Office Unit For
For Sale
$175,000
5024 Randall, Wilmington, NC 28403
Office unit with 795 square feet of space available.
Property Size795 SF
Price / SF$220.13
Days on Market449
Property Features for 5024 Randall
General Information
Standard status
Active
Size
795 SF
Property subtype
Commercial
Site & Location
Neighborhood
New Market Center
Amenities
Electric Heating
Heating Heating
Building Details
Year Built
1984
Listing Agency:
TOWN & COUNTRY REAL ESTATE
Listed By:
TODD J TOCONIS · License #123283
(910) 262-7653
Source:
Corcoran
Added: Aug 13, 2025
Changed: Oct 25
Last Checked: Nov 3 at 5:50AM
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 TOWN & COUNTRY REAL ESTATE
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Investment Insights
Based on property information with market context.
This commercial real estate offering features an office unit with a total area of 795 square feet. The property is located on Randall Parkway in Wilmington, North Carolina.
Key Highlights
- Office space available
- 795 SqFt of space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,097
Cap Rate
5.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$201,940
$201.9K
Cap Rate 7%
$144,243
$144.2K
Cap Rate 9%
$112,189
$112.2K
Market Conditions
NOI Build-Up for 795 SF
Gross rent
$16.6K $20.88/SF
− Vacancy
−$3.1K −$3.95/SF
EGI
$13.5K $16.93/SF
− OpEx
−$3.4K −$4.23/SF
NOI
$10.1K $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%
$201,940
Cap Rate 7%
$144,243
Cap Rate 9%
$112,189
Alternative Uses
Best Use
Office B
$144.2K
$126.2K – $168.3K
NOI $10,097 @ 7.0% cap · market cap 5.77%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$9.73M
$8.52M – $11.36M
NOI $681,402 @ 7.0% cap · market cap 389.37%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,130
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Office unit with 795 square feet of space available.
Where is this office unit located?
The property is located at 5024 Randall Wilmington, NC.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Office space available; 795 SqFt of space
