Multi-Suite Storefront
New
For Sale
$800,000
9118 Beach Drive SE, Calabash, NC 28467
Commercial Sale, Calabash, NC
Property Size2,830 SF
Lot Size0.31 Acres
Price / SF$282.69
Days on Market2
Property Features for 9118 Beach Drive SE
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CA-CB
Parking
10
Parking features
Parking Lot, Garage
Subdivision
Calabash Acres
Lot features
Corner Lot
Directions
From Hwy 17, turn onto Seaside Rd (904), turn right onto Old Georgetown Rd (179), go straight through traffic light at Ace Hardware onto Beach Dr. Property is on corner of Beach Dr. and Charlotte St.
Standard status
Active
APN
241ob008
Size
2,830 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
L-1 B-21 Calabash Acres Plat 8/64
Tax Annual Amount
2195
Legal Description
L-1 B-21 Calabash Acres Plat 8/64
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Electric (Heating), Zoned
Cooling system
Zoned, Central Air
Water source
Public
Amenities
separate utilities
garage space with overhead door
fenced rear parking/storage area
Building Details
Year built
2007
Number of units
4
Flooring type
Laminate, Carpet
Building materials
Vinyl Siding
Roof type
Shingle
Listing Agency:
Coldwell Banker Sea Coast Advantage · Coldwell Banker Real Estate
(910) 754-6782
Listed By:
Michele D Johnston · License #227749
(910) 477-2751
Added: Aug 29
Last Checked: Aug 30 at 12:06AM
MLS# 100599972
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 2,830-square-foot storefront property contains four rental spaces with separate utilities. Suites 1 and 4 provide approximately 1,225 SF and are occupied by a hair salon and day spa, while Suites 2 and 3 each contain approximately 770 SF and house boutique retail and computer service businesses. The improvements were built in 2007 and feature vinyl siding, laminate and carpet flooring, zoned forced-air electric heat, zoned central air, and a shingle roof.
The 0.311-acre corner-lot property is located at 9118 Beach Drive SE in Calabash, NC, near downtown Calabash. Public water and public sewer serve the site. Additional improvements include approximately 500 SF of garage area with a large overhead door, plus more than 1,000 SF of fenced rear parking or storage space. The property is zoned CA-CB and includes a parking lot and garage.
The 0.311-acre corner-lot property is located at 9118 Beach Drive SE in Calabash, NC, near downtown Calabash. Public water and public sewer serve the site. Additional improvements include approximately 500 SF of garage area with a large overhead door, plus more than 1,000 SF of fenced rear parking or storage space. The property is zoned CA-CB and includes a parking lot and garage.
Key Highlights
- Four occupied rental spaces with separate utilities
- Suites 1 and 4 total approximately 1,225 SF
- Suites 2 and 3 each offer approximately 770 SF of storefront space
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
Apartment 5plus
$30.03M
$26.28M – $35.04M
NOI $2,102,156 @ 7.0% cap · market cap 262.77%
Second Best
Retail
$399.1K
$349.2K – $465.6K
NOI $27,934 @ 7.0% cap · market cap 3.49%
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
Property Profile
Current Use
Lease Details
100%
Occupancy
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 - Four occupied commercial suites are supported by separate utilities, garage storage, and fenced rear parking or storage.
Where is this storefront property located?
The property is located at 9118 Beach Drive 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 separate utilities; Suites 1 and 4 total approximately 1,225 SF; Suites 2 and 3 each offer approximately 770 SF of storefront space
