Mixed-Use Live-Work
For Sale
Under Contract
$979,000
5018 Oleander Drive, Wilmington, NC 28403
MULTI_FAMILY - Wilmington, NC
Property Size3,579 SF
Lot Size0.46 Acres
Price / SF$273.54
Days on Market399
Property Features for 5018 Oleander Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
ROD
Parking features
Paved or Surfaced, Driveway
Subdivision
Seagate
Directions
East on Oleander past long leaf park- property will be on the right.
Standard status
Active Under Contract
APN
R06108-009-001-000
Size
3,579 SF
Lot size
0.46 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LOT 48 B Piney Woods
Tax Annual Amount
4675
Legal Description
LOT 48 B Piney Woods
Utilities
Utilities
Water Available
Heating system
Heat Pump (Heating), Electric (Heating), Propane (Heating)
Cooling system
Heat Pump
Water source
Public
Building Details
Year built
1954
Flooring type
Wood, Tile
Building materials
Vinyl Siding
Roof type
Shingle
Listing Agency:
Intracoastal Realty Corporation
(910) 256-4503
Listed By:
Lisa W Wayne · License #193183
(910) 520-3856
Added: Jun 27, 2025
Changed: Jul 12
Last Checked: Jul 30 at 11:06PM
MLS# 100516272
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 for-sale mixed-use live-work property includes two buildings totaling approximately 3,900 square feet, with 3,579 square feet identified as heated space and 347 square feet identified as enclosed space. The configuration features a storefront, a design studio, and a one-bedroom apartment. The buildings have recently undergone comprehensive renovation, and the layout is described as flexible for combining residential and commercial uses.
Located at 5018 Oleander Drive in Wilmington, the property sits on nearly half an acre along the high-visibility Oleander Drive corridor. The property is positioned within the ROD (Residential Office) zoning district, which allows for both residential and commercial uses.
At the time of listing, the property is owner-occupied, offering an opportunity for an owner-user or for purchase as a turnkey investment.
Located at 5018 Oleander Drive in Wilmington, the property sits on nearly half an acre along the high-visibility Oleander Drive corridor. The property is positioned within the ROD (Residential Office) zoning district, which allows for both residential and commercial uses.
At the time of listing, the property is owner-occupied, offering an opportunity for an owner-user or for purchase as a turnkey investment.
Key Highlights
- Two‑building commercial mixed‑use property on Oleander Drive totaling approx. 3,900 SF (3,579 SF heated and 347 SF enclosed).
- Nearly half‑acre lot with a storefront, design studio, and a one‑bedroom apartment.
- RO (Residential Office) zoning district allows a range of residential and commercial uses.
Financial Insights For Office B
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 | $74.7k | $20.88 |
| − Vacancy | −$14.1k | −$3.95 |
| EGI | $60.6k | $16.93 |
| − OpEx | −$15.2k | −$4.23 |
| NOI | $45.5k | $12.70 |
3,579 SF · lease $20.88/SF/yr · vacancy 18.90% · expense 25.00%
Alternative Uses
Best Use
Mixed Use
$43.16M
$37.76M – $50.35M
NOI $3,021,047 @ 7.0% cap · market cap 308.58%
Second Best
Office B
$649.3K
$568.2K – $757.6K
NOI $45,454 @ 7.0% cap · market cap 4.64%
Theoretical Best
Multifamily LT 5
$43.82M
$38.34M – $51.13M
NOI $3,067,593 @ 7.0% cap · market cap 313.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
558
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Live-work space - Two renovated buildings on Oleander Drive with a storefront, design studio, and a one-bedroom apartment in RO zoning.
Where is this live-work space located?
The property is located at 5018 Oleander Drive Wilmington, NC.
What is the asking price?
The asking price for this property is $979,000.
What are key features of this property?
This property features: Two‑building commercial mixed‑use property on Oleander Drive totaling approx. 3,900 SF (3,579 SF heated and 347 SF enclosed).; Nearly half‑acre lot with a storefront, design studio, and a one‑bedroom apartment.; RO (Residential Office) zoning district allows a range of residential and commercial uses.
