Renovated Flex Space with
For Sale
$299,000
6413 Carolina Beach Rd Unit A, Wilmington, NC 28412
Renovated commercial condo offers office, storage, equipment parking, and prominent road-facing signage.
Property Size800 SF
Price / SF$373.75
Days on Market362
Property Features for 6413 Carolina Beach Rd Unit A
General Information
Standard status
Active
Size
800 SF
Property subtype
Commercial
Site & Location
Road Access
Yes
Outdoor Storage
Yes
Additional Details
Drive-In Doors
1
Amenities
garage
storage
Building Details
Year Built
1990
Tenancy
Multi
Listing Agency:
Navigate Realty
(910) 707-4322
Listed By:
Brandon Williamson · License #229375
Source:
Coastalrealtyassociates
Added: Sep 4, 2025
Changed: Aug 28
Last Checked: Aug 30 at 5:57PM
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 Navigate Realty
Investment Insights
Based on property information with market context.
This renovated commercial condominium is configured for flexible business use, with a spacious open office, a roll-up door providing access to the garage, and additional storage. Deeded use of rear space provides room to park equipment and store materials, extending the property's functional workspace beyond the interior.
The property fronts Carolina Beach Road and sits between Carolina Beach and Monkey Junction in Wilmington. The building includes other home maintenance and home improvement businesses, creating an established commercial setting for a range of compatible operations.
The property fronts Carolina Beach Road and sits between Carolina Beach and Monkey Junction in Wilmington. The building includes other home maintenance and home improvement businesses, creating an established commercial setting for a range of compatible operations.
Key Highlights
- Signage opportunity facing Carolina Beach Road
- Renovated flex‑space commercial condominium
- Large open office with roll‑up garage door
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
$10,160
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
3.40%
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%
$203,200
$203.2K
Cap Rate 7%
$145,143
$145.1K
Cap Rate 9%
$112,889
$112.9K
Market Conditions
NOI Build-Up for 800 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
$16.7K $20.88/SF
− Vacancy
−$3.2K −$3.95/SF
EGI
$13.5K $16.93/SF
− OpEx
−$3.4K −$4.23/SF
NOI
$10.2K $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 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%
$203,200
Cap Rate 7%
$145,143
Cap Rate 9%
$112,889
Alternative Uses
Best Use
Office B
$145.1K
$127.0K – $169.3K
NOI $10,160 @ 7.0% cap · market cap 3.40%
Second Best
Warehouse
$141.5K
$123.9K – $165.1K
NOI $9,908 @ 7.0% cap · market cap 3.31%
Theoretical Best
Multifamily LT 5
$9.80M
$8.57M – $11.43M
NOI $685,687 @ 7.0% cap · market cap 229.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
203
Businesses Nearby
Under-served
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 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?
Flex space - Renovated commercial condo offers office, storage, equipment parking, and prominent road-facing signage.
Where is this flex space located?
The property is located at 6413 Carolina Beach Rd Unit A Wilmington, NC.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Signage opportunity facing Carolina Beach Road; Renovated flex‑space commercial condominium; Large open office with roll‑up garage door
