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    3408 Wilshire Blvd Wilmington, NC 28403

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    For Lease
    Contact for pricing

    Prime Office, 3,863+ SF Available

    Lot size:
    11,550 SF

    Property Features for 3408 Wilshire Blvd

    General Information

    Property type
    Office Units
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    11,550 SF
    Total Rate
    19250

    Building Details

    Year Built
    1985
    Buildings
    1
    Stories
    1

    Spaces For Lease

    at 3408 Wilshire Blvd, Wilmington, NC 28403 Contact us
    Unit Unit 100

    $20 /Mo

    Size
    3,863 SF
    Contact us

    We can help!

    Listing Contact
    Mason Watkins
    Mason Watkins

    Listing Agency: Sun Coast Partners Commercial Listing Agent: Mason Watkins

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    3408 Wilshire Blvd, Wilmington, NC presents a fantastic opportunity for businesses seeking a well-located office space. This single-story, 11,550 square foot building, constructed in 1985, is situated on a 0.85-acre lot in the Midtown submarket, offering excellent visibility and accessibility. The property features a traditional office layout, currently offering 3,863 square feet of vacant space suitable for multiple tenants. Its convenient location in central Wilmington provides easy access to downtown Wilmington, a mix of residential areas, local businesses, and retail establishments, ensuring high traffic and visibility. The proximity to shopping centers, restaurants, and a variety of professional services caters to a diverse clientele. Furthermore, its close proximity to the University of North Carolina Wilmington (UNCW) makes it an attractive location for businesses targeting both the student population and the broader community. Ample parking is available, adding to the overall convenience and appeal. The property is zoned O&I and its APN is 3137-24-4107.000. This is an exceptional opportunity to establish a presence in a thriving and dynamic area of Wilmington. The cross street is Wrightsville Ave.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    AssistedCare At Home Home Health Care Service Kathleen Godsey Foster Care Service Eldercare At Home Home Health Care Service Hire Quest Direct Employment Agency Dr. Karen Kinney Physician

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.900389209609
    Latitude
    34.22387512938

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    FAQs

    What type of property is this?
    Office units - Prime Office, 3,863+ SF Available
    Where is this office units located?
    The property is located at 3408 Wilshire Blvd Wilmington, NC.
    What is the lease rate?
    The lease rate is $20 SF/Yr.
    What are key features of this property?
    This property features: 11,550 SF office building on a 0.85-acre lot in Wilmington, NC's Midtown submarket.; 3,863 SF of vacant space available for lease.; Single-story building constructed in 1985.
    (910) 350-1200 Call to check price and availability
    Request Owner's contact information
    3408 Wilshire Blvd Wilmington, NC 28403
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    Wilmington, NC 28403
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3408 Wilshire Blvd Wilmington, NC 28403
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Mason Watkins
    Mason Watkins
    (910) 350-1200 (704) 661-4077
    Learn more
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