Office/Warehouse Drive-In
For Sale
Contact for pricing
44 Perkins Dr, Hampstead, NC 28443
Two office/warehouse buildings with front-load grade level drive-in doors and municipal water and sewer service.
Property Size5,040 SF
Lot Size1.35 Acres
Price / SF$237.90
Days on Market134
Property Features for 44 Perkins Dr
General Information
Standard status
Active
Size
5,040 SF
Lot size
1.35 Acres
Property subtype
INDUSTRIAL
Zoning
C-3
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Warehouse & Industrial
Clear Height
20 ft
Drive-In Doors
2
Listing Agency:
Cape Fear Commercial, LLC
(910) 344-1000
Listed By:
Will Leonard · License #214347
(910) 233-5351
Source:
Moodyscre
Added: Apr 30
Changed: Sep 8
Last Checked: Sep 10 at 10:35AM
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 Cape Fear Commercial, LLC
Investment Insights
Based on property information with market context.
Two office/warehouse buildings are available for sale at 44 & 46 Perkins Drive, Hampstead, NC, fronting US Highway 17N near the intersection with Perkins Road. Each building is 5,040 SF on a combined 1.35 +/- acre lot zoned C-3 by the Town of Surf City.
One building will be delivered with a private office, open reception area, and one restroom. The second building will be delivered in finished shell condition with no interior upfit, giving the buyer flexibility for a custom office buildout.
Both buildings include two 12’ W x 14’ H grade level drive-in doors with front-load access. Estimated eave heights are approximately 20’, and the project is scheduled for delivery in Fall 2026. Municipal water and sewer are provided by Pender County, NC.
One building will be delivered with a private office, open reception area, and one restroom. The second building will be delivered in finished shell condition with no interior upfit, giving the buyer flexibility for a custom office buildout.
Both buildings include two 12’ W x 14’ H grade level drive-in doors with front-load access. Estimated eave heights are approximately 20’, and the project is scheduled for delivery in Fall 2026. Municipal water and sewer are provided by Pender County, NC.
Key Highlights
- Two office/warehouse buildings on a total 1.35+/- AC lot fronting US Highway 17N at Perkins Road near Holly Ridge
- Each building is 5,040 SF, with C‑3 zoning by the Town of Surf City
- Buildings include two 12’ W x 14’ H grade level drive‑in doors with front‑load 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
$62,420
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
5.21%
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%
$1,248,400
$1.2M
Cap Rate 7%
$891,714
$891.7K
Cap Rate 9%
$693,556
$693.6K
Market Conditions
NOI Build-Up for 5,040 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
$78.6K $15.60/SF
− Vacancy
−$5.2K −$1.03/SF
EGI
$73.4K $14.57/SF
− OpEx
−$11.0K −$2.19/SF
NOI
$62.4K $12.38/SF
Area
Pender County, NC
Vacancy
6.60%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
15.00%
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%
$1,248,400
Cap Rate 7%
$891,714
Cap Rate 9%
$693,556
Alternative Uses
Best Use
Warehouse
$891.7K
$780.3K – $1.04M
NOI $62,420 @ 7.0% cap · market cap 5.21%
Second Best
Industrial
$734.3K
$642.6K – $856.7K
NOI $51,404 @ 7.0% cap · market cap 4.29%
Theoretical Best
Multifamily LT 5
$61.71M
$54.00M – $72.00M
NOI $4,319,829 @ 7.0% cap · market cap 360.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
20 ft
Clear height
2
Drive-in doors
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
19
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28443, NC
25,074
Population
11,276
Households
2.2
Avg Household Size
42
Median Age
40%
College-Educated
94%
High-School Grad
145.8 sq mi
ZIP Area
172
Density / Sq Mi
$89,392
Median Household Income
$45,933
Median Earnings
$1,372
Median Rent
$356,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Two office/warehouse buildings with front-load grade level drive-in doors and municipal water and sewer service.
Where is this flex space located?
The property is located at 44 Perkins Dr Hampstead, NC.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Two office/warehouse buildings on a total 1.35+/- AC lot fronting US Highway 17N at Perkins Road near Holly Ridge; Each building is 5,040 SF, with C‑3 zoning by the Town of Surf City; Buildings include two 12’ W x 14’ H grade level drive‑in doors with front‑load access
