10-Home Multifamily
For Sale
$1,500,000
111 Villa Drive, Jacksonville, NC 28546
Commercial Sale, Jacksonville, NC
Property Size14,230 SF
Price / SF$105.41
Days on Market63
Property Features for 111 Villa Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Rmf-Hd
Subdivision
Country Club Villas
Directions
Western Blvd, Country Club Rd, Villa Drive
Standard status
Active
APN
346f-10
Size
14,230 SF
Taxes and HOA fees
Tax Year
2026
Tax Description
L10 S1b Country Club Villas
Tax Annual Amount
1466
Legal Description
L10 S1b Country Club Villas
Utilities
Heating system
Electric (Heating)
Building Details
Year built
1978
Number of units
1
Listing Agency:
Keller Williams Innovate-Wilmington · Keller Williams Realty
(910) 777-2200
Listed By:
The Domenico Grillo Real Estate Team · License #1999023818
(910) 508-7387
Added: Aug 4
Changed: Aug 19
Last Checked: Oct 5 at 2:06PM
MLS# 100593852
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 multifamily offering consists of 10 rental homes totaling 14,230 square feet within one Jacksonville community. The homes are currently occupied, with residents holding month-to-month leases. The portfolio includes properties at 102 Villa Drive, 111 Villa Drive, and 204, 206, 208, 400, 433, 528, 611, and 629 Myrtlewood Circle.
Built in 1978, the homes are heated with electric systems and fall under Rmf-Hd zoning. The properties may be acquired together, in smaller groupings, or individually, allowing the offering to accommodate different acquisition structures. Existing residents have indicated interest in remaining, while the current lease format provides flexibility for future leasing decisions.
Built in 1978, the homes are heated with electric systems and fall under Rmf-Hd zoning. The properties may be acquired together, in smaller groupings, or individually, allowing the offering to accommodate different acquisition structures. Existing residents have indicated interest in remaining, while the current lease format provides flexibility for future leasing decisions.
Key Highlights
- 10 rental homes within one Jacksonville community
- 14,230 square feet across the portfolio
- Tenant‑occupied properties with month‑to‑month leases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$129,372
Cap Rate
8.62%
Suggested Prices Based on Cap Rates
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
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 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
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Current Use
Lease Details
10
Residential units
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Tenant-occupied homes with month-to-month leases offer flexible management options.
Where is this multifamily property located?
The property is located at 111 Villa Drive 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 within one Jacksonville community; 14,230 square feet across the portfolio; Tenant‑occupied properties with month‑to‑month leases
