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Jingoli Power | 104 Year-Old | Abs NNN 724 Bell Fork Rd 37,471 SF Office Building Jacksonville, NC 28540 $2,395,000 ($63.92/SF) 7% Cap Rate
Investment Highlights
- Corporate Guarantee by Gannett Co. Inc., The Owner of USA Today and Many Other Media Companies, Publically Traded: GCI
- JINGOLI Own, Operate, and Maintain the Energy Sector
- Two 10-Year Options with 2.3% Annual Increases
- Subtenant: JINGOLI Power offers full turnkey project execution including Engineering Procurement, Construction, General Contracting, Design and Build.
- 7+ Year Remaining Lease on Absolute NNN, 2.1% Annual Increases
- 62% (19,512 SF) Office & 38% (11,959 SF) Industrial
Executive Summary
Marcus & Millichap is pleased to offer this excellent investment opportunity for sale in Jacksonville, North Carolina.
The building was constructed in 1966, renovated in 1996, 2025, and consists of 19,512 square feet of office (62%) and 11,959 square feet of industrial space for total of 31,471 square feet and sits on large 4.21 acres of land.
The lease guarantor is a publicly traded Gannett Media Corporation who occupied since May of 2013 until it was subleased to 104 year old JINGOLI Power LLC in 2025. Gannett Media Corporation owns USA Today and operates many media entities throughout the US. JINGOLI Power offers full turnkey project execution services including Engineering Procurement and Construction services, General Contracting, and Design, Build, Own, Operate, and Maintain (DBOOM) for the energy sector. Visit their website to gain more insights into the company at www.jingolipower.com.
Jacksonville is the county seat of and the most populous community in Onslow County, North Carolina, which is coterminous with the Jacksonville, NC Metropolitan Statistical Area. As of the 2020 census, the population was 72,723, which makes Jacksonville the 14th-most populous city in North Carolina. Demographically, Jacksonville is the youngest city in the United States, with an average age of 22.8 years old, which can be attributed to the large military presence. It is the home of the United States Marine Corps' Camp Lejeune and New River Air Station. Jacksonville is located adjacent to North Carolina's Crystal Coast area.
This is an excellent opportunity to acquire an office/industrial property with very strong tenant at below replacement cost.
The building was constructed in 1966, renovated in 1996, 2025, and consists of 19,512 square feet of office (62%) and 11,959 square feet of industrial space for total of 31,471 square feet and sits on large 4.21 acres of land.
The lease guarantor is a publicly traded Gannett Media Corporation who occupied since May of 2013 until it was subleased to 104 year old JINGOLI Power LLC in 2025. Gannett Media Corporation owns USA Today and operates many media entities throughout the US. JINGOLI Power offers full turnkey project execution services including Engineering Procurement and Construction services, General Contracting, and Design, Build, Own, Operate, and Maintain (DBOOM) for the energy sector. Visit their website to gain more insights into the company at www.jingolipower.com.
Jacksonville is the county seat of and the most populous community in Onslow County, North Carolina, which is coterminous with the Jacksonville, NC Metropolitan Statistical Area. As of the 2020 census, the population was 72,723, which makes Jacksonville the 14th-most populous city in North Carolina. Demographically, Jacksonville is the youngest city in the United States, with an average age of 22.8 years old, which can be attributed to the large military presence. It is the home of the United States Marine Corps' Camp Lejeune and New River Air Station. Jacksonville is located adjacent to North Carolina's Crystal Coast area.
This is an excellent opportunity to acquire an office/industrial property with very strong tenant at below replacement cost.
Property Facts
Sale Type
Investment NNN
Property Type
Building Size
37,471 SF
Building Class
C
Year Built/Renovated
1966/2025
Price
$2,395,000
Price Per SF
$63.92
Cap Rate
7%
NOI
$167,658
Tenancy
Single
Building Height
1 Story
Typical Floor Size
37,471 SF
Building FAR
0.20
Lot Size
4.21 AC
Opportunity Zone
Yes
Zoning
CC - Corridor Commercial
Parking
60 Spaces (1.6 Spaces per 1,000 SF Leased)
Amenities
- Reception
- Storage Space
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Jingoli Power LLC
- Construction
- 31,471 SF
- $5.33
- Triple Net
- Sep 2028
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Jingoli Power LLC | Construction | 31,471 SF | $5.33 | Triple Net | Sep 2028 |
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Property Taxes
| Parcel Number | 031074 | Improvements Assessment | $1,064,390 |
| Land Assessment | $297,000 | Total Assessment | $1,361,390 |
Property Taxes
Parcel Number
031074
Land Assessment
$297,000
Improvements Assessment
$1,064,390
Total Assessment
$1,361,390
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Jingoli Power | 104 Year-Old | Abs NNN | 724 Bell Fork Rd
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