Office Unit Across from
For Sale
$225,000
5016 E Oak Island Drive, Oak Island, NC 28465
Commercial Sale, Oak Island, NC
Property Size804 SF
Price / SF$279.85
Days on Market220
Property Features for 5016 E Oak Island Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Comm/Office
Parking features
Parking Lot
Subdivision
Not In Subdivision
Directions
From 211 Take Swains Cut Bridge- at end of road turn onto East Oak Island Drive , follow East Oak Island Drive to address - located across street from Publix- and just pass the Barbeque House.
Standard status
Active
APN
235mn01110
Size
804 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
Bldg-3 U-2 Ph-3 Long Bay Commons Cb-11/54
Tax Annual Amount
1590
HOA Fee
$3,000 Annually
Legal Description
Bldg-3 U-2 Ph-3 Long Bay Commons Cb-11/54
Utilities
Utilities
Water Available
Heating system
Electric (Heating), Heat Pump (Heating)
Cooling system
Central Air
Water source
Public
Amenities
reception area
mini kitchen
storage space
Building Details
Year built
2006
Number of units
1
Flooring type
Vinyl
Building materials
Vinyl Siding, Wood Frame
Roof type
Shingle
Listing Agency:
Better Beach Sales & Rentals, Inc.
(910) 278-1147
Listed By:
Dawn J McVicker · License #304812
(843) 518-8168
Added: Feb 12
Changed: Sep 8
Last Checked: Sep 20 at 6:06AM
MLS# 100554235
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 804-square-foot office unit, completed in 2006, combines a reception area with office space, a mini kitchen, and dedicated storage. Vinyl flooring, central air, electric heat-pump service, and a shingle roof are among the existing improvements. The property has a wood-frame structure with vinyl siding and access to public water.
Positioned across from Publix on E Oak Island Drive in Oak Island, the unit is within a commercial complex where multiple small businesses operate. On-site parking is provided, and water is available. A tenant lease remains in place through June 2027, making the property an occupied office investment with an established use.
Positioned across from Publix on E Oak Island Drive in Oak Island, the unit is within a commercial complex where multiple small businesses operate. On-site parking is provided, and water is available. A tenant lease remains in place through June 2027, making the property an occupied office investment with an established use.
Key Highlights
- 804 SF office unit completed in 2006
- Reception area, mini kitchen, office space, and storage
- Current tenant lease extends through June 2027
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
$10,211
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
4.54%
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%
$204,220
$204.2K
Cap Rate 7%
$145,871
$145.9K
Cap Rate 9%
$113,456
$113.5K
Market Conditions
NOI Build-Up for 804 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
$16.8K $20.88/SF
− Vacancy
−$3.2K −$3.95/SF
EGI
$13.6K $16.93/SF
− OpEx
−$3.4K −$4.23/SF
NOI
$10.2K $12.70/SF
Area
Brunswick County, 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 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%
$204,220
Cap Rate 7%
$145,871
Cap Rate 9%
$113,456
Alternative Uses
Best Use
Office B
$145.9K
$127.6K – $170.2K
NOI $10,211 @ 7.0% cap · market cap 4.54%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$9.84M
$8.61M – $11.49M
NOI $689,116 @ 7.0% cap · market cap 306.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
260
Businesses Nearby
Explore this area
Business Placement
Demographics for 28465, NC
8,020
Population
10,482
Households
0.8
Avg Household Size
60
Median Age
45%
College-Educated
97%
High-School Grad
10.9 sq mi
ZIP Area
736
Density / Sq Mi
$83,739
Median Household Income
$49,936
Median Earnings
$1,154
Median Rent
$436,200
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 Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - Office unit with reception, kitchenette, workspace, storage, central air, and parking lot access.
Where is this office units located?
The property is located at 5016 E Oak Island Drive Oak Island, NC.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 804 SF office unit completed in 2006; Reception area, mini kitchen, office space, and storage; Current tenant lease extends through June 2027
