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 Market287
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: Sep 28
Last Checked: Oct 2 at 3:06AM
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.
At 512 Court Street in Jacksonville, this two-story, brick mixed-use building contains 4,400 square feet. The first floor has been cleared to the walls, and the second floor to the subfloor, leaving both levels in a stripped interior condition. The building dates to 1930 and sits on a 0.09-acre lot.
The property is in downtown Jacksonville and carries DTB zoning.
The property is in downtown Jacksonville and carries DTB zoning.
Key Highlights
- 4,400‑square‑foot, two‑story mixed‑use building
- First floor cleared to the walls; second floor stripped to the subfloor
- 0.09‑acre lot in downtown Jacksonville
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
Retail
$582.9K
$510.1K – $680.1K
NOI $40,804 @ 7.0% cap · market cap 8.78%
Second Best
Mixed Use
$433.7K
$379.5K – $506.0K
NOI $30,360 @ 7.0% cap · market cap 6.53%
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
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
775
Businesses Nearby
4k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
Port City Java
Dining
4,181 visits/mo
0.3 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - The first floor is cleared to its walls, while the upper level is stripped to the subfloor.
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, two‑story mixed‑use building; First floor cleared to the walls; second floor stripped to the subfloor; 0.09‑acre lot in downtown Jacksonville
