Triple Net Leased College
105 New Frontier Way Jacksonville, NC 28546
For Sale
$2,900,000
Class A office/classroom space leased to Miller Motte College on a triple net basis, with an added electrical training facility.
Property Size13,332 SF
Price / SF$217.52
Days on Market445
Property Features for 105 New Frontier Way
General Information
- Standard status
- Active
- Size
- 13,332 SF
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 2011
Listing Agency:
Ray Properties, INC
(910) 388-6620
Listed By:
Matt C Ray · License #266827
(910) 388-6620
Source:
Exitrealty
Added: May 6, 2025
Changed: Jul 23
Last Checked: Jul 23 at 1:55PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Ray Properties, INC
Investment Insights
Based on property information with market context.
This triple net leased property comprises 13,332 square feet of Class A office/classroom/mixed-use space in pristine condition. The building is currently 100% leased to Miller Motte College, with the lease structure described as including multiple 5-year renewals. The offering also notes rent increases on renewal and guaranteed rent for the remaining lease term.
The site includes ample parking and maintained grounds across 3+ acres. A recent addition of an electrical training facility is noted as enhancing the property’s functionality. The property is located at 105 New Frontier Way in Jacksonville, North Carolina, and the remarks also reference a newly constructed Amazon facility of approximately 100,000 square feet nearby that is nearing completion.
The site includes ample parking and maintained grounds across 3+ acres. A recent addition of an electrical training facility is noted as enhancing the property’s functionality. The property is located at 105 New Frontier Way in Jacksonville, North Carolina, and the remarks also reference a newly constructed Amazon facility of approximately 100,000 square feet nearby that is nearing completion.
Key Highlights
- 13,332 SF Class A office/classroom/mixed‑use space built in 2011
- 100% leased to Miller Motte College on a triple net basis
- Recent addition of an on‑site electrical training facility
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $240.0k | $18.00 |
| − Vacancy | −$36.0k | −$2.70 |
| EGI | $204.0k | $15.30 |
| − OpEx | −$51.0k | −$3.82 |
| NOI | $153.0k | $11.48 |
13,332 SF · lease $18.00/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.19M
$1.91M – $2.55M
NOI $152,985 @ 7.0% cap · market cap 5.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.90M
$2.53M – $3.38M
NOI $202,732 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Schools
FAQs
What type of property is this?
School - Class A office/classroom space leased to Miller Motte College on a triple net basis, with an added electrical training facility.
Where is this school located?
The property is located at 105 New Frontier Way Jacksonville, NC.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: 13,332 SF Class A office/classroom/mixed‑use space built in 2011; 100% leased to Miller Motte College on a triple net basis; Recent addition of an on‑site electrical training facility
