Office Building with Private
For Sale
$495,000
204 Bayshore Boulevard, Jacksonville, NC 28540
Office building with an open layout, dedicated office space, kitchen, two bathrooms, and a private side entrance.
Property Size2,019 SF
Price / SF$245.17
Days on Market214
Property Features for 204 Bayshore Boulevard
General Information
Standard status
Active
Size
2,019 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$2,295
Amenities
two bathrooms
dedicated office space
functional kitchen area
private side entrance
on site shed
Central Air, Electric, Heat Pump
3
OI
Parking. Corner Lot.
Asphalt, Paved Driveway, Lot.
155x150x152.76x151.93
Freestanding. Corner, Asphalt, Paved Road.
Building Details
Year Built
1978
Listing Agency:
Coldwell Banker Sea Coast Advantage-Hampstead
(910) 467-7642
Listed By:
Diane Castro-Perez · License #245995
(910) 467-7642
Source:
Xome
Added: Jan 7
Changed: Aug 8
Last Checked: Aug 9 at 5:34AM
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 Coldwell Banker Sea Coast Advantage-Hampstead
Investment Insights
Based on property information with market context.
This versatile office building offers an open concept layout designed to support large meetings, events, and collaborative work. The space includes dedicated office area, a functional kitchen, and two bathrooms for day-to-day usability. A private side entrance provides convenient, discreet access for staff or clients.
Located at 204 E Bayshore Boulevard, the property sits on a generous lot with ample parking, supported by its downtown setting. On-site storage is available via an on-site shed, adding flexibility for business supplies and overflow storage needs.
Overall, the building combines flexible open space with enclosed areas, practical amenities, and controlled entry, making it well-suited for organizations seeking an office environment that can accommodate both meetings and regular operations.
Located at 204 E Bayshore Boulevard, the property sits on a generous lot with ample parking, supported by its downtown setting. On-site storage is available via an on-site shed, adding flexibility for business supplies and overflow storage needs.
Overall, the building combines flexible open space with enclosed areas, practical amenities, and controlled entry, making it well-suited for organizations seeking an office environment that can accommodate both meetings and regular operations.
Key Highlights
- Office building built in 1978 with an open concept layout for meetings, events, or collaborative workspaces
- Includes dedicated office space, a functional kitchen area, and 2 bathrooms
- Private side entrance for convenient, discreet staff or client access
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
$23,168
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
4.68%
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%
$463,360
$463.4K
Cap Rate 7%
$330,971
$331.0K
Cap Rate 9%
$257,422
$257.4K
Market Conditions
NOI Build-Up for 2,019 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
$36.3K $18.00/SF
− Vacancy
−$5.5K −$2.70/SF
EGI
$30.9K $15.30/SF
− OpEx
−$7.7K −$3.82/SF
NOI
$23.2K $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%
$463,360
Cap Rate 7%
$330,971
Cap Rate 9%
$257,422
Alternative Uses
Best Use
Office B
$331.0K
$289.6K – $386.1K
NOI $23,168 @ 7.0% cap · market cap 4.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$438.6K
$383.8K – $511.7K
NOI $30,702 @ 7.0% cap · market cap 6.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
928
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 - Office building with an open layout, dedicated office space, kitchen, two bathrooms, and a private side entrance.
Where is this office building located?
The property is located at 204 Bayshore Boulevard Jacksonville, NC.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Office building built in 1978 with an open concept layout for meetings, events, or collaborative workspaces; Includes dedicated office space, a functional kitchen area, and 2 bathrooms; Private side entrance for convenient, discreet staff or client access
