Office Unit with Alley
For Sale
$550,000
5013 Oleander Drive, Wilmington, NC 28403
ROD-zoned modular building with potential for multiple office configurations.
Property Size2,052 SF
Price / SF$268.03
Days on Market47
Property Features for 5013 Oleander Drive
General Information
Standard status
Active
Size
2,052 SF
Total Parking Spaces
10
Property subtype
Commercial
Zoning
ROD
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$3,212
Amenities
Carpet,Vinyl
No
Yes
Electric
Access Only
Public
0.46
10.0
100 x 200
Vinyl Siding
Off Street
Crawl Space
Alley,City Street,State Road
2052.0
Building Details
Year Built
2002
Construction
modular
Listing Agency:
United Country Forbes Realty & Auctions LLC
(912) 233-6000
Listed By:
Hope Farrer
Source:
Baystreetrealtygroup
Added: Sep 5
Changed: Oct 21
Last Checked: Oct 20 at 6:17PM
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 United Country Forbes Realty & Auctions LLC
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Investment Insights
Based on property information with market context.
Located at 5013 Oleander Drive in Wilmington, this 2,052-square-foot modular building was constructed in 2002 and offers a flexible office-oriented layout. The property includes a large rear yard, with access provided from an alley, and the building may be adapted into multiple office areas.
The 0.46-acre parcel measures approximately 100 by 200 feet and is served by access from the alley, city street, and state road. ROD zoning supports the property’s office classification, while the existing modular construction provides a practical foundation for repositioning as office units or other supported commercial space.
The 0.46-acre parcel measures approximately 100 by 200 feet and is served by access from the alley, city street, and state road. ROD zoning supports the property’s office classification, while the existing modular construction provides a practical foundation for repositioning as office units or other supported commercial space.
Key Highlights
- 2,052‑square‑foot modular building constructed in 2002
- 0.46‑acre parcel measuring approximately 100 x 200 feet
- ROD zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,061
Cap Rate
4.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$521,220
$521.2K
Cap Rate 7%
$372,300
$372.3K
Cap Rate 9%
$289,567
$289.6K
Market Conditions
NOI Build-Up for 2,052 SF
Gross rent
$42.8K $20.88/SF
− Vacancy
−$8.1K −$3.95/SF
EGI
$34.7K $16.93/SF
− OpEx
−$8.7K −$4.23/SF
NOI
$26.1K $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%
$521,220
Cap Rate 7%
$372,300
Cap Rate 9%
$289,567
Alternative Uses
Best Use
Office B
$372.3K
$325.8K – $434.4K
NOI $26,061 @ 7.0% cap · market cap 4.74%
Second Best
Retail
$289.3K
$253.2K – $337.6K
NOI $20,254 @ 7.0% cap · market cap 3.68%
Theoretical Best
Multifamily LT 5
$25.13M
$21.98M – $29.31M
NOI $1,758,788 @ 7.0% cap · market cap 319.78%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
622
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - ROD-zoned modular building with potential for multiple office configurations.
Where is this office unit located?
The property is located at 5013 Oleander Drive Wilmington, NC.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 2,052‑square‑foot modular building constructed in 2002; 0.46‑acre parcel measuring approximately 100 x 200 feet; ROD zoning
