Renovated Mixed-Use
For Sale
$979,000
5018 Oleander Drive, Wilmington, NC 28403
Commercial Sale, Wilmington, NC
Property Size3,579 SF
Lot Size0.46 Acres
Price / SF$273.54
Days on Market491
Property Features for 5018 Oleander Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
ROD
Parking features
Driveway, Paved or Surfaced
Subdivision
Seagate
Directions
East on Oleander past long leaf park- property will be on the right.
Standard status
Active
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
Propane (Heating), Electric (Heating), Heat Pump (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: Oct 22
Last Checked: Oct 30 at 3:06AM
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.
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Investment Insights
Based on property information with market context.
This mixed-use property comprises two buildings with a combined configuration of commercial and residential spaces. The improvements include a storefront, design studio, and one-bedroom apartment, with flexible interior arrangements suited to office, studio, or live-work use. The property has been renovated and includes tile and wood flooring, electric and propane heating options, heat-pump heating and cooling, shingle roofing, and vinyl siding.
Set on 0.459 acres along Oleander Drive in Wilmington, the property provides paved or surfaced parking and a driveway. Public water serves the site, and water is available. The buildings date to 1954 and are currently owner-occupied.
Set on 0.459 acres along Oleander Drive in Wilmington, the property provides paved or surfaced parking and a driveway. Public water serves the site, and water is available. The buildings date to 1954 and are currently owner-occupied.
Key Highlights
- Two buildings with a storefront, design studio, and one‑bedroom apartment
- 0.459‑acre property along Oleander Drive in Wilmington
- Renovated improvements with flexible commercial and residential configuration
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,454
Cap Rate
4.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$909,080
$909.1K
Cap Rate 7%
$649,343
$649.3K
Cap Rate 9%
$505,044
$505.0K
Market Conditions
NOI Build-Up for 3,579 SF
Gross rent
$74.7K $20.88/SF
− Vacancy
−$14.1K −$3.95/SF
EGI
$60.6K $16.93/SF
− OpEx
−$15.2K −$4.23/SF
NOI
$45.5K $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%
$909,080
Cap Rate 7%
$649,343
Cap Rate 9%
$505,044
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.
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Current Use
Location Intelligence
Trade Area within ½ mile
621
Businesses Nearby
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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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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two buildings combine a storefront, design studio, and one-bedroom apartment.
Where is this mixed-use property 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 buildings with a storefront, design studio, and one‑bedroom apartment; 0.459‑acre property along Oleander Drive in Wilmington; Renovated improvements with flexible commercial and residential configuration
