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    Medical Office in Jacksonville District Title is generated by Realmo AI

    29 Office Park Drive, Jacksonville, NC 28546

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    Claim this Listing
    For Lease
    $3,300/Mo $16 SF/Yr (calc)

    Medical office space in Jacksonville's medical district for rent.

    Type:Rental
    Property size:
    2,400 SF
    Lot size:
    0.76 Acres
    Added:
    Jan 13, 2025
    Days on Market:
    499
    Last Refresh:
    May 19 at 10:42 pm

    Property Features for 29 Office Park Drive

    General Information

    Standard status
    Active
    Size
    2,400 SF
    Lot size
    0.76 Acres
    Property subtype
    Rental

    Building Details

    Year Built
    1995

    We can help!

    Listing Contact
    Byron Aynes
    Byron Aynes

    Listing agent Byron Aynes License #278747

    Listing office The Overton Group

    Listing date Jan 13, 2025

    Source Exitrealty

    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 The Overton Group

    HighLights

    • Prime location in Jacksonville's established medical district with high visibility and easy access.
    • Six of eight offices/exam rooms are equipped with plumbing.
    • Landlord covers essential utilities and maintenance.
    • Ample parking and signage opportunities available.
    • Functional layout includes reception area, waiting room, unisex bathroom, and flexible space.
    • Located near Jacksonville Mall and Western Blvd.

    Overview

    This existing medical office is situated in Jacksonville's medical district on Office Park Drive, behind the Jacksonville Mall and near Western Boulevard. The office is located in a district with numerous medical practices covering various specialties, making it accessible for Onslow County residents. The office includes plumbing in six of the eight offices, which can be used as exam rooms. It also features one unisex bathroom, a large enclosed reception area, and a separate waiting room for patients. There is ample space available for a personal office, a break room, or lab space. The unit shares a common mudroom with the adjacent practice. The property offers visibility, ample parking, and signage opportunities on both the pylon sign and on the building, subject to local regulations. The landlord covers water, sewer, and electric expenses, along with pest control, lawn care, HVAC maintenance, and security, as part of the monthly TICAM charges, estimated at $6.50 per year. The estimated total monthly rent for the first year is $4,600 per month. The property size is 2400 square feet.
    Location Intelligence

    Current Use by Public Records

    Mozie Benjamin C ... Physician Dr. Garrett L. ... Physician Valentine T. Hamilton, ... Physician Shalom Medical PC Medical Clinic EZ Medical Weight ... Physician

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Academy Animal Hospital PA — 237 Western Blvd, Jacksonville, NC 28546
    • Rodriguez Viviana DVM — 237 Western Blvd, Jacksonville, NC 28546, United States
    • ​​Laurel Collier, DVM — 237 Western Blvd, Jacksonville, NC 28546
    • Adoption First Veterinary Clinic — 114 Enterprise St, Jacksonville, NC 28546
    • Lewis Catherine DVM — 237 Western Blvd, Jacksonville, NC 28546

    Location Insight

    • Map
    • Local Demand
    City
    Jacksonville
    County
    Onslow
    State
    North Carolina
    Longitude
    -77.376578
    Latitude
    34.7641893

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    FAQs

    What type of property is this?
    Medical Office Space - Medical office space in Jacksonville's medical district for rent.
    Where is this medical office space located?
    The property is located at 29 Office Park Drive Jacksonville, NC.
    What is the lease rate?
    The lease rate is $3,300 /Mo.
    What are key features of this property?
    This property features: Prime location in Jacksonville's established medical district with high visibility and easy access.; Six of eight offices/exam rooms are equipped with plumbing.; Landlord covers essential utilities and maintenance.
    (252) 375-8620
    We can help!
    Listing Contact
    Byron Aynes
    Byron Aynes
    Real Estate License ID: 278747
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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