Details
Year Built
1952
Listing Agency:
Aloha Wilmington Real Estate
(910) 262-3399
Listed By:
Christian A Cardamone · License #238762
(910) 792-1523
Source:
Navigaterealty
Added: Oct 8
Changed: Nov 3
Last Checked: Nov 3 at 8:27AM
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 Aloha Wilmington Real Estate
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Investment Insights
Based on property information with market context.
Unit 205 at 404 N 3rd Street offers furnished coworking space within a building constructed in 1952. Amenities include shared conference room access, a kitchenette, on-site parking, high-speed internet, and a mailbox and business address. Building access is available 24 hours a day, seven days a week, and month-to-month terms are offered.
Key Highlights
- Furnished coworking workspace at 404 N 3rd Street, Unit 205
- Shared conference room access and kitchenette
- On‑site parking and high‑speed internet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$2,858
Suggested Prices Based on Cap Rates
Cap Rate 5%
$57,160
$57.2K
Cap Rate 7%
$40,829
$40.8K
Cap Rate 9%
$31,756
$31.8K
Market Conditions
NOI Build-Up for 225 SF
Gross rent
$4.7K $20.88/SF
− Vacancy
−$888 −$3.95/SF
EGI
$3.8K $16.93/SF
− OpEx
−$953 −$4.23/SF
NOI
$2.9K $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%
$57,160
Cap Rate 7%
$40,829
Cap Rate 9%
$31,756
Alternative Uses
Best Use
Office B
$40.8K
$35.7K – $47.6K
NOI $2,858 @ 7.0% cap · market cap 359.50%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.75M
$2.41M – $3.21M
NOI $192,850 @ 7.0% cap · market cap 24,257.86%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
676
Businesses Nearby
Explore this area
Business Placement
Demographics for 28401, NC
22,204
Population
13,017
Households
1.7
Avg Household Size
41
Median Age
34%
College-Educated
88%
High-School Grad
31.0 sq mi
ZIP Area
716
Density / Sq Mi
$52,159
Median Household Income
$35,739
Median Earnings
$1,183
Median Rent
$263,000
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Coworking space - Shared meeting facilities, a kitchenette, on-site parking, and 24-hour building entry support day-to-day business needs.
Where is this coworking space located?
The property is located at 404 N 3rd Street Unit 205 Wilmington, NC.
What are key features of this property?
This property features: Furnished coworking workspace at 404 N 3rd Street, Unit 205; Shared conference room access and kitchenette; On‑site parking and high‑speed internet
