Retail Strip Center with
New
For Sale
Contact for pricing
5310 CAROLINA BEACH RD, Wilmington, NC 28412
Established retail property with existing tenants, vacant space, and a two-acre site zoned B2.
Property Size7,807 SF
Lot Size2.00 Acres
Price / SF$243.37
Days on Market7
Property Features for 5310 CAROLINA BEACH RD
General Information
Standard status
Active
Size
7,807 SF
Lot size
2.00 Acres
Property subtype
Retail
Zoning
B2
Additional Details
Road Access
Yes
Land Use
commercial, retail
Amenities
billboard sign
Building Details
Year Built
1987
Stories
1
Units
5
Tenancy
Multi
Listing Agency:
Coldwell Banker Sea Coast Advantage Carolina Beach
(910) 431-7340
Listed By:
Ajay Singh · License #NC
Source:
Crexi
Added: Aug 14
Changed: Aug 18
Last Checked: Aug 20 at 9:03AM
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 Coldwell Banker Sea Coast Advantage Carolina Beach
Investment Insights
Based on property information with market context.
This retail strip center contains approximately 8,000 square feet of rentable space on a 2-acre parcel. Constructed in 1987, the property includes established tenants, vacant areas available for leasing, and a billboard sign that generates income. B2 zoning supports its commercial retail positioning.
The property fronts Carolina Beach Road in Wilmington, with nearby national retailers including Walmart Supercenter, Lowe’s, Home Depot, and Target. Carolina Beach is a few miles away, and the site is situated within the South Monkey Junction commercial area. The additional land is identified for potential expansion, redevelopment, or equipment and vehicle storage use.
The property fronts Carolina Beach Road in Wilmington, with nearby national retailers including Walmart Supercenter, Lowe’s, Home Depot, and Target. Carolina Beach is a few miles away, and the site is situated within the South Monkey Junction commercial area. The additional land is identified for potential expansion, redevelopment, or equipment and vehicle storage use.
Key Highlights
- Approximately 8,000 SF of rentable retail space
- 2‑acre site with B2 zoning
- Built in 1987
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$77,060
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.06%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,541,200
$1.5M
Cap Rate 7%
$1,100,857
$1.1M
Cap Rate 9%
$856,222
$856.2K
Market Conditions
NOI Build-Up for 7,807 SF
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.
Gross rent
$122.7K $15.72/SF
− Vacancy
−$12.6K −$1.62/SF
EGI
$110.1K $14.10/SF
− OpEx
−$33.0K −$4.23/SF
NOI
$77.1K $9.87/SF
Area
Wilmington, NC
Vacancy
10.30%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,541,200
Cap Rate 7%
$1,100,857
Cap Rate 9%
$856,222
Alternative Uses
Best Use
Retail
$1.10M
$963.3K – $1.28M
NOI $77,060 @ 7.0% cap · market cap 4.06%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$95.59M
$83.64M – $111.52M
NOI $6,691,450 @ 7.0% cap · market cap 352.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
640
Businesses Nearby
Explore this area
Business Placement
Demographics for 28412, NC
42,758
Population
20,704
Households
2.1
Avg Household Size
43
Median Age
41%
College-Educated
93%
High-School Grad
22.3 sq mi
ZIP Area
1,917
Density / Sq Mi
$67,396
Median Household Income
$40,351
Median Earnings
$1,326
Median Rent
$342,600
Median Home Value
Market
Vacancy Rate% for Retail 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?
Strip mall - Established retail property with existing tenants, vacant space, and a two-acre site zoned B2.
Where is this strip mall located?
The property is located at 5310 CAROLINA BEACH RD Wilmington, NC.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Approximately 8,000 SF of rentable retail space; 2‑acre site with B2 zoning; Built in 1987
