Office Condo with Tenant in
For Sale
Contact for pricing
5014-5034 Randall Pkwy, Wilmington, NC
Office condo for sale with tenant in place until 2027.
Property Size795 SF
Lot Size0.52 Acres
Price / SF$220.13
Days on Market381
Property Features for 5014-5034 Randall Pkwy
General Information
Standard status
Active
Size
795 SF
Lot size
0.52 Acres
Property subtype
OFFICE
Listing Agency:
Town & Country Real Estate
(910) 262-7653
Listed By:
Todd Toconis · License #123283
(910) 262-7653
Source:
Moodyscre
Added: Aug 11, 2025
Changed: Aug 8
Last Checked: Aug 25 at 1:01PM
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 Town & Country Real Estate
Investment Insights
Based on property information with market context.
This second-floor office space is located within the Carolina Place office condos. The layout includes four offices, a reception area, and a private bathroom. A tenant is currently in place with a lease extending through August 31, 2027; lease terms are available upon request. On-site parking is provided. The COA fee covers water, sewer, and trash services. The property has a size of 795 square feet.
Key Highlights
- Tenant in place through 8/31/2027 providing immediate income.
- Located in Carolina Place office condos.
- Includes 4 offices, reception area, and private bathroom.
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
$10,097
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
5.77%
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%
$201,940
$201.9K
Cap Rate 7%
$144,243
$144.2K
Cap Rate 9%
$112,189
$112.2K
Market Conditions
NOI Build-Up for 795 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
$16.6K $20.88/SF
− Vacancy
−$3.1K −$3.95/SF
EGI
$13.5K $16.93/SF
− OpEx
−$3.4K −$4.23/SF
NOI
$10.1K $12.70/SF
Area
Wilmington, NC
Vacancy
18.90%
Lease Rate
$20.88 /SF/Yr
Expense Ratio
25.00%
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%
$201,940
Cap Rate 7%
$144,243
Cap Rate 9%
$112,189
Alternative Uses
Best Use
Office B
$144.2K
$126.2K – $168.3K
NOI $10,097 @ 7.0% cap · market cap 5.77%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$9.73M
$8.52M – $11.36M
NOI $681,402 @ 7.0% cap · market cap 389.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,130
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office condo for sale with tenant in place until 2027.
Where is this office units located?
The property is located at 5014-5034 Randall Pkwy Wilmington, NC.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Tenant in place through 8/31/2027 providing immediate income.; Located in Carolina Place office condos.; Includes **4 offices, reception area, and private bathroom.**
