Former Bank Building With
For Sale
$600,000
201 New Bridge St, Jacksonville, NC 28540
Flexible layout includes private offices, shared areas, restrooms, and utility space.
Property Size4,452 SF
Price / SF$134.77
Days on Market53
Property Features for 201 New Bridge St
General Information
Standard status
Active
Size
4,452 SF
Property subtype
Commercial
Building Details
Year Built
1961
Listing Agency:
HomeSmart Connections
(910) 545-0220
Listed By:
Allison Silva · License #346460
Source:
Searchgreateraugustahomes
Added: Jun 22
Changed: Aug 13
Last Checked: Aug 13 at 3:29AM
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 HomeSmart Connections
Investment Insights
Based on property information with market context.
Built in 1961, this 4,452-square-foot former bank property in downtown Jacksonville includes multiple private offices, common areas, restrooms, and a utility area. The original bank vault remains in place, adding a distinctive feature to the existing commercial configuration.
The property is located at 201 New Bridge St and is within walking distance of government offices, the courthouse, restaurants, and retail. Ample on-site parking and a visible downtown setting further define the property’s existing characteristics.
The property is located at 201 New Bridge St and is within walking distance of government offices, the courthouse, restaurants, and retail. Ample on-site parking and a visible downtown setting further define the property’s existing characteristics.
Key Highlights
- 4,452‑square‑foot former bank building
- Original bank vault remains in the property
- Multiple private offices with common areas
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
$51,087
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
8.51%
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%
$1,021,740
$1.0M
Cap Rate 7%
$729,814
$729.8K
Cap Rate 9%
$567,633
$567.6K
Market Conditions
NOI Build-Up for 4,452 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
$80.1K $18.00/SF
− Vacancy
−$12.0K −$2.70/SF
EGI
$68.1K $15.30/SF
− OpEx
−$17.0K −$3.82/SF
NOI
$51.1K $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%
$1,021,740
Cap Rate 7%
$729,814
Cap Rate 9%
$567,633
Alternative Uses
Best Use
Specialty Retail
$815.7K
$713.7K – $951.6K
NOI $57,097 @ 7.0% cap · market cap 9.52%
Second Best
Office B
$729.8K
$638.6K – $851.5K
NOI $51,087 @ 7.0% cap · market cap 8.51%
Theoretical Best
Office A
$967.1K
$846.2K – $1.13M
NOI $67,699 @ 7.0% cap · market cap 11.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
883
Businesses Nearby
Explore this area
Business Placement
Demographics for 28540, NC
49,739
Population
21,466
Households
2.3
Avg Household Size
32
Median Age
23%
College-Educated
92%
High-School Grad
110.3 sq mi
ZIP Area
451
Density / Sq Mi
$61,462
Median Household Income
$32,313
Median Earnings
$1,014
Median Rent
$201,700
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?
Bank - Flexible layout includes private offices, shared areas, restrooms, and utility space.
Where is this bank located?
The property is located at 201 New Bridge St Jacksonville, NC.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 4,452‑square‑foot former bank building; Original bank vault remains in the property; Multiple private offices with common areas
