Corner-Lot Storefront
New
For Sale
$800,000
9118 Beach Dr SE, Calabash, NC 28467
Occupied commercial spaces offer separate utilities, accessory garage storage, and a fenced rear parking area.
Property Size2,830 SF
Price / SF$282.69
Days on Market6
Property Features for 9118 Beach Dr SE
General Information
Standard status
Active
Size
2,830 SF
Property subtype
Commercial
Site & Location
Corner Location
Yes
Utilities to Site
Yes
Amenities
separate utilities
garage space with large overhead garage door
fenced rear parking/storage area
Building Details
Year Built
2007
Tenancy
Multi
Listing Agency:
Coldwell Banker Sea Coast Advantage
(910) 477-2751
Listed By:
Michele D Johnston · License #227749
Source:
Yournorthcarolinahomesource
Added: Aug 28
Changed: Sep 1
Last Checked: Sep 1 at 9:16PM
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 Coldwell Banker Sea Coast Advantage
Investment Insights
Based on property information with market context.
Built in 2007, this corner-lot storefront property contains four occupied rental spaces with separate utilities. Suites 1 and 4 provide approximately 1,225 SF and are used by a hair salon and day spa, while Suites 2 and 3 each offer approximately 770 SF for boutique retail and computer service businesses.
The property also includes approximately 500 SF of garage space with a large overhead door, along with more than 1,000 SF of fenced rear parking and storage area. The site is located at 9118 Beach Dr SE in Calabash, near downtown.
The property also includes approximately 500 SF of garage space with a large overhead door, along with more than 1,000 SF of fenced rear parking and storage area. The site is located at 9118 Beach Dr SE in Calabash, near downtown.
Key Highlights
- Four occupied rental spaces with established business occupancy
- Approximately 1,225 SF across Suites 1 and 4
- Suites 2 and 3 each offer approximately 770 SF
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
$27,934
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
3.49%
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%
$558,680
$558.7K
Cap Rate 7%
$399,057
$399.1K
Cap Rate 9%
$310,378
$310.4K
Market Conditions
NOI Build-Up for 2,830 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
$44.5K $15.72/SF
− Vacancy
−$4.6K −$1.62/SF
EGI
$39.9K $14.10/SF
− OpEx
−$12.0K −$4.23/SF
NOI
$27.9K $9.87/SF
Area
Brunswick County, 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%
$558,680
Cap Rate 7%
$399,057
Cap Rate 9%
$310,378
Alternative Uses
Best Use
Retail
$399.1K
$349.2K – $465.6K
NOI $27,934 @ 7.0% cap · market cap 3.49%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$34.65M
$30.32M – $40.43M
NOI $2,425,618 @ 7.0% cap · market cap 303.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
172
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 28467, NC
11,770
Population
8,098
Households
1.5
Avg Household Size
65
Median Age
31%
College-Educated
97%
High-School Grad
17.4 sq mi
ZIP Area
676
Density / Sq Mi
$72,840
Median Household Income
$38,909
Median Earnings
$1,346
Median Rent
$281,000
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?
Storefront property - Occupied commercial spaces offer separate utilities, accessory garage storage, and a fenced rear parking area.
Where is this storefront property located?
The property is located at 9118 Beach Dr SE Calabash, NC.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Four occupied rental spaces with established business occupancy; Approximately 1,225 SF across Suites 1 and 4; Suites 2 and 3 each offer approximately 770 SF
