Two-Story Mixed-Use
For Sale
$465,000
512 Court Street, Jacksonville, NC 28540
Two-level commercial structure requiring interior build-out for a new retail, office, or mixed-use concept.
Property Size4,400 SF
Price / SF$105.68
Days on Market233
Property Features for 512 Court Street
General Information
Standard status
Active
Size
4,400 SF
Property subtype
Commercial
Zoning
DTB
Taxes and HOA fees
Annual Taxes
$2,628
Building Details
Building Size
4,400 SF
Year Built
1930
Buildings
1
Stories
2
Listing Agency:
Seabolt Real Estate
(910) 363-6298
Listed By:
Dana Hamilton
(910) 363-6298
Source:
Hamiltonrealtygroupnc
Added: Dec 19, 2025
Changed: Aug 9
Last Checked: Aug 9 at 9:19AM
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 Seabolt Real Estate
Investment Insights
Based on property information with market context.
Built in 1930, this two-story mixed-use property contains 4,400 square feet and is positioned for a new interior build-out. The first floor has been stripped to the walls, while the second floor has been cleared to the subfloor, leaving the interior ready for redevelopment rather than an existing finished layout.
The property is located at 512 Court Street in downtown Jacksonville, North Carolina, and carries DTB zoning. Its configuration supports consideration of retail, office, or mixed-use occupancy, subject to applicable zoning and permitting requirements.
The property is located at 512 Court Street in downtown Jacksonville, North Carolina, and carries DTB zoning. Its configuration supports consideration of retail, office, or mixed-use occupancy, subject to applicable zoning and permitting requirements.
Key Highlights
- 4,400‑square‑foot mixed‑use building
- Two‑story configuration
- First floor stripped to the walls
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
$40,804
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
8.78%
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%
$816,080
$816.1K
Cap Rate 7%
$582,914
$582.9K
Cap Rate 9%
$453,378
$453.4K
Market Conditions
NOI Build-Up for 4,400 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
$63.4K $14.40/SF
− Vacancy
−$5.1K −$1.15/SF
EGI
$58.3K $13.25/SF
− OpEx
−$17.5K −$3.97/SF
NOI
$40.8K $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%
$816,080
Cap Rate 7%
$582,914
Cap Rate 9%
$453,378
Alternative Uses
Best Use
Office B
$721.3K
$631.1K – $841.5K
NOI $50,490 @ 7.0% cap · market cap 10.86%
Second Best
Retail
$582.9K
$510.1K – $680.1K
NOI $40,804 @ 7.0% cap · market cap 8.78%
Theoretical Best
Office A
$955.8K
$836.4K – $1.12M
NOI $66,908 @ 7.0% cap · market cap 14.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
775
Businesses Nearby
Explore this area
Business Placement
Demographics for 28540, NC
49,739
Population
21,466
Households
2.3
Avg Household Size
32
Median Age
23%
College-Educated
92%
High-School Grad
110.3 sq mi
ZIP Area
451
Density / Sq Mi
$61,462
Median Household Income
$32,313
Median Earnings
$1,014
Median Rent
$201,700
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 - Two-level commercial structure requiring interior build-out for a new retail, office, or mixed-use concept.
Where is this mixed-use property located?
The property is located at 512 Court Street Jacksonville, NC.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: 4,400‑square‑foot mixed‑use building; Two‑story configuration; First floor stripped to the walls
