Three-Unit Medical Office
For Sale
$1,300,000
215 Station Street, Jacksonville, NC 28546
Commercial Sale, Jacksonville, NC
Property Size8,434 SF
Lot Size0.48 Acres
Price / SF$154.14
Days on Market199
Property Features for 215 Station Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
IND
Parking
34
Parking features
Off Street, Parking Lot
Subdivision
Not In Subdivision
Directions
Western Blvd to Old White St, turn Left on Station St
Standard status
Active
APN
346l-2.7
Size
8,434 SF
Lot size
0.48 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
L7 White St Med Cntr Revised Plat 27/212
Tax Annual Amount
17570
Legal Description
L7 White St Med Cntr Revised Plat 27/212
Utilities
Heating system
Heat Pump (Heating), Electric (Heating)
Cooling system
Heat Pump
Water source
Public
Building Details
Year built
1999
Number of units
3
Flooring type
Tile, Carpet
Building materials
Synthetic Stucco, Steel Frame
Roof type
Shingle
Listing Agency:
RE/MAX Executive
(910) 741-0505
Listed By:
Michael Odham · License #312002
(276) 780-9770
Added: Mar 20
Changed: Sep 16
Last Checked: Oct 4 at 11:06PM
MLS# 100561570
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.
Built in 1999, this 8,434-square-foot medical office property includes three units on a 0.48-acre site. Each suite has its own entrance and a similar configuration. Unit A includes four bathrooms, four exam rooms, reception and office areas, a waiting room, breakroom, storage, and a utility closet. Additional space upstairs provides flexible office use, two enclosed eave-storage areas, two private offices, and a private bathroom.
The property is near Onslow Memorial Hospital and is zoned IND. Construction consists of a steel frame with synthetic stucco, while interior finishes include tile and carpet. Building systems include electric heat pump heating and heat pump cooling, with public water service. On-site parking is provided through a parking lot and off-street spaces.
The property is near Onslow Memorial Hospital and is zoned IND. Construction consists of a steel frame with synthetic stucco, while interior finishes include tile and carpet. Building systems include electric heat pump heating and heat pump cooling, with public water service. On-site parking is provided through a parking lot and off-street spaces.
Key Highlights
- 8,434‑square‑foot medical office building on 0.48 acres
- Three units with separate entrances and similar layouts
- Unit A includes 4 bathrooms and 4 exam rooms
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
$104,386
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
8.03%
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%
$2,087,720
$2.1M
Cap Rate 7%
$1,491,229
$1.5M
Cap Rate 9%
$1,159,844
$1.2M
Market Conditions
NOI Build-Up for 8,434 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
$182.2K $21.60/SF
− Vacancy
−$8.2K −$0.97/SF
EGI
$174.0K $20.63/SF
− OpEx
−$69.6K −$8.25/SF
NOI
$104.4K $12.38/SF
Area
Onslow County, NC
Vacancy
4.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
40.00%
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%
$2,087,720
Cap Rate 7%
$1,491,229
Cap Rate 9%
$1,159,844
Alternative Uses
Best Use
Healthcare Medical
$1.49M
$1.30M – $1.74M
NOI $104,386 @ 7.0% cap · market cap 8.03%
Second Best
Office B
$1.38M
$1.21M – $1.61M
NOI $96,780 @ 7.0% cap · market cap 7.44%
Theoretical Best
Office A
$1.83M
$1.60M – $2.14M
NOI $128,251 @ 7.0% cap · market cap 9.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Office units
Location Intelligence
Trade Area within ½ mile
1,216
Businesses Nearby
Well-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Separate entrances and comparable suite layouts support flexible occupancy across the medical office property.
Where is this medical office space located?
The property is located at 215 Station Street Jacksonville, NC.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 8,434‑square‑foot medical office building on 0.48 acres; Three units with separate entrances and similar layouts; Unit A includes 4 bathrooms and 4 exam rooms
