Shopping Center with
For Sale
$1,900,000
5310 Carolina Beach Road, Wilmington, NC 28412
COMMERCIAL - Wilmington, NC
Property Size7,807 SF
Lot Size2.00 Acres
Price / SF$243.37
Days on Market14
Property Features for 5310 Carolina Beach Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B-2
Subdivision
Not In Subdivision
Directions
SOUTH MONKEY JUNCTION NEXT TO CAR WASH ON RIGHT HAND SIDE
Standard status
Active
APN
R07600-006-043-000
Size
7,807 SF
Lot size
2.00 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
TR B MATAVA DIVISION
Tax Annual Amount
9721
Legal Description
TR B MATAVA DIVISION
Building Details
Year built
1987
Listing Agency:
Coldwell Banker Sea Coast Advantage-CB · Coldwell Banker Real Estate
(910) 458-4401
Listed By:
Ajay Singh · License #301605
(910) 431-7340
Added: Aug 6
Changed: Aug 19
Last Checked: Aug 19 at 7:06PM
MLS# 100594290
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.
This shopping center includes 7,807 square feet of retail space on a 2-acre site. Built in 1987, the property has established tenants alongside vacant areas that may support additional leasing. A billboard on the property generates income, while the larger site provides flexibility for future expansion, redevelopment, or equipment and vehicle storage uses described for the property.
The center is located on Carolina Beach Road in Wilmington, within one mile of Walmart Supercenter, Lowe’s, Home Depot, Target, and other national retailers. Carolina Beach is a few miles away, and the surrounding area includes dense commercial activity. The property is zoned B-2.
The center is located on Carolina Beach Road in Wilmington, within one mile of Walmart Supercenter, Lowe’s, Home Depot, Target, and other national retailers. Carolina Beach is a few miles away, and the surrounding area includes dense commercial activity. The property is zoned B-2.
Key Highlights
- 7,807 square feet of retail space on a 2‑acre site
- B‑2 zoning supports the property’s commercial retail classification
- Existing tenants and vacant spaces create a mixed occupancy profile
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
Location Intelligence
Trade Area within ½ mile
640
Businesses Nearby
Balanced
Demand for This Use
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.
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Frequently Asked Questions
What type of property is this?
Shopping center - B-2-zoned retail property with established tenants, vacant space, and a two-acre site along Carolina Beach Road.
Where is this shopping center located?
The property is located at 5310 Carolina Beach Road 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: 7,807 square feet of retail space on a 2‑acre site; B‑2 zoning supports the property’s commercial retail classification; Existing tenants and vacant spaces create a mixed occupancy profile
