Hotel Redevelopment
For Sale
Contact for pricing
1613 N Marine Blvd, Jacksonville, NC 28546
Hotel property with an additional parcel and redevelopment potential along Marine Boulevard.
Property Size10,638 SF
Price / SF$141
Days on Market12
Property Features for 1613 N Marine Blvd
General Information
Standard status
Active
Size
10,638 SF
Property subtype
HOSPITALITY
Listing Agency:
Noble Commercial Real Estate Group
(910) 617-8296
Listed By:
Nicholas Silivanch · License #263168
(910) 617-8296
Source:
Moodyscre
Added: Jul 30
Changed: Aug 9
Last Checked: Aug 9 at 7:49AM
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 Noble Commercial Real Estate Group
Investment Insights
Based on property information with market context.
This 10,638-square-foot hotel property includes an additional parcel and is positioned for redevelopment. The existing hotel may also be repurposed, subject to applicable approvals and feasibility. The property is located at 1613 N Marine Blvd in Jacksonville, North Carolina, just north of the intersection with Gum Branch Road.
Key Highlights
- 10,638‑square‑foot hotel property
- Additional parcel included
- Existing hotel may be repurposed
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
$43,232
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
2.88%
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%
$864,640
$864.6K
Cap Rate 7%
$617,600
$617.6K
Cap Rate 9%
$480,356
$480.4K
Market Conditions
NOI Build-Up for 10,638 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
$106.0K $9.96/SF
− Vacancy
−$14.9K −$1.40/SF
EGI
$91.0K $8.56/SF
− OpEx
−$47.8K −$4.49/SF
NOI
$43.2K $4.06/SF
Area
Onslow County, NC
Vacancy
14.10%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
52.50%
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%
$864,640
Cap Rate 7%
$617,600
Cap Rate 9%
$480,356
Alternative Uses
Best Use
Hotel Hospitality
$617.6K
$540.4K – $720.5K
NOI $43,232 @ 7.0% cap · market cap 2.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.31M
$2.02M – $2.70M
NOI $161,766 @ 7.0% cap · market cap 10.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
528
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Hotel - Hotel property with an additional parcel and redevelopment potential along Marine Boulevard.
Where is this hotel located?
The property is located at 1613 N Marine Blvd 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: 10,638‑square‑foot hotel property; Additional parcel included; Existing hotel may be repurposed
