Leased Retail Condominium
For Sale
$525,000
4107-I Oleander Dr, Wilmington, NC 28403
Retail condominium unit along Oleander Drive, offered for sale with a tenant lease extending through December 2029.
Property Size2,400 SF
Days on Market107
Property Features for 4107-I Oleander Dr
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Retail
Building Details
Building Size
2,400 SF
Year Built
1965
Listing Agency:
The Braddock Group, LLC
Listed By:
Luke Mello · License #339573
(910) 945-9755
Source:
Lee-associates
Added: Jul 3
Changed: Oct 13
Last Checked: Oct 16 at 6:01AM
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 The Braddock Group, LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
4107 Oleander Drive, Unit I is a retail condominium unit offering in Wilmington. The property is presented as an investment asset with an existing tenant in place through December 2029.
The unit is located along Oleander Drive, described as an established commercial corridor and a connector between Downtown Wilmington, Midtown Wilmington, and Wrightsville Beach. The marketing materials note significant daily traffic and convenient access to surrounding retail, medical, and recreational destinations.
This offering is a single unit sale within a retail condominium configuration, totaling 1,694 square feet as provided in the information. The secured lease term provides near-term income stability through the stated expiration date.
The unit is located along Oleander Drive, described as an established commercial corridor and a connector between Downtown Wilmington, Midtown Wilmington, and Wrightsville Beach. The marketing materials note significant daily traffic and convenient access to surrounding retail, medical, and recreational destinations.
This offering is a single unit sale within a retail condominium configuration, totaling 1,694 square feet as provided in the information. The secured lease term provides near-term income stability through the stated expiration date.
Key Highlights
- 1,694 SF retail condominium unit along Oleander Drive
- Leased to an established tenant with lease term through December 2029
- Commercial condominium located in Wilmington’s Midtown commercial corridor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,689
Cap Rate
4.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$473,780
$473.8K
Cap Rate 7%
$338,414
$338.4K
Cap Rate 9%
$263,211
$263.2K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$37.7K $15.72/SF
− Vacancy
−$3.9K −$1.62/SF
EGI
$33.8K $14.10/SF
− OpEx
−$10.2K −$4.23/SF
NOI
$23.7K $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 Rate 5%
$473,780
Cap Rate 7%
$338,414
Cap Rate 9%
$263,211
Alternative Uses
Best Use
Retail
$338.4K
$296.1K – $394.8K
NOI $23,689 @ 7.0% cap · market cap 4.51%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$29.39M
$25.71M – $34.28M
NOI $2,057,062 @ 7.0% cap · market cap 391.82%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,678
Businesses Nearby
Under-served
Demand for This Use
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 Retail in South region
Frequently Asked Questions
What type of property is this?
Storefront property - Retail condominium unit along Oleander Drive, offered for sale with a tenant lease extending through December 2029.
Where is this storefront property located?
The property is located at 4107-I Oleander Dr Wilmington, NC.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 1,694 SF retail condominium unit along Oleander Drive; Leased to an established tenant with lease term through December 2029; Commercial condominium located in Wilmington’s Midtown commercial corridor
