701 N Lake Park Blvd

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701 N Lake Park Blvd

Carolina Beach, NC 28428
Asking Price
$8.00M
Asset Type
Retail
Class
Class B

What's Special

701 N Lake Park Blvd is situated in the primary commercial corridor of Carolina Beach, North Carolina. The property sits within a walkable coastal district characterized by a mix of local boutiques, seasonal attractions, and national retailers. It offers high visibility on the main thoroughfare connecting the mainland to the beach communities. The location is approximately three blocks from the Carolina Beach Boardwalk and public beach access points. Regional transportation is facilitated by US-421, providing a direct link to Wilmington and surrounding residential neighborhoods. This retail asset is suited for businesses seeking high pedestrian foot traffic and seasonal tourism exposure. Ideal use cases include general merchandise retail, specialty apparel, or service-oriented storefronts. Typical tenants for this area include local entrepreneurs, regional franchises, and hospitality-adjacent services. The property’s position caters to a diverse demographic consisting of year-round residents and a significant influx of vacationers during the peak summer season, supporting both consistent local trade and high-volume tourism commerce.

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NOI
$80,000
Cap Rate
1.00%
DSCR
0.17
Underwater
Cash-on-Cash
-16.46%
Monthly Payment
$39,579.635
Annual Cash Flow
$-394,955.621

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