Medical Office Space
For Sale
Contact for pricing
217-219 Station St, Jacksonville, NC
Medical office space near Onslow Memorial Hospital, ready for occupancy.
Property Size4,200 SF
Lot Size0.94 Acres
Price / SF$416.67
Days on Market531
Property Features for 217-219 Station St
General Information
Standard status
Active
Size
4,200 SF
Lot size
0.94 Acres
Property subtype
OFFICE
Properties For Sale
at 217-219 Station St Contact us- Size
- 4,200 SF
- Type
- OFFICE
- Lease Type
- MODIFIED_GROSS
- Availability
- AVAILABLE
4200 SF Medical Office Space
Medical office space located near Onslow Memorial Hospital. Suite includes a shared...
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Listing Agency:
Ray Properties Inc
(910) 330-0914
Listed By:
Melissa Kepes · License #145288
(910) 330-0914
Source:
Moodyscre
Added: Feb 25, 2025
Changed: Aug 8
Last Checked: May 20 at 8:45PM
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 medical office space is located near Onslow Memorial Hospital. The suite features a shared vestibule, a large lobby with a restroom, and a receptionist/admin office. It also includes three additional restrooms, a large open space, ten private offices, storage rooms, and utility rooms. The downstairs area encompasses approximately 3500 square feet. Upstairs, there is a 700 square foot break room/employee lounge with a bathroom. The property is in excellent condition, with recent improvements including security features and WIFI. It is ready for immediate occupancy.
Key Highlights
- Prime location near Onslow Memorial Hospital, ideal for medical professionals.
- Move‑in ready condition with recent improvements, including security features and WIFI.
- Extensive space: Approximately 3500 SF downstairs plus a 700 SF upstairs break 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
$51,983
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
2.97%
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%
$1,039,660
$1.0M
Cap Rate 7%
$742,614
$742.6K
Cap Rate 9%
$577,589
$577.6K
Market Conditions
NOI Build-Up for 4,200 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
$90.7K $21.60/SF
− Vacancy
−$4.1K −$0.97/SF
EGI
$86.6K $20.63/SF
− OpEx
−$34.7K −$8.25/SF
NOI
$52.0K $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%
$1,039,660
Cap Rate 7%
$742,614
Cap Rate 9%
$577,589
Alternative Uses
Best Use
Healthcare Medical
$742.6K
$649.8K – $866.4K
NOI $51,983 @ 7.0% cap · market cap 2.97%
Second Best
Office B
$688.5K
$602.4K – $803.3K
NOI $48,195 @ 7.0% cap · market cap 2.75%
Theoretical Best
Office A
$912.4K
$798.3K – $1.06M
NOI $63,867 @ 7.0% cap · market cap 3.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,216
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office space near Onslow Memorial Hospital, ready for occupancy.
Where is this medical office space located?
The property is located at 217-219 Station St Jacksonville, NC.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Prime location near Onslow Memorial Hospital, ideal for medical professionals.; Move‑in ready condition with recent improvements, including security features and WIFI.; Extensive space: Approximately 3500 SF downstairs plus a 700 SF upstairs break room.
