Medical Office Building with Two
For Sale
$1,750,000
219 Station Street, Jacksonville, NC 28546
Commercial Sale, Jacksonville, NC
Property Size7,962 SF
Lot Size0.94 Acres
Price / SF$219.79
Days on Market549
Property Features for 219 Station Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
IND
Parking features
Parking Lot
Subdivision
Not In Subdivision
Lot features
Corner Lot
Directions
Wesern Blvd to Old White St, turn Left on Station St
Standard status
Active
APN
346l-2.5
Size
7,962 SF
Lot size
0.94 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
L5 WHITE ST MED CNTR
Tax Annual Amount
20382
Legal Description
L5 WHITE ST MED CNTR
Utilities
Heating system
Electric (Heating), Heat Pump (Heating)
Cooling system
Heat Pump
Water source
Public
Amenities
security features
Building Details
Year built
2000
Flooring type
Tile, Carpet
Building materials
Brick, Brick/Stone
Roof type
Shingle
Listing Agency:
Ray Properties, INC
(910) 346-8218
Listed By:
Melissa Kepes · License #145288
(910) 330-0914
Added: Feb 25, 2025
Changed: Aug 20
Last Checked: Aug 28 at 7:06AM
MLS# 100490797
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.
This 7,962-square-foot medical office property contains two matching 3,981-square-foot suites. Each suite is arranged with a substantial reception lobby, receptionist office, five restrooms, an open work area, 10 private offices, storage, and utility rooms. Upper-level areas add a 760-square-foot break room or employee lounge and 780 square feet of attic storage per suite. The building was constructed in 2000 and features brick and brick/stone construction, tile and carpet flooring, electric heat pump systems, and shingle roofing. Recent improvements include added security features.
The 0.94-acre property is near Onslow Memorial Hospital in Jacksonville, North Carolina. It has a dedicated parking lot, public water service, and IND zoning, providing a substantial existing medical-office configuration for an owner-user or commercial operator.
The 0.94-acre property is near Onslow Memorial Hospital in Jacksonville, North Carolina. It has a dedicated parking lot, public water service, and IND zoning, providing a substantial existing medical-office configuration for an owner-user or commercial operator.
Key Highlights
- 7,962 SF medical office building on 0.94 acres
- Two identical 3,981 SF office suites
- Each suite includes 10 private offices and 5 restrooms
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
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 - Two matching office suites offer private rooms, reception areas, restrooms, storage, and employee lounge space.
Where is this medical office space located?
The property is located at 219 Station Street 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 on 0.94 acres; Two identical 3,981 SF office suites; Each suite includes 10 private offices and 5 restrooms
