Multi-Tenant Flex
For Sale
$2,800,000
2153 Lejeune Boulevard, Jacksonville, NC 28546
Commercial Sale, Jacksonville, NC
Property Size34,000 SF
Lot Size2.22 Acres
Price / SF$76.82
Days on Market99
Property Features for 2153 Lejeune Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CC
Subdivision
Not In Subdivision
Directions
Hwy 24 Lejeune Blvd, between Pine Valley Rd and Corbin St.
Standard status
Active
APN
352h-24
Size
36,448 SF
Lot size
2.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
L1 TO L8 BL ALLEY SHUGART MORGAN
Tax Annual Amount
23826
Legal Description
L1 TO L8 BL ALLEY SHUGART MORGAN
Utilities
Heating system
Electric (Heating)
Building Details
Year built
1968
Listing Agency:
Ray Properties, INC
(910) 346-8218
Listed By:
Matt C Ray · License #266827
(910) 388-6620
Added: May 28
Changed: Aug 19
Last Checked: Sep 3 at 6:06AM
MLS# 100577340
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 flex-space property at 2153 Lejeune Boulevard comprises a multi-tenant commercial building on approximately 2.22 acres. The improvements date to 1968 and include an existing gym tenant, with parking positioned at both the front and rear of the property. The former furniture-store site offers a commercial layout that can accommodate a range of retail, showroom, warehouse, fitness, and service functions.
The property is situated along Lejeune Boulevard in Jacksonville, near Western Boulevard, Highway 17, Camp Lejeune, and numerous national retailers. CC zoning supports its commercial positioning, while the location provides access to a major retail and commuter corridor. The site includes approximately 2.22 acres for a substantial multi-tenant flex-space setting.
The property is situated along Lejeune Boulevard in Jacksonville, near Western Boulevard, Highway 17, Camp Lejeune, and numerous national retailers. CC zoning supports its commercial positioning, while the location provides access to a major retail and commuter corridor. The site includes approximately 2.22 acres for a substantial multi-tenant flex-space setting.
Key Highlights
- Existing gym tenant occupies space within the multi‑tenant property
- Approximately 2.22 acres along Lejeune Boulevard in Jacksonville, NC
- CC zoning designation
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
$191,181
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
6.83%
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%
$3,823,620
$3.8M
Cap Rate 7%
$2,731,157
$2.7M
Cap Rate 9%
$2,124,233
$2.1M
Market Conditions
NOI Build-Up for 36,448 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
$293.0K $8.04/SF
− Vacancy
−$19.9K −$0.55/SF
EGI
$273.1K $7.49/SF
− OpEx
−$81.9K −$2.25/SF
NOI
$191.2K $5.25/SF
Area
Onslow County, NC
Vacancy
6.80%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
30.00%
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%
$3,823,620
Cap Rate 7%
$2,731,157
Cap Rate 9%
$2,124,233
Alternative Uses
Best Use
Retail
$4.83M
$4.23M – $5.63M
NOI $338,004 @ 7.0% cap · market cap 12.07%
Second Best
Flex RnD
$4.70M
$4.12M – $5.49M
NOI $329,213 @ 7.0% cap · market cap 11.76%
Theoretical Best
Office A
$7.92M
$6.93M – $9.24M
NOI $554,243 @ 7.0% cap · market cap 19.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
252
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Clean Eatz — 1843 Lejeune Blvd, Jacksonville, NC 28546
Frequently Asked Questions
What type of property is this?
Flex space - CC-zoned commercial property with an existing gym tenant, front and rear parking, and access near Camp Lejeune.
Where is this flex space located?
The property is located at 2153 Lejeune Boulevard Jacksonville, NC.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Existing gym tenant occupies space within the multi‑tenant property; Approximately 2.22 acres along Lejeune Boulevard in Jacksonville, NC; CC zoning designation
