Downtown Office Building with
For Sale
$600,000
201 New Bridge Street, Jacksonville, NC 28540
Commercial Sale, Jacksonville, NC
Property Size4,452 SF
Lot Size0.31 Acres
Price / SF$134.77
Days on Market47
Property Features for 201 New Bridge Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
DTB
Parking features
Parking Lot
Subdivision
Not In Subdivision
Directions
From US-17 / Marine Blvd, turn onto Court St. Building on left at corner of Court St & New Bridge St.
Standard status
Active
APN
410-18
Size
4,452 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
COURT ST & NEW BRIDGE ST
Tax Annual Amount
3444
Legal Description
COURT ST & NEW BRIDGE ST
Utilities
Heating system
Electric (Heating), Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1961
Listing Agency:
HomeSmart Connections
(910) 378-7737
Listed By:
Allison Silva · License #346460
(910) 545-0220
Added: Jul 17
Changed: Aug 20
Last Checked: Sep 1 at 4:06AM
MLS# 100589736
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.
Positioned at 201 New Bridge Street, this 4,452-square-foot office building occupies a 0.31-acre site and includes the original bank vault. The 1961 property provides multiple private offices, shared areas, restrooms, and a utility room within a flexible commercial layout. Central air, electric forced-air heating, public water, and a dedicated parking lot are in place.
The property is in downtown Jacksonville, within walking distance of government offices, the courthouse, restaurants, and retail. Its location in the city’s revitalized downtown district supports visibility and convenient access to surrounding services. Zoning is designated DTB. The configuration may accommodate professional office, medical or wellness, financial service, nonprofit, and government contractor operations, subject to applicable requirements.
The property is in downtown Jacksonville, within walking distance of government offices, the courthouse, restaurants, and retail. Its location in the city’s revitalized downtown district supports visibility and convenient access to surrounding services. Zoning is designated DTB. The configuration may accommodate professional office, medical or wellness, financial service, nonprofit, and government contractor operations, subject to applicable requirements.
Key Highlights
- 4,452‑square‑foot office building on 0.31 acres
- Original bank vault remains in the building
- Multiple private offices, shared areas, restrooms, and utility room
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
Office B
$729.8K
$638.6K – $851.5K
NOI $51,087 @ 7.0% cap · market cap 8.51%
Second Best
—
—
no second resolved use
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
771
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?
Office building - Flexible layout includes private offices, shared areas, restrooms, and on-site parking.
Where is this office building located?
The property is located at 201 New Bridge Street 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 office building on 0.31 acres; Original bank vault remains in the building; Multiple private offices, shared areas, restrooms, and utility room
