Retail Space For
For Sale
$2,650,000
722 S 17th St, Wilmington, NC 28401
Retail space available for sale at 722 17th St in Wilmington, NC 28401.
Property Size10,088 SF
Days on Market68
Property Features for 722 S 17th St
General Information
Standard status
Active
Size
10,088 SF
Property subtype
Retail
Building Details
Building Size
10,088 SF
Year Built
2014
Listing Agency:
Lee and Associates
Listed By:
Sandy Thorpe
(910) 352-6787
Source:
Lee-associates
Added: Jul 3
Changed: Sep 4
Last Checked: Sep 8 at 5:18AM
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 Lee and Associates
Investment Insights
Based on property information with market context.
This offering presents a retail space available for sale. The property is listed for purchase as a commercial retail asset and is positioned to serve retail-oriented needs for an owner-occupant or investor.
The address is 722 17th St, Wilmington, NC 28401. Additional details such as building size, unit configuration, tenant status, and on-site improvements are not provided in the available information, so interested parties should inquire for the complete due-diligence package.
The address is 722 17th St, Wilmington, NC 28401. Additional details such as building size, unit configuration, tenant status, and on-site improvements are not provided in the available information, so interested parties should inquire for the complete due-diligence package.
Key Highlights
- Retail space for sale at 722 17th St, Wilmington, NC 28401
- Built in 2014
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
$99,574
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
3.76%
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%
$1,991,480
$2.0M
Cap Rate 7%
$1,422,486
$1.4M
Cap Rate 9%
$1,106,378
$1.1M
Market Conditions
NOI Build-Up for 10,088 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
$158.6K $15.72/SF
− Vacancy
−$16.3K −$1.62/SF
EGI
$142.2K $14.10/SF
− OpEx
−$42.7K −$4.23/SF
NOI
$99.6K $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%
$1,991,480
Cap Rate 7%
$1,422,486
Cap Rate 9%
$1,106,378
Alternative Uses
Best Use
Retail
$1.42M
$1.24M – $1.66M
NOI $99,574 @ 7.0% cap · market cap 3.76%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$123.52M
$108.08M – $144.11M
NOI $8,646,515 @ 7.0% cap · market cap 326.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
853
Businesses Nearby
Explore this area
Business Placement
Demographics for 28401, NC
22,204
Population
13,017
Households
1.7
Avg Household Size
41
Median Age
34%
College-Educated
88%
High-School Grad
31.0 sq mi
ZIP Area
716
Density / Sq Mi
$52,159
Median Household Income
$35,739
Median Earnings
$1,183
Median Rent
$263,000
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space available for sale at 722 17th St in Wilmington, NC 28401.
Where is this retail space located?
The property is located at 722 S 17th St Wilmington, NC.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: Retail space for sale at 722 17th St, Wilmington, NC 28401; Built in 2014
