Commercial Land with Existing
For Sale
$299,900
1649 Lejeune Boulevard, Jacksonville, NC 28546
Commercial Sale, Jacksonville, NC
Property Size1,537 SF
Lot Size0.46 Acres
Price / SF$195.12
Days on Market594
Property Features for 1649 Lejeune Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CC
Subdivision
Not In Subdivision
Lot features
Level
Directions
From Western Blvd, Right on Lejeune Blvd. Property is on the right
Standard status
Active
APN
347c-69
Size
1,537 SF
Lot size
0.46 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
Lejeune Blvd. Cndf Econ Depr
Tax Annual Amount
2576
Legal Description
Lejeune Blvd. Cndf Econ Depr
Utilities
Water source
Public
Building Details
Year built
1940
Listing Agency:
Advantage Gold Realty
(910) 353-2001
Listed By:
Sherri A Mayes · License #214350
(910) 353-2001
Added: Jan 14, 2025
Changed: Aug 20
Last Checked: Aug 31 at 7:06AM
MLS# 100483573
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 CC-zoned commercial land parcel includes an existing 1,537-square-foot home that was built in 1940 and is conveyed as-is. The property has public water service and road frontage, with a level site configuration described in the property information.
Located at 1649 Lejeune Boulevard in Jacksonville, the property is near Marine Corps Base. Its commercial zoning and existing improvements provide the primary physical characteristics for evaluating the site.
Located at 1649 Lejeune Boulevard in Jacksonville, the property is near Marine Corps Base. Its commercial zoning and existing improvements provide the primary physical characteristics for evaluating the site.
Key Highlights
- CC zoning
- Existing 1,537‑square‑foot home conveyed as‑is
- Home built in 1940
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
$13,974
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
4.66%
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%
$279,480
$279.5K
Cap Rate 7%
$199,629
$199.6K
Cap Rate 9%
$155,267
$155.3K
Market Conditions
NOI Build-Up for 1,537 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
$26.7K $17.40/SF
− Vacancy
−$1.3K −$0.87/SF
EGI
$25.4K $16.53/SF
− OpEx
−$11.4K −$7.44/SF
NOI
$14.0K $9.09/SF
Area
Onslow County, NC
Vacancy
5.00%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
45.00%
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%
$279,480
Cap Rate 7%
$199,629
Cap Rate 9%
$155,267
Alternative Uses
Best Use
Apartment 5plus
$199.6K
$174.7K – $232.9K
NOI $13,974 @ 7.0% cap · market cap 4.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$333.9K
$292.2K – $389.5K
NOI $23,372 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
492
Businesses Nearby
Explore this area
Business Placement
Demographics for 28546, NC
48,547
Population
21,387
Households
2.3
Avg Household Size
30
Median Age
25%
College-Educated
95%
High-School Grad
103.9 sq mi
ZIP Area
467
Density / Sq Mi
$60,552
Median Household Income
$39,487
Median Earnings
$1,174
Median Rent
$212,200
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - CC-zoned commercial site with an existing home conveyed as-is and public water service.
Where is this commercial land located?
The property is located at 1649 Lejeune Boulevard Jacksonville, NC.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: CC zoning; Existing 1,537‑square‑foot home conveyed as‑is; Home built in 1940
