Leased Retail Condominium
4701-I Oleander Dr Wilmington, NC 28403
For Sale
Contact for pricing
Retail condominium unit along Oleander Drive, offered for sale with a tenant lease extending through December 2029.
Property Size1,694 SF
Price / SF$309.92
Days on Market24
Property Features for 4701-I Oleander Dr
General Information
- Standard status
- Active
- Size
- 1,694 SF
- Property subtype
- Retail
Listing Agency:
Lee & Associates - Wilmington
Listed By:
Sandy Thorpe · License #296845
Source:
Crexi
Added: Jul 1
Changed: Jul 23
Last Checked: Jul 23 at 2:50PM
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 Lee & Associates - Wilmington
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 For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $26.6k | $15.72 |
| − Vacancy | −$2.7k | −$1.62 |
| EGI | $23.9k | $14.10 |
| − OpEx | −$7.2k | −$4.23 |
| NOI | $16.7k | $9.87 |
1,694 SF · lease $15.72/SF/yr · vacancy 10.30% · expense 30.00%
Alternative Uses
Best Use
Retail
$238.9K
$209.0K – $278.7K
NOI $16,721 @ 7.0% cap · market cap 3.18%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$20.74M
$18.15M – $24.20M
NOI $1,451,943 @ 7.0% cap · market cap 276.56%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Storefront properties
FAQs
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 4701-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
