Two-Suite Medical Office
For Sale
$1,750,000
219 Station St, Jacksonville, NC 28546
Two matching suites offer reception areas, private offices, open workspace, storage, and employee lounge areas.
Property Size7,962 SF
Price / SF$219.79
Days on Market40
Property Features for 219 Station St
General Information
Standard status
Active
Size
7,962 SF
Additional Details
Office Units
2
Amenities
break room/employee lounge
attic storage area
security features
Building Details
Year Built
2000
Buildings
1
Listing Agency:
Ray Properties, INC
(910) 346-8218
Listed By:
Melissa Kepes · License #145288
Source:
Advantagecoastalproperties
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 28 at 9:10PM
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 7,962-square-foot medical office building, completed in 2000, is arranged as two matching 3,981-square-foot suites. Each suite includes a sizable lobby, receptionist office, five restrooms, open work area, 10 private offices, storage, and utility rooms. The upper level of each suite adds a 760-square-foot break room and employee lounge along with 780 square feet of attic storage. Recent improvements include added security features, and the building is described as being in excellent condition.
The property is located at 219 Station St in Jacksonville, near Onslow Memorial Hospital. Its dual-suite configuration provides two comparable office layouts within one medical office asset, with dedicated support areas and substantial storage in each suite.
The property is located at 219 Station St in Jacksonville, near Onslow Memorial Hospital. Its dual-suite configuration provides two comparable office layouts within one medical office asset, with dedicated support areas and substantial storage in each suite.
Key Highlights
- 7,962 SF medical office building completed in 2000
- Two matching 3,981 SF office suites
- Each suite includes 10 private offices, 5 restrooms, lobby, reception, storage, and utility 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
$98,544
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
5.63%
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%
$1,970,880
$2.0M
Cap Rate 7%
$1,407,771
$1.4M
Cap Rate 9%
$1,094,933
$1.1M
Market Conditions
NOI Build-Up for 7,962 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
$172.0K $21.60/SF
− Vacancy
−$7.7K −$0.97/SF
EGI
$164.2K $20.63/SF
− OpEx
−$65.7K −$8.25/SF
NOI
$98.5K $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%
$1,970,880
Cap Rate 7%
$1,407,771
Cap Rate 9%
$1,094,933
Alternative Uses
Best Use
Healthcare Medical
$1.41M
$1.23M – $1.64M
NOI $98,544 @ 7.0% cap · market cap 5.63%
Second Best
Office B
$1.31M
$1.14M – $1.52M
NOI $91,364 @ 7.0% cap · market cap 5.22%
Theoretical Best
Office A
$1.73M
$1.51M – $2.02M
NOI $121,073 @ 7.0% cap · market cap 6.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Two matching suites offer reception areas, private offices, open workspace, storage, and employee lounge areas.
Where is this medical office space located?
The property is located at 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: 7,962 SF medical office building completed in 2000; Two matching 3,981 SF office suites; Each suite includes 10 private offices, 5 restrooms, lobby, reception, storage, and utility rooms
