Two-Building Office
For Sale
$900,000
1935 Lejeune Boulevard, Jacksonville, NC 28546
COMMERCIAL - Jacksonville, NC
Property Size7,060 SF
Lot Size0.78 Acres
Price / SF$127.48
Days on Market13
Property Features for 1935 Lejeune Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CC
Subdivision
Not In Subdivision
Directions
From Western Blvd, turn onto Lejeune Blvd. Property will be on the left at 1935 Lejeune Blvd.
Standard status
Active
APN
352c-22 / 352c24
Size
7,060 SF
Lot size
0.78 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Parcel 025500: L9 to L12 PT 20' DR BC SHUGART & MORGAN / Parcel 032128: L1 & L2 BD SHUGART & MORGAN
Legal Description
Parcel 025500: L9 to L12 PT 20' DR BC SHUGART & MORGAN / Parcel 032128: L1 & L2 BD SHUGART & MORGAN
Utilities
Heating system
Electric (Heating), Heat Pump (Heating)
Cooling system
Heat Pump
Building Details
Year built
1995
Flooring type
Carpet, Tile, Lvt/lvp
Listing Agency:
Wise Group Realty INC
(910) 577-1830
Listed By:
Terri Willis · License #203204
(910) 546-8615
Added: Aug 7
Changed: Aug 19
Last Checked: Aug 19 at 7:06PM
MLS# 100594819
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 office property at 1935 Lejeune Boulevard comprises two buildings totaling 7,060 square feet on 0.78 acres. The principal building was completed in 1995, while the adjacent smaller office was renovated during construction of the larger structure. The smaller building requires repairs. Existing improvements also include parking areas and a detached shed.
The property is zoned CC and includes a deeded utility easement. Interior finishes include carpet, tile, and LVT/LVP flooring. Heating is provided by electric systems and heat pumps, with heat-pump cooling. The offering includes tax parcels 025500 and 032128, subject to buyer verification of boundaries, parking, zoning, permitted uses, and other property details during due diligence.
The property is zoned CC and includes a deeded utility easement. Interior finishes include carpet, tile, and LVT/LVP flooring. Heating is provided by electric systems and heat pumps, with heat-pump cooling. The offering includes tax parcels 025500 and 032128, subject to buyer verification of boundaries, parking, zoning, permitted uses, and other property details during due diligence.
Key Highlights
- Two office buildings totaling 7,060 square feet
- 0.78‑acre property with existing parking areas
- Main office building constructed in 1995
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
$81,014
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
9.00%
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%
$1,620,280
$1.6M
Cap Rate 7%
$1,157,343
$1.2M
Cap Rate 9%
$900,156
$900.2K
Market Conditions
NOI Build-Up for 7,060 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
$127.1K $18.00/SF
− Vacancy
−$19.1K −$2.70/SF
EGI
$108.0K $15.30/SF
− OpEx
−$27.0K −$3.82/SF
NOI
$81.0K $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%
$1,620,280
Cap Rate 7%
$1,157,343
Cap Rate 9%
$900,156
Alternative Uses
Best Use
Office B
$1.16M
$1.01M – $1.35M
NOI $81,014 @ 7.0% cap · market cap 9.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.53M
$1.34M – $1.79M
NOI $107,357 @ 7.0% cap · market cap 11.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Office campus with parking, a detached shed, and a second building requiring repairs.
Where is this office building located?
The property is located at 1935 Lejeune Boulevard Jacksonville, NC.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Two office buildings totaling 7,060 square feet; 0.78‑acre property with existing parking areas; Main office building constructed in 1995
