Multi-Tenant Flex
For Sale
$2,800,000
2153 Lejeune Boulevard, Jacksonville, NC 28546
CC-zoned commercial property with an existing gym tenant, front and rear parking, and access to major Jacksonville corridors.
Property Size36,448 SF
Lot Size2.22 Acres
Price / SF$76.82
Days on Market77
Property Features for 2153 Lejeune Boulevard
General Information
Standard status
Active
Size
36,448 SF
Lot size
2.22 Acres
Property subtype
Commercial
Zoning
CC
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$23,826
Building Details
Building Size
36,448 SF
Year Built
1968
Tenancy
Multi
Listing Agency:
Ray Properties, INC
(910) 388-6620
Listed By:
Matt C Ray · License #266827
(910) 388-6620
Source:
Frankerealproperties
Added: May 28
Changed: Aug 12
Last Checked: Aug 12 at 6:40AM
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 Ray Properties, INC
Investment Insights
Based on property information with market context.
This multi-tenant flex property was built in 1968 and occupies approximately 2.22 acres under CC zoning. The building includes an existing gym tenant and offers a commercial layout suited to a range of operating formats, including retail, showroom, warehouse, fitness, and service uses. Parking is available at both the front and rear of the property, with prominent signage and frontage along Lejeune Boulevard.
The property is positioned near Western Boulevard and Highway 17, outside Camp Lejeune and near numerous national retailers. Its location along a busy retail and commuter corridor provides direct access to established commercial activity in Jacksonville.
The property is positioned near Western Boulevard and Highway 17, outside Camp Lejeune and near numerous national retailers. Its location along a busy retail and commuter corridor provides direct access to established commercial activity in Jacksonville.
Key Highlights
- Approximately 2.22± acres with CC zoning
- Existing gym tenant in a multi‑tenant commercial property
- Front and rear parking 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
$232,148
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
8.29%
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%
$4,642,960
$4.6M
Cap Rate 7%
$3,316,400
$3.3M
Cap Rate 9%
$2,579,422
$2.6M
Market Conditions
NOI Build-Up for 36,448 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
$293.0K $8.04/SF
− Vacancy
−$19.9K −$0.55/SF
EGI
$273.1K $7.49/SF
− OpEx
−$41.0K −$1.12/SF
NOI
$232.1K $6.37/SF
Area
Onslow County, NC
Vacancy
6.80%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
15.00%
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%
$4,642,960
Cap Rate 7%
$3,316,400
Cap Rate 9%
$2,579,422
Alternative Uses
Best Use
Retail
$4.83M
$4.23M – $5.63M
NOI $338,004 @ 7.0% cap · market cap 12.07%
Second Best
Flex RnD
$4.70M
$4.12M – $5.49M
NOI $329,213 @ 7.0% cap · market cap 11.76%
Theoretical Best
Office A
$7.92M
$6.93M – $9.24M
NOI $554,243 @ 7.0% cap · market cap 19.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
388
Businesses Nearby
Under-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
Market
Vacancy Rate% for Industrial 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?
Flex space - CC-zoned commercial property with an existing gym tenant, front and rear parking, and access to major Jacksonville corridors.
Where is this flex space located?
The property is located at 2153 Lejeune Boulevard Jacksonville, NC.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Approximately 2.22± acres with CC zoning; Existing gym tenant in a multi‑tenant commercial property; Front and rear parking areas
