Equipped Nail
For Sale
$200,000
6932 Market St E, Wilmington, NC 28411
Established salon layout includes client service areas, treatment space, storage, reception, and an extensive product inventory.
Property Size1,181 SF
Price / SF$169.35
Days on Market32
Property Features for 6932 Market St E
General Information
Standard status
Active
Size
1,181 SF
Additional Details
Business Included
Yes
Corner Location
Yes
Building Details
Year Built
1997
Listing Agency:
Teresa Batts Real Estate, LLC
Listed By:
Jordan Lanier Barkman · License #284136
(910) 520-3715
Source:
Barefootbrokers
Added: Aug 14
Changed: Sep 11
Last Checked: Sep 13 at 2:50PM
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 Teresa Batts Real Estate, LLC
Investment Insights
Based on property information with market context.
This spa and wellness property is configured as a nail salon with 8 pedicure spa chairs and 8 manicure workstations. The interior also includes a massage and facial room with a bed, bathroom, storage room, reception area, polish displays, and inventory of polish and dip powder products. High-quality salon equipment is included in the offering.
The property is positioned at the intersection of Market Street and Military Cutoff Drive in Wilmington, with corner exposure, shared parking serving nearby chain businesses, and access to public transit. Built in 1997, the 1,181-size property is arranged for continued salon operations.
The property is positioned at the intersection of Market Street and Military Cutoff Drive in Wilmington, with corner exposure, shared parking serving nearby chain businesses, and access to public transit. Built in 1997, the 1,181-size property is arranged for continued salon operations.
Key Highlights
- 8 pedicure spa chairs and 8 manicure workstations
- Massage and facial room with bed, bathroom, storage room, and reception area
- Polish displays plus polish and dip powder inventory included
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
$11,657
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
5.83%
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%
$233,140
$233.1K
Cap Rate 7%
$166,529
$166.5K
Cap Rate 9%
$129,522
$129.5K
Market Conditions
NOI Build-Up for 1,181 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
$18.6K $15.72/SF
− Vacancy
−$1.9K −$1.62/SF
EGI
$16.7K $14.10/SF
− OpEx
−$5.0K −$4.23/SF
NOI
$11.7K $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%
$233,140
Cap Rate 7%
$166,529
Cap Rate 9%
$129,522
Alternative Uses
Best Use
Retail
$166.5K
$145.7K – $194.3K
NOI $11,657 @ 7.0% cap · market cap 5.83%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$14.46M
$12.65M – $16.87M
NOI $1,012,246 @ 7.0% cap · market cap 506.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
692
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28411, NC
37,834
Population
16,978
Households
2.2
Avg Household Size
41
Median Age
53%
College-Educated
96%
High-School Grad
41.2 sq mi
ZIP Area
918
Density / Sq Mi
$94,200
Median Household Income
$49,008
Median Earnings
$1,685
Median Rent
$363,600
Median Home Value
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Spa & wellness property - Established salon layout includes client service areas, treatment space, storage, reception, and an extensive product inventory.
Where is this spa & wellness property located?
The property is located at 6932 Market St E Wilmington, NC.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: 8 pedicure spa chairs and 8 manicure workstations; Massage and facial room with bed, bathroom, storage room, and reception area; Polish displays plus polish and dip powder inventory included
