Office Unit with Reception
For Sale
$225,000
5016 E Oak Island Drive Apt 2, Oak Island, NC 28465
Commercial unit includes a mini kitchen, office area, and dedicated storage.
Property Size804 SF
Price / SF$279.85
Days on Market42
Property Features for 5016 E Oak Island Drive Apt 2
General Information
Standard status
Active
Size
804 SF
Building Details
Year Built
2006
Listing Agency:
Better Beach Sales & Rentals, Inc.
(843) 518-8168
Listed By:
Dawn J McVicker · License #304812
Source:
Bradberrygarnerrealestate
Added: Jul 21
Changed: Aug 30
Last Checked: Aug 30 at 4:18PM
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 Better Beach Sales & Rentals, Inc.
Investment Insights
Based on property information with market context.
This office unit at 5016 E Oak Island Drive, Apt 2, provides a reception area, mini kitchen, office space, and storage within an established commercial complex. The property was built in 2006 and measures 804 square feet.
The complex is across from Publix and includes many small businesses. A tenant currently occupies the space under a lease extending through June 2027.
The complex is across from Publix and includes many small businesses. A tenant currently occupies the space under a lease extending through June 2027.
Key Highlights
- 804‑square‑foot office unit
- Reception area, mini kitchen, office space, and storage
- Current tenant lease runs 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
Retail
$113.4K
$99.2K – $132.3K
NOI $7,936 @ 7.0% cap · market cap 3.53%
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
Property Profile
Current Use
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Commercial unit includes a mini kitchen, office area, and dedicated storage.
Where is this office units located?
The property is located at 5016 E Oak Island Drive Apt 2 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‑square‑foot office unit; Reception area, mini kitchen, office space, and storage; Current tenant lease runs through June 2027
