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 Market397
Property Features for 5018 Oleander Drive
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
ROD
Bedrooms
2
Bathrooms
3
Full bathrooms
2
Half bathrooms
2
Rooms
Bedroom 1, Bathroom 4, Bathroom 3, Bathroom 2, Bathroom 1, Bedroom 2
Parking features
Off Street, Driveway
Patio and Porch features
Porch
Interior features
Ceiling Fan(s)
Accessibility
Accessible Approach with Ramp
Appliances
Electric Oven, Refrigerator, Dishwasher
Subdivision
Piney Woods
Lot features
Level
Elementary school
Winter Park
Middle school
Roland Grise
High school
Hoggard
Directions
From Downtown Wilmington, take Dawson street east. Follow it to merge on to Oleander. Follow Oleander, cross over College Road. The property is 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
Lt 48 B Piney Woods S/D
Tax Annual Amount
4675
Legal Description
Lt 48 B Piney Woods S/D
Utilities
Utilities
Propane
Heating system
Forced Air, Propane (Heating), Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1954
Floors in Building
1
Number of units
3
Flooring type
Vinyl, Tile
Building materials
Brick, Vinyl Siding, Wood Frame
Roof type
Shingle
Listing Agency:
Intracoastal Realty Corporation
(910) 256-4503
Listed By:
Jeffrey G Hovis · License #234605
(910) 512-2205
Added: Jun 29, 2025
Changed: Jul 18
Last Checked: Jul 30 at 10:06PM
MLS# 100516487
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.
Two-building mixed-use property totaling approximately 3,900 square feet, including 3,579 square feet heated space and 347 square feet enclosed. The configuration includes a storefront, a design studio, and a one-bedroom apartment, with the buildings recently undergoing a comprehensive renovation.
Located at 5018 Oleander Drive in Wilmington, NC 28403 on a 0.459-acre lot. The property is positioned in the ROD (Residential Office) zoning district.
Currently owner-occupied, this live-work style setup supports a combination of business and residential use within the same offering.
Located at 5018 Oleander Drive in Wilmington, NC 28403 on a 0.459-acre lot. The property is positioned in the ROD (Residential Office) zoning district.
Currently owner-occupied, this live-work style setup supports a combination of business and residential use within the same offering.
Key Highlights
- Two‑building mixed‑use property totaling approx. 3,900 SF (3,579 SF heated and 347 SF enclosed) in Midtown Wilmington.
- Nearly half‑acre site along the Oleander Drive corridor with store front, design studio, and a one‑bedroom apartment.
- RO (Residential Office) zoning district allows for both 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
Multifamily LT 5
$43.82M
$38.34M – $51.13M
NOI $3,067,593 @ 7.0% cap · market cap 313.34%
Second Best
Mixed Use
$43.16M
$37.76M – $50.35M
NOI $3,021,047 @ 7.0% cap · market cap 308.58%
Theoretical Best
—
—
same as Best Use
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?
Triplex - Two recently renovated buildings include a storefront, design studio, and a one-bedroom apartment on a residential office zoned site.
Where is this triplex 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 mixed‑use property totaling approx. 3,900 SF (3,579 SF heated and 347 SF enclosed) in Midtown Wilmington.; Nearly half‑acre site along the Oleander Drive corridor with store front, design studio, and a one‑bedroom apartment.; RO (Residential Office) zoning district allows for both residential and commercial uses.
