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    483 47 Jacksonville, NC 28544
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    483 47, Jacksonville, NC 28544

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    Property Details for 483 47

    Property type
    Land
    Property subtype
    Industrial properties

    Description

    This exceptional 42,689 square foot industrial land parcel presents a remarkable development opportunity in Midway Park, North Carolina. Strategically located on Freedom Way (Highway 24), less than half a mile from Piney Green Road and the MCB Camp Lejeune Piney Green entrance, this property boasts significant advantages. The nearly one-acre lot is already cleared and offers road frontage on both Freedom Way and Tallman Circle, further enhanced by an NC DOT turn lane onto Tallman Circle. The absence of city taxes and regulations simplifies development, while existing infrastructure significantly reduces upfront costs. ONWASA water taps are already installed, and an ONWASA force main is readily available. Onsite septic systems are in place, streamlining the permitting process. This corner lot presents a unique chance to capitalize on its prime location and established utilities, making it ideal for a variety of industrial uses. The property is situated in Onslow County, NC, zip code 28544.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Jacksonville
    County
    Onslow
    State
    North Carolina
    Longitude
    -77.3129
    Latitude
    34.7151

    Comparable in this City

    • Value Estimation by Request
      1,833 SF

      2840 Piney Grn Rd

      INDUSTRIAL (GENERAL)
      2840 Piney Grn Rd, Midway Park, NC 28544-1422
      View Details
    • Value Estimation by Request
      2,786 SF

      185 Freedom Way

      INDUSTRIAL (GENERAL)
      185 Freedom Way, Midway Park, NC 28544-1427
      View Details
    • Value Estimation by Request
      3,168 SF

      165 Freedom Way

      INDUSTRIAL (GENERAL)
      165 Freedom Way, Midway Park, NC 28544-1427
      View Details
    • Value Estimation
      $525,000
      7,957 SF

      2830 Piney Grn Rd

      INDUSTRIAL (GENERAL)
      2830 Piney Grn Rd, Midway Park, NC 28544-1422
      View Details
    • Value Estimation by Request
      3,526 SF

      2868 Piney Grn Rd

      INDUSTRIAL (GENERAL)
      2868 Piney Grn Rd, Midway Park, NC 28544-1422
      View Details
    • Value Estimation by Request
      1.05 Acres

      Lk Cole Rd

      INDUSTRIAL (GENERAL)
      Lk Cole Rd, Midway Park, NC 28544
      View Details

    Similar Nearby for Sale

    • $295,000
      5.05 Acres

      Midway Park Prime Land

      5 acres of land near local amenities and military bases.
      2460 Piney Green Rd, Midway Park, NC 28544
      View Details
    • New
      $60,000
      0.34 Acres

      Residential Land in Midway Park

      Two combined parcels totaling 0.34 acres in Midway Park.
      775 149, Midway Park, NC 28544
      View Details
    • $50,000
      0.23 Acres

      Cleared Lots in Midway Park

      Two surveyed lots available together or separately in Midway Park.
      206 2Nd Ln, Midway Park, NC 28544
      View Details
    • Contact for pricing

      Piney Green Road Commercial Lot

      0.27 acre commercial lot near Piney Green Base entrance.
      2848 Piney Green Rd, Midway Park, NC 28544
      View Details
    • New
      $159,900
      9.54 Acres

      9.5 Acres Near Camp Lejeune

      9.5 acres near Jacksonville, close to Camp Lejeune.
      200 Walton Road Ext, Midway Park, NC 28544
      View Details
    • New
      $32,000
      0.80 Acres

      Corner Lot in Midway Park

      0.80-acre corner lot with road frontage in established neighborhood.
      109 Shady St, Midway Park, NC 28544
      View Details
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    483 47
    Jacksonville, NC 28544
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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