Renovated Office
For Sale
$995,000
1923 Lejeune Boulevard, Jacksonville, NC 28546
Flexible layout includes private offices, a large conference room, and additional upper-level space.
Property Size6,253 SF
Price / SF$159.12
Days on Market130
Property Features for 1923 Lejeune Boulevard
General Information
Standard status
Active
Size
6,253 SF
Building Details
Year Built
1950
Listing Agency:
Military Relocator, Inc.
(910) 330-8388
Listed By:
Rodney E Beckman · License #206065
Source:
Advantagecoastalproperties
Added: Apr 24
Changed: Aug 29
Last Checked: Aug 30 at 8:16PM
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 Military Relocator, Inc.
Investment Insights
Based on property information with market context.
This office building presents a renovated professional setting with 16 private offices, expansion capacity, and a 27' x 48' conference room designed to accommodate up to 110 people. A usable second floor adds storage or future build-out flexibility, while a reinforced 9' x 25' concrete safe room provides additional secure space. The property also includes 37+ parking spaces with room to expand.
Positioned along Lejeune Boulevard, the building is 2.2 miles from the main gate of Marine Corps Base Camp Lejeune and 1 mile from the Wilson Gate. Reported traffic exceeds 35,000 vehicles daily, and an oversized sign is visible from two stoplights away. The property is within a designated HUBZone.
Positioned along Lejeune Boulevard, the building is 2.2 miles from the main gate of Marine Corps Base Camp Lejeune and 1 mile from the Wilson Gate. Reported traffic exceeds 35,000 vehicles daily, and an oversized sign is visible from two stoplights away. The property is within a designated HUBZone.
Key Highlights
- 16 private offices with additional expansion capacity
- 27' x 48' conference room accommodating up to 110 people
- 37+ parking spaces with room to expand
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
$71,753
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
7.21%
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%
$1,435,060
$1.4M
Cap Rate 7%
$1,025,043
$1.0M
Cap Rate 9%
$797,256
$797.3K
Market Conditions
NOI Build-Up for 6,253 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
$112.6K $18.00/SF
− Vacancy
−$16.9K −$2.70/SF
EGI
$95.7K $15.30/SF
− OpEx
−$23.9K −$3.82/SF
NOI
$71.8K $11.48/SF
Area
Onslow County, NC
Vacancy
15.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,435,060
Cap Rate 7%
$1,025,043
Cap Rate 9%
$797,256
Alternative Uses
Best Use
Office B
$1.03M
$896.9K – $1.20M
NOI $71,753 @ 7.0% cap · market cap 7.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.36M
$1.19M – $1.58M
NOI $95,086 @ 7.0% cap · market cap 9.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
456
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Flexible layout includes private offices, a large conference room, and additional upper-level space.
Where is this office building located?
The property is located at 1923 Lejeune Boulevard Jacksonville, NC.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 16 private offices with additional expansion capacity; 27' x 48' conference room accommodating up to 110 people; 37+ parking spaces with room to expand
