27-Unit Mixed-Use
For Sale
$789,000
411 Western Boulevard, Jacksonville, NC 28546
COMMERCIAL - Jacksonville, NC
Property Size7,170 SF
Lot Size0.44 Acres
Price / SF$110.01
Days on Market107
Property Features for 411 Western Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CC
Parking features
Parking Lot
Directions
Traveling North on Hwy 17 you will bear to the right following signs for NC-24 E/Camp Lejeune/Morehead City/New Bern. Travel approximately 6.5 miles and turn right onto NC-53/Western Blvd. The building is approximately .7 miles down on the right hand side.
Standard status
Active
APN
346f-82
Size
7,172 SF
Lot size
0.44 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SR 1470
Tax Annual Amount
10885
Legal Description
SR 1470
Utilities
Heating system
Electric (Heating)
Building Details
Year built
1985
Building materials
Wood Siding
Roof type
Shingle, Metal
Listing Agency:
Keller Williams Innovate-Wilmington · Keller Williams Realty
(910) 777-2200
Listed By:
Greg A Edgerton · License #330041
(704) 813-0561
Added: May 5
Changed: Aug 19
Last Checked: Aug 19 at 7:06PM
MLS# 100571739
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 mixed-use commercial building was constructed in 1985 with wood siding, shingle and metal roofing, electric heat, and an on-site parking lot. The interior supports office, retail, retail-service, and potential medical or dental uses, with a layout that can accommodate multiple occupants or larger configurations. Four sections have front and rear entrances, restrooms, and break areas, while four power meters support separate operations.
Positioned on Western Boulevard in Jacksonville, the property benefits from reported traffic exceeding 30,000 vehicles per day. CC zoning applies to the site. The building currently contains 27 units, including 19 available for lease, providing an existing multi-occupant format with additional leasing capacity.
Positioned on Western Boulevard in Jacksonville, the property benefits from reported traffic exceeding 30,000 vehicles per day. CC zoning applies to the site. The building currently contains 27 units, including 19 available for lease, providing an existing multi-occupant format with additional leasing capacity.
Key Highlights
- 27‑unit mixed‑use building with 19 units available for lease
- Four sections, each with front and rear entrances, restrooms, and break areas
- Four power meters support separate section configurations
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
$66,510
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
8.43%
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%
$1,330,200
$1.3M
Cap Rate 7%
$950,143
$950.1K
Cap Rate 9%
$739,000
$739.0K
Market Conditions
NOI Build-Up for 7,172 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
$103.3K $14.40/SF
− Vacancy
−$8.3K −$1.15/SF
EGI
$95.0K $13.25/SF
− OpEx
−$28.5K −$3.97/SF
NOI
$66.5K $9.27/SF
Area
Onslow County, NC
Vacancy
8.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$1,330,200
Cap Rate 7%
$950,143
Cap Rate 9%
$739,000
Alternative Uses
Best Use
Office B
$1.18M
$1.03M – $1.37M
NOI $82,299 @ 7.0% cap · market cap 10.43%
Second Best
Retail
$950.1K
$831.4K – $1.11M
NOI $66,510 @ 7.0% cap · market cap 8.43%
Theoretical Best
Office A
$1.56M
$1.36M – $1.82M
NOI $109,060 @ 7.0% cap · market cap 13.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,247
Businesses Nearby
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?
Mixed-use property - Flexible office and retail configuration with separate entrances, restrooms, break areas, and parking on Western Boulevard.
Where is this mixed-use property located?
The property is located at 411 Western Boulevard Jacksonville, NC.
What is the asking price?
The asking price for this property is $789,000.
What are key features of this property?
This property features: 27‑unit mixed‑use building with 19 units available for lease; Four sections, each with front and rear entrances, restrooms, and break areas; Four power meters support separate section configurations
