10-Home Multifamily
New
For Sale
$1,500,000
111 Villa Dr, Jacksonville, NC 28546
Tenant-occupied rental homes are offered as a complete portfolio, smaller groupings, or individual properties.
Property Size14,230 SF
Price / SF$105.41
Days on Market6
Property Features for 111 Villa Dr
General Information
Standard status
Active
Size
14,230 SF
Occupancy
100%
Additional Details
Multifamily Units
10
Building Details
Year Built
1978
Buildings
10
Tenancy
Multi
Listing Agency:
Keller Williams Innovate-Wilmington
(404) 668-6621
Listed By:
The Domenico Grillo Real Estate Team · License #263277
Source:
Advantagecoastalproperties
Added: Aug 26
Changed: Aug 28
Last Checked: Aug 30 at 8:21PM
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 Keller Williams Innovate-Wilmington
Investment Insights
Based on property information with market context.
This multifamily offering comprises 10 rental homes within the same Jacksonville community. The homes are currently occupied under month-to-month leases, providing flexible lease positioning for a future owner. The portfolio has a reported PropertySize of 14,230 and dates to 1978.
Properties included are 102 Villa Drive; 111 Villa Drive; and 204, 206, 208, 400, 433, 528, 611, and 629 Myrtlewood Circle. The homes may be acquired together, in smaller package groupings, or individually, creating multiple acquisition formats within one offering.
Properties included are 102 Villa Drive; 111 Villa Drive; and 204, 206, 208, 400, 433, 528, 611, and 629 Myrtlewood Circle. The homes may be acquired together, in smaller package groupings, or individually, creating multiple acquisition formats within one offering.
Key Highlights
- 10 rental homes located within the same community
- All homes are tenant‑occupied on month‑to‑month leases
- Reported PropertySize of 14,230
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
$129,372
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
8.62%
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%
$2,587,440
$2.6M
Cap Rate 7%
$1,848,171
$1.8M
Cap Rate 9%
$1,437,467
$1.4M
Market Conditions
NOI Build-Up for 14,230 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
$247.6K $17.40/SF
− Vacancy
−$12.4K −$0.87/SF
EGI
$235.2K $16.53/SF
− OpEx
−$105.8K −$7.44/SF
NOI
$129.4K $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%
$2,587,440
Cap Rate 7%
$1,848,171
Cap Rate 9%
$1,437,467
Alternative Uses
Best Use
Apartment 5plus
$1.85M
$1.62M – $2.16M
NOI $129,372 @ 7.0% cap · market cap 8.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.09M
$2.70M – $3.61M
NOI $216,387 @ 7.0% cap · market cap 14.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,258
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Tenant-occupied rental homes are offered as a complete portfolio, smaller groupings, or individual properties.
Where is this multifamily property located?
The property is located at 111 Villa Dr Jacksonville, NC.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 10 rental homes located within the same community; All homes are tenant‑occupied on month‑to‑month leases; Reported PropertySize of 14,230
