Freestanding Office Building with 39
For Sale
$2,950,000
900 Dennis Road, Jacksonville, NC 28546
Commercial Sale, Jacksonville, NC
Property Size12,026 SF
Lot Size1.12 Acres
Price / SF$245.30
Days on Market442
Property Features for 900 Dennis Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CC
Subdivision
Not In Subdivision
Directions
Western Blvd to Dennis Rd, turn between Whistle Express car wash and Carolina East Physicians. It is the One Place building on the left.
Standard status
Active
APN
339-20.23
Size
12,026 SF
Lot size
1.12 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
L8 NORTHWEST BUSINESS PARK
Tax Annual Amount
23801
Legal Description
L8 NORTHWEST BUSINESS PARK
Utilities
Heating system
Electric (Heating)
Amenities
reception area
lobby
offices
exam room
full kitchen
resource center
conference room
copy rooms
laundry room
break room
restrooms
storage
Building Details
Year built
2010
Building materials
Brick
Listing Agency:
Ray Properties, INC
(910) 346-8218
Listed By:
Matt C Ray · License #266827
(910) 388-6620
Added: Jun 6, 2025
Changed: Aug 19
Last Checked: Aug 21 at 10:06AM
MLS# 100512028
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.
Built in 2010, this 12,026-square-foot brick office building occupies 1.12 acres and is configured for substantial professional operations. The interior includes a reception area, lobby, 39 offices, an exam room, full kitchen, resource center, conference room, copy rooms, laundry room, break room, storage, and six 2-fixture restrooms. Electric heating serves the building, which is described as well maintained.
The property is located at 900 Dennis Road in Jacksonville, NC 28546, off the Western Blvd corridor. It carries CC zoning and has a long-term tenant in place. The broad mix of private offices, support rooms, meeting space, and service areas provides a defined office layout within a freestanding building.
The property is located at 900 Dennis Road in Jacksonville, NC 28546, off the Western Blvd corridor. It carries CC zoning and has a long-term tenant in place. The broad mix of private offices, support rooms, meeting space, and service areas provides a defined office layout within a freestanding building.
Key Highlights
- 12,026 SF freestanding brick office building on 1.12 acres
- 39 offices plus reception area, lobby, conference room, and resource center
- Six 2‑fixture restrooms, full kitchen, break room, laundry room, and storage
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
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
667
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?
Office building - Brick construction and a 2010 build date define this freestanding office property.
Where is this office building located?
The property is located at 900 Dennis Road 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: 12,026 SF freestanding brick office building on 1.12 acres; 39 offices plus reception area, lobby, conference room, and resource center; Six 2‑fixture restrooms, full kitchen, break room, laundry room, and storage
