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Cross Bridge Commons 1204 N Lake Park Blvd 20,700 SF 100% Leased Flex Building Carolina Beach, NC 28428 $8,218,260 CAD ($397.02 CAD/SF) 4.14% Cap Rate
Investment Highlights
- Located along Carolina Beach’s primary access corridor with unmatched visibility
- Staggered lease expirations from 2026 to 2034
- Fully leased to seven tenants providing diversified income
- Constructed with Class A quality and meticulously maintained
Executive Summary
1204 N Lake Park Blvd in Carolina Beach, NC presents an exceptional opportunity to acquire a fully leased retail and office property in one of coastal North Carolina’s most supply-constrained markets. Positioned on the island’s primary access corridor, the 20,700 SF Class A building offers excellent visibility and consistent traffic flow. The property is stabilized with seven tenants across diversified uses, generating a current NOI of $248,600 with significant upside through mark-to-market rent adjustments and staggered lease expirations between 2026 and 2034. Priced below replacement cost at $6,000,000, this asset combines long-term income security with growth potential, supported by high barriers to entry and virtually no remaining commercial land for development in this vibrant coastal market.
Property Facts
| Price | $8,218,260 CAD | Lot Size | 1.70 AC |
| Price Per SF | $397.02 CAD | Rentable Building Area | 20,700 SF |
| Sale Type | Investment | No. Stories | 2 |
| Cap Rate | 4.14% | Year Built | 2005 |
| Property Type | Flex | Parking Ratio | 3.62/1,000 SF |
| Property Subtype | Light Distribution | Clear Ceiling Height | 10’ |
| Building Class | A | No. Drive In / Grade-Level Doors | 4 |
| Zoning | HB - Carolina Beach | ||
| Price | $8,218,260 CAD |
| Price Per SF | $397.02 CAD |
| Sale Type | Investment |
| Cap Rate | 4.14% |
| Property Type | Flex |
| Property Subtype | Light Distribution |
| Building Class | A |
| Lot Size | 1.70 AC |
| Rentable Building Area | 20,700 SF |
| No. Stories | 2 |
| Year Built | 2005 |
| Parking Ratio | 3.62/1,000 SF |
| Clear Ceiling Height | 10’ |
| No. Drive In / Grade-Level Doors | 4 |
| Zoning | HB - Carolina Beach |
Amenities
- 24 Hour Access
- Signage
- Storage Space
- Monument Signage
- Air Conditioning
Utilities
- Water
- Sewer
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | R08814-003-092-000 | Improvements Assessment | $3,247,719 CAD |
| Land Assessment | $1,936,633 CAD | Total Assessment | $5,184,352 CAD |
Property Taxes
Parcel Number
R08814-003-092-000
Land Assessment
$1,936,633 CAD
Improvements Assessment
$3,247,719 CAD
Total Assessment
$5,184,352 CAD
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Cross Bridge Commons | 1204 N Lake Park Blvd
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