Mixed-Use Property with
For Sale
$979,000
Wilmington, NC 28403, Wilmington, NC 28403
Residential Income, Wilmington, NC
Property Size3,900 SF
Lot Size0.46 Acres
Price / SF$273.54
Days on Market468
Property Features
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
ROD
Bedrooms
2
Bathrooms
3
Full bathrooms
2
Half bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 1, Bathroom 3, Bathroom 4, Bedroom 2
Parking features
Driveway, Off Street
Patio and Porch features
Porch
Interior features
Ceiling Fan(s)
Accessibility
Accessible Approach with Ramp
Appliances
Electric Oven, Refrigerator, Dishwasher
Lot features
Level
Elementary school
Winter Park
Middle school
Roland Grise
High school
Hoggard
Subdivision
Piney Woods
Standard status
Active
Size
3,579 SF
Lot size
0.46 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
4675
Utilities
Utilities
Propane
Heating system
Electric (Heating), Forced Air, Propane (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1954
Floors in Building
1
Number of units
3
Flooring type
Vinyl, Tile
Building materials
Brick, Vinyl Siding, Wood Frame
Roof type
Shingle
Listing Agency:
Intracoastal Realty Corporation
(910) 256-4503
Listed By:
Jeffrey G Hovis · License #234605
(910) 512-2205
Added: Jun 29, 2025
Changed: Oct 9
Last Checked: Oct 9 at 9:06AM
MLS# 100516487
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 mixed-use property comprises two buildings with a storefront, a design studio, and a one-bedroom apartment. The buildings have undergone a recent renovation, and the site covers 0.459 acres. Interior features include central air, vinyl and tile flooring, and a porch; off-street parking and a driveway serve the property.
The property is located along Oleander Drive in Wilmington, within the Midtown area. It is currently owner-occupied, with both residential and commercial components in place.
The property is located along Oleander Drive in Wilmington, within the Midtown area. It is currently owner-occupied, with both residential and commercial components in place.
Key Highlights
- Two buildings include a storefront, design studio, and one‑bedroom apartment
- 0.459‑acre site on Oleander Drive in Wilmington
- Recent renovation to both buildings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,454
Cap Rate
4.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$909,080
$909.1K
Cap Rate 7%
$649,343
$649.3K
Cap Rate 9%
$505,044
$505.0K
Market Conditions
NOI Build-Up for 3,579 SF
Gross rent
$74.7K $20.88/SF
− Vacancy
−$14.1K −$3.95/SF
EGI
$60.6K $16.93/SF
− OpEx
−$15.2K −$4.23/SF
NOI
$45.5K $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 Rate 5%
$909,080
Cap Rate 7%
$649,343
Cap Rate 9%
$505,044
Alternative Uses
Best Use
Multifamily LT 5
$43.82M
$38.34M – $51.13M
NOI $3,067,593 @ 7.0% cap · market cap 313.34%
Second Best
Mixed Use
$43.16M
$37.76M – $50.35M
NOI $3,021,047 @ 7.0% cap · market cap 308.58%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
100%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,112
Businesses Nearby
Explore this area
Business Placement
Demographics for 28403, NC
38,134
Population
20,424
Households
1.9
Avg Household Size
30
Median Age
48%
College-Educated
94%
High-School Grad
14.0 sq mi
ZIP Area
2,724
Density / Sq Mi
$50,988
Median Household Income
$30,991
Median Earnings
$1,293
Median Rent
$337,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two buildings combine commercial areas with a one-bedroom apartment on a nearly half-acre parcel.
Where is this mixed-use property located?
The property is located at Wilmington, NC.
What is the asking price?
The asking price for this property is $979,000.
What are key features of this property?
This property features: Two buildings include a storefront, design studio, and one‑bedroom apartment; 0.459‑acre site on Oleander Drive in Wilmington; Recent renovation to both buildings
