Two-Story Office
For Sale
$6,700,000
5041 New Centre Drive, Wilmington, NC 28403
Commercial Sale, Wilmington, NC
Property Size30,722 SF
Lot Size2.19 Acres
Price / SF$218.08
Days on Market418
Property Features for 5041 New Centre Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RB
Parking features
Off Street
Subdivision
Not In Subdivision
Lot features
Level
Directions
South on S. College Rd, right on New Centre, building on right
Standard status
Active
APN
R04916-001-006-001
Size
30,722 SF
Lot size
2.19 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2025
Tax Description
(2.19 Acres) Parcel B-R Jerry A Cook Survey
Tax Annual Amount
35057
Legal Description
(2.19 Acres) Parcel B-R Jerry A Cook Survey
Utilities
Heating system
Heat Pump (Heating), Natural Gas
Cooling system
Heat Pump
Water source
Public
Amenities
LED lighting
cold plasma generators
fiber optic cable
handicap access
on-site maintenance staff
Building Details
Year built
1979
Flooring type
Marble, Tile, Carpet
Building materials
Block, Concrete, Stucco, Steel Frame
Roof type
Membrane
Buildings
1
Listing Agency:
Intracoastal Realty Corporation
(910) 256-4503
Listed By:
Gwen J Hawley · License #77787
(910) 262-7427
Added: Sep 10, 2025
Changed: Nov 1
Last Checked: Nov 1 at 8:06PM
MLS# 100529913
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 30,722-square-foot office building occupies a 2.19-acre site and was completed in 1979. The two-level layout includes a foyer, wide stair access, and an updated elevator serving the second floor. Restrooms are provided on both floors, including accessible facilities. Construction incorporates block, concrete, stucco, and a steel frame, with tile, carpet, and marble flooring. The property also features a membrane roof, natural gas and heat pump heating, heat pump cooling, LED lighting, rooftop air-conditioning units equipped with I wave cold plasma generators, and fiber optic cabling throughout the building.
The site offers off-street paved parking, mature landscaping, and public water service. The property is positioned on South College Road near Market Street, with access to downtown Wilmington, Wrightsville Beach, and I-40. Tenants are in place under annual leases, and on-site staff maintain the building daily.
The site offers off-street paved parking, mature landscaping, and public water service. The property is positioned on South College Road near Market Street, with access to downtown Wilmington, Wrightsville Beach, and I-40. Tenants are in place under annual leases, and on-site staff maintain the building daily.
Key Highlights
- 30,722‑square‑foot office building on a 2.19‑acre site
- Two‑story layout with updated elevator and wide stairwell access
- Block, concrete, stucco, and steel‑frame construction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$390,177
Cap Rate
5.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,803,540
$7.8M
Cap Rate 7%
$5,573,957
$5.6M
Cap Rate 9%
$4,335,300
$4.3M
Market Conditions
NOI Build-Up for 30,722 SF
Gross rent
$641.5K $20.88/SF
− Vacancy
−$121.2K −$3.95/SF
EGI
$520.2K $16.93/SF
− OpEx
−$130.1K −$4.23/SF
NOI
$390.2K $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%
$7,803,540
Cap Rate 7%
$5,573,957
Cap Rate 9%
$4,335,300
Alternative Uses
Best Use
Office B
$5.57M
$4.88M – $6.50M
NOI $390,177 @ 7.0% cap · market cap 5.82%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$376.17M
$329.15M – $438.87M
NOI $26,332,102 @ 7.0% cap · market cap 393.02%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,317
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?
Office building - Steel-and-concrete construction, elevator access, and paved parking serve a maintained professional office property.
Where is this office building located?
The property is located at 5041 New Centre Drive Wilmington, NC.
What is the asking price?
The asking price for this property is $6,700,000.
What are key features of this property?
This property features: 30,722‑square‑foot office building on a 2.19‑acre site; Two‑story layout with updated elevator and wide stairwell access; Block, concrete, stucco, and steel‑frame construction
