Freestanding Office
New
For Sale
$2,950,000
900 Dennis Road, Jacksonville, NC 28546
A 2010-built workplace with 39 offices and a tenant in place along Jacksonville’s Western Boulevard corridor.
Property Size12,026 SF
Price / SF$245.30
Days on Market2
Property Features for 900 Dennis Road
General Information
Standard status
Active
Size
12,026 SF
Property subtype
Commercial
Zoning
CC
Taxes and HOA fees
Annual Taxes
$23,801
Amenities
reception area
lobby
39 offices
exam room
full kitchen
resource center
conference room
copy rooms
laundry room
break room
six 2-fixture restrooms
storage
Building Details
Building Size
12,026 SF
Year Built
2010
Buildings
1
Tenancy
Single
Listing Agency:
(888) 584-9431
Listed By:
Tina Powers
(910) 448-2466
Source:
Hamiltonrealtygroupnc
Added: Oct 1
Last Checked: Oct 1 at 8:12AM
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 Tina Powers
Investment Insights
Based on property information with market context.
This 12,026-square-foot office building was constructed in 2010 and is arranged with a reception area and lobby, 39 offices, an exam room, and a conference room. Additional spaces include a full kitchen, resource center, copy rooms, laundry room, break room, storage, and six restrooms, each with two fixtures. The building is freestanding and currently has a long-term tenant in place.
The property is in Jacksonville, North Carolina, near the Western Boulevard corridor. Its zoning designation is CC.
The property is in Jacksonville, North Carolina, near the Western Boulevard corridor. Its zoning designation is CC.
Key Highlights
- 12,026‑square‑foot freestanding office building
- Built in 2010; zoned CC
- 39 offices, exam room, and conference room
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
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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
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - A 2010-built workplace with 39 offices and a tenant in place along Jacksonville’s Western Boulevard corridor.
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‑square‑foot freestanding office building; Built in 2010; zoned CC; 39 offices, exam room, and conference room
