Flex Space with
For Sale
Under Contract
$1,495,000
6863 Beach Drive SW, Ocean Isle Beach, NC 28469
COMMERCIAL - Ocean Isle Beach, NC
Property Size3,715 SF
Lot Size0.70 Acres
Price / SF$402.42
Days on Market56
Property Features for 6863 Beach Drive SW
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Oi-C-3
Parking features
Parking Lot
Fireplace
1
Subdivision
Tarheeland Acres
Directions
From Hwy 17 turn on Ocean Isle Beach Rd SW, then right on Beach Drive, property is on Left (before car wash).
Standard status
Active Under Contract
APN
243oe03002
Size
3,715 SF
Lot size
0.70 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
.70 AC TARHEELAND ACRES PL 17/200 NC 904&179
Tax Annual Amount
3083
Legal Description
.70 AC TARHEELAND ACRES PL 17/200 NC 904&179
Utilities
Utilities
Propane
Sewer type
Septic Tank
Heating system
Electric (Heating), Propane (Heating), Heat Pump (Heating)
Cooling system
Wall/Window Unit(s), Central Air, Window Unit(s), Heat Pump
Water source
Public
Amenities
covered entrance
expansive front windows
separate meters
Building Details
Year built
2004
Building materials
Composition, Metal Siding, Brick Veneer, Steel Frame
Roof type
Metal
Listing Agency:
Sloane Commercial
(910) 579-1808
Listed By:
Stephanie M Reeves · License #255829
(910) 579-1808
Added: Jun 25
Changed: Aug 19
Last Checked: Aug 19 at 10:06AM
MLS# 100584225
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 flex property combines customer-facing space with office and industrial components across a 0.70-acre site. The 2004 building has a metal exterior, covered entry, front windows, reception space, display areas, private offices, kitchen facilities, restrooms, and a connected warehouse. The storefront configuration can be separated into two units by closing the existing opening between them. A second standalone building provides a climate-controlled shop.
The industrial improvements include two 12-foot-wide by 11-foot-11-inch-high roll-up doors in the rear warehouse and an additional 12-foot-wide by 12-foot-11-inch-high door at the detached shop. Fire sprinklers serve the industrial structures, which also have 3-phase electrical service. The office areas have separate meters. The property is zoned OI-C-3 and lies entirely within a Shaded-X flood zone. It fronts Beach Drive SW in Ocean Isle Beach with approximately 100 feet of road frontage and an AADT count of 11,936. Public water, septic service, propane, central air, heat pumps, and a parking lot are also present.
The industrial improvements include two 12-foot-wide by 11-foot-11-inch-high roll-up doors in the rear warehouse and an additional 12-foot-wide by 12-foot-11-inch-high door at the detached shop. Fire sprinklers serve the industrial structures, which also have 3-phase electrical service. The office areas have separate meters. The property is zoned OI-C-3 and lies entirely within a Shaded-X flood zone. It fronts Beach Drive SW in Ocean Isle Beach with approximately 100 feet of road frontage and an AADT count of 11,936. Public water, septic service, propane, central air, heat pumps, and a parking lot are also present.
Key Highlights
- 0.70‑acre commercial site with approximately 100 feet of Beach Drive SW frontage
- 2004 flex property with storefront, offices, warehouse space, and a separate climate‑controlled shop
- Rear warehouse includes two 12'W x 11'11''H roll‑up doors
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
$47,181
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
3.16%
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%
$943,620
$943.6K
Cap Rate 7%
$674,014
$674.0K
Cap Rate 9%
$524,233
$524.2K
Market Conditions
NOI Build-Up for 3,715 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
$77.6K $20.88/SF
− Vacancy
−$14.7K −$3.95/SF
EGI
$62.9K $16.93/SF
− OpEx
−$15.7K −$4.23/SF
NOI
$47.2K $12.70/SF
Area
Brunswick County, 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%
$943,620
Cap Rate 7%
$674,014
Cap Rate 9%
$524,233
Alternative Uses
Best Use
Office B
$674.0K
$589.8K – $786.4K
NOI $47,181 @ 7.0% cap · market cap 3.16%
Second Best
Warehouse
$657.3K
$575.1K – $766.8K
NOI $46,010 @ 7.0% cap · market cap 3.08%
Theoretical Best
Multifamily LT 5
$45.49M
$39.80M – $53.07M
NOI $3,184,160 @ 7.0% cap · market cap 212.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
100%
Occupancy
Single-tenant
Tenancy
Yes
Heavy power
Yes
Sprinkler system
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
218
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 28469, NC
8,171
Population
8,730
Households
0.9
Avg Household Size
63
Median Age
39%
College-Educated
95%
High-School Grad
25.7 sq mi
ZIP Area
318
Density / Sq Mi
$87,285
Median Household Income
$41,936
Median Earnings
$948
Median Rent
$413,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile commercial building combining storefront areas, offices, warehouse functions, and a separate climate-controlled shop.
Where is this flex space located?
The property is located at 6863 Beach Drive SW Ocean Isle Beach, NC.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: 0.70‑acre commercial site with approximately 100 feet of Beach Drive SW frontage; 2004 flex property with storefront, offices, warehouse space, and a separate climate‑controlled shop; Rear warehouse includes two 12'W x 11'11''H roll‑up doors
