Free-Standing Office Building in
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301 Northwest Drive, Jacksonville, NC
12,026 SF office building with 39 offices in Jacksonville.
Property Size12,026 SF
Lot Size1.12 Acres
Price / SF$245.30
Days on Market432
Property Features for 301 Northwest Drive
General Information
Standard status
Active
Size
12,026 SF
Lot size
1.12 Acres
Property subtype
OFFICE
Listing Agency:
Ray Properties Inc
(910) 388-6620
Listed By:
Matthew Ray · License #266827
(910) 388-6620
Source:
Moodyscre
Added: Jun 6, 2025
Changed: Aug 8
Last Checked: May 20 at 8:21PM
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 12,026 square foot free-standing office building is located in Jacksonville, North Carolina. The building features a reception area, lobby, 39 offices, an exam room, a full kitchen, a resource center, and a conference room. Additional amenities include copy rooms, a laundry room, a break room, six 2-fixture restrooms, and storage space. The property is described as being in excellent, well-maintained condition.
Key Highlights
- Premier location in Jacksonville, NC
- Large 12,026 SF free‑standing office building
- Well‑maintained condition
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
$137,998
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
4.68%
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%
$2,759,960
$2.8M
Cap Rate 7%
$1,971,400
$2.0M
Cap Rate 9%
$1,533,311
$1.5M
Market Conditions
NOI Build-Up for 12,026 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
$216.5K $18.00/SF
− Vacancy
−$32.5K −$2.70/SF
EGI
$184.0K $15.30/SF
− OpEx
−$46.0K −$3.82/SF
NOI
$138.0K $11.48/SF
Area
Onslow County, NC
Vacancy
15.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$2,759,960
Cap Rate 7%
$1,971,400
Cap Rate 9%
$1,533,311
Alternative Uses
Best Use
Office B
$1.97M
$1.72M – $2.30M
NOI $137,998 @ 7.0% cap · market cap 4.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.61M
$2.29M – $3.05M
NOI $182,872 @ 7.0% cap · market cap 6.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
458
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - 12,026 SF office building with 39 offices in Jacksonville.
Where is this office building located?
The property is located at 301 Northwest Drive Jacksonville, NC.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Premier location in Jacksonville, NC; Large 12,026 SF free‑standing office building; Well‑maintained condition
