Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Carolina Forest Blvd Jacksonville, NC 28546

    Sponsored
    For Sale
    $2,975,000

    MULTI_FAMILY - Jacksonville, NC

    Lot size:
    20.33 Acres
    Days on Market:
    404
    Last Refresh:
    Feb 2 at 3:06 pm

    Property Features for Carolina Forest Blvd

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Zoning
    Rmf-Hd
    APN
    338-18.8
    Lot size
    20.33 Acres

    We can help!

    Listing Contact
    Matt C Ray
    Matt C Ray

    Ray Properties, INC (910) 346-8218

    Listing agent Matt C Ray (910) 346-8218 License #266827

    Listing date Dec 26, 2024

    MLS# 100481192

    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.

    Learn more

    Property Insight Report

    Overview

    Multifamily Development Land For Sale

    This 20.33-acre parcel is zoned for high-density multifamily development. The property is located on Carolina Forest Boulevard, situated just off Western Boulevard, near a Walmart Neighborhood Market in Jacksonville, North Carolina.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Jacksonville
    County
    Onslow
    State
    North Carolina
    Longitude
    -77.418116
    Latitude
    34.803596

    Nearby Similar for Sale

    • $250,000
      1,611 SF

      Well-Maintained Duplex Near Camp Lejeune

      Duplex near Camp Lejeune with updated units and storage.
      328-330 Starling St, Jacksonville, NC 28540
      View Details
    • $450,000
      Pending

      Jacksonville Quadruplex Investment Opportunity

      Fully occupied quadruplex in Jacksonville, North Carolina, ideal for investors.
      107 Ravenwood Dr, Jacksonville, NC 28546
      View Details
    • $250,000
      Pending

      Duplex Near Downtown Jacksonville

      Duplex with flexible rental options near Camp Lejeune.
      300-302 Starling St, Jacksonville, NC 28540
      View Details
    • New
      $425,000
      Pending

      Jacksonville Mobile Home Park

      Mobile home park with income potential near Camp Lejeune.
      131 Clayton Ave, Jacksonville, NC 28546
      View Details
    • New
      $1,510,870
      16,345 SF

      Jacksonville Multifamily Investment Opportunity

      Two mobile home parks with income enhancement potential in North Carolina.
      629 Haws Run Rd, Jacksonville, NC 28540
      View Details
    • $1,510,870
      Pending

      Jacksonville Multifamily Investment Opportunity

      Two value-add mobile home parks in Eastern North Carolina.
      629 Haws Rd, Jacksonville, NC 28540
      View Details
    • $250,000
      1,637 SF

      Duplex Near Camp Lejeune

      Duplex near Camp Lejeune and New River Air Station.
      304 Starling St, Jacksonville, NC 28540
      View Details
    • $125,000
      0.61 Acres

      Jacksonville Land with Updated Home

      Investment opportunity: .61 acre lot with updated manufactured home.
      1118 Henderson Rd, Jacksonville, NC 28540
      View Details
    • $500,000
      2.86 Acres

      Mobile Home Park Investment Opportunity

      2.86-acre mobile home park with occupied units.
      141 Bronco Ln, Jacksonville, NC 28540
      View Details
    • New
      $249,000
      2,216 SF

      Jacksonville Retail Opportunity For Sale

      Commercial property in Jacksonville's retail corridor, suitable for various businesses.
      126 Henderson Dr, Jacksonville, NC 28540
      View Details
    • New
      $299,000
      2,648 SF

      Functional Office Building, Jacksonville NC

      Move-in ready office building in established Jacksonville business area.
      200 Henderson Dr, Jacksonville, NC 28540
      View Details
    • $115,000
      0.62 Acres

      Mobile Home Lot For Sale

      0.62-acre parcel with a 2-bedroom mobile home in Jacksonville.
      230 Drummer Kellum Rd, Jacksonville, NC 28546
      View Details

    FAQs

    What type of property is this?
    Commercial land - 20.33 acre parcel zoned for high density multifamily development.
    Where is this commercial land located?
    The property is located at Carolina Forest Blvd Jacksonville, NC.
    What is the asking price?
    The asking price for this property is $2,975,000.
    What are key features of this property?
    This property features: - 20.33 acre parcel, perfect for development; - Zoned for high density multifamily development; - Located on Carolina Forest Blvd, offering excellent access
    (910) 388-6620
    Request Owner's contact information
    Carolina Forest Blvd Jacksonville, NC 28546
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Carolina Forest Blvd
    Jacksonville, NC 28546
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Carolina Forest Blvd Jacksonville, NC 28546
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Matt C Ray
    Matt C Ray
    Real Estate License ID: 266827
    (910) 388-6620
    Learn more
    Google sign-in failed. Please try again or use another login method.