Two-Story Mixed-Use
For Sale
$465,000
512 Court Street, Jacksonville, NC 28540
Commercial Sale, Jacksonville, NC
Property Size4,400 SF
Lot Size0.09 Acres
Price / SF$105.68
Days on Market244
Property Features for 512 Court Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
DTB
Subdivision
Not In Subdivision
Directions
Old Bridge to left on Court ST.
Standard status
Active
APN
410-65
Size
4,400 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Court St 6 102 1st Johnnys Tavern/2nd
Tax Annual Amount
2628
Legal Description
Court St 6 102 1st Johnnys Tavern/2nd
Building Details
Year built
1930
Number of units
1
Building materials
Brick
Listing Agency:
Better Homes and Gardens Real Estate Treasure 4
(910) 327-4444
Listed By:
John Newton · License #294169
(919) 649-0827
Added: Dec 19, 2025
Changed: Aug 19
Last Checked: Aug 20 at 5:06PM
MLS# 100546067
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.
Located at 512 Court Street in downtown Jacksonville, this brick mixed-use building contains 4400 square feet across two stories on a 0.09-acre lot. Constructed in 1930, the property provides a substantial existing structure within the downtown setting.
The interior has been stripped for redevelopment: the first floor is taken down to the walls, while the second floor has been cleared to the subfloor. This condition allows the next owner to establish a new interior configuration rather than work around an existing buildout. DTB zoning supports the property’s mixed-use classification, with the building positioned for a future retail, office, or combined commercial concept.
The interior has been stripped for redevelopment: the first floor is taken down to the walls, while the second floor has been cleared to the subfloor. This condition allows the next owner to establish a new interior configuration rather than work around an existing buildout. DTB zoning supports the property’s mixed-use classification, with the building positioned for a future retail, office, or combined commercial concept.
Key Highlights
- 4400‑square‑foot mixed‑use building at 512 Court Street
- Two‑story brick building constructed in 1930
- 0.09‑acre downtown Jacksonville parcel
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
$30,360
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
6.53%
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%
$607,200
$607.2K
Cap Rate 7%
$433,714
$433.7K
Cap Rate 9%
$337,333
$337.3K
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
$52.8K $12.00/SF
− Vacancy
−$4.2K −$0.96/SF
EGI
$48.6K $11.04/SF
− OpEx
−$18.2K −$4.14/SF
NOI
$30.4K $6.90/SF
Area
Onslow County, NC
Vacancy
8.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
37.50%
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%
$607,200
Cap Rate 7%
$433,714
Cap Rate 9%
$337,333
Alternative Uses
Best Use
Mixed Use
$433.7K
$379.5K – $506.0K
NOI $30,360 @ 7.0% cap · market cap 6.53%
Second Best
—
—
no second resolved use
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
Property Profile
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Brick downtown building with DTB zoning and a stripped interior ready for a new buildout.
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: 4400‑square‑foot mixed‑use building at 512 Court Street; Two‑story brick building constructed in 1930; 0.09‑acre downtown Jacksonville parcel
