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    Downtown Fayetteville Commercial Property Title is generated by Realmo AI

    123 Hay Street, Fayetteville, NC 28301

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    Claim this Listing
    For Sale
    $2,110,000

    SINGLE_FAMILY - Fayetteville, NC

    Type:Retail
    Property size:
    10,924 SF
    Price / SF:
    $193/SF
    Added:
    Feb 3, 2026
    Days on Market:
    119
    Last Refresh:
    Jun 2 at 8:06 pm

    Property Features for 123 Hay Street

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Security features
    Security
    Standard status
    Active
    APN
    0437-64-0058
    Size
    10,924 SF

    Taxes and HOA fees

    Tax Description
    KATHERINE WHEELER SUB LO:2 PL:0147-0114

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Electric (Heating), Natural Gas
    Cooling system
    Electric, Central Air
    Water source
    Public

    Building Details

    Year built
    1900
    Building materials
    Brick
    Roof type
    Synthetic

    We can help!

    Listing Contact
    FRANKLIN JOHNSON
    FRANKLIN JOHNSON

    Listing agent FRANKLIN JOHNSON License #146789

    Listing office FRANKLIN JOHNSON COMMERCIAL REAL ESTATE 2547 RAVENHILL DRIVE SUITE 100, Fayetteville, NC

    Listing date Feb 3, 2026

    MLS# 756895

    Copyright © 2026 Longleaf Pine Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime downtown Fayetteville location with high foot traffic and excellent visibility.
    • Existing infrastructure from previous brewery build‑out, including walk‑in coolers and finished bar area.
    • Open layout provides incredible flexibility for various business types (brewery, restaurant, bar, office).
    • Potential to develop an upstairs level for expanded seating or lounge area.
    • Adaptable floor plan suitable for conversion into creative office space.
    • Brick construction and historic building (Year Built: 1900).

    Overview

    Located in downtown Fayetteville, this commercial property benefits from foot traffic and visibility. Originally built for a brewery, the space includes existing infrastructure such as walk-in coolers and a finished bar area, though the brewery equipment is no longer present. The open layout provides flexibility for various uses, including a brewery, restaurant, or bar. There is potential to develop an upstairs level into an additional bar or lounge area. The adaptable floor plan also makes the 10,924 square foot property suitable for conversion into creative office space or a modern workplace environment.

    Local Financial Insights For Specialty Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $222.8k $20.40
    − Vacancy −$12.5k −$1.14
    EGI $210.4k $19.26
    − OpEx −$52.6k −$4.81
    NOI $157.8k $14.44
    10,924 SF · lease $20.40/SF/yr · vacancy 5.60% · expense 25.00%

    Alternative Uses

    Best Use
    Specialty Retail
    $2.25M
    $1.97M – $2.63M (±1% cap)
    NOI $157,778 @ 7.0% cap · market cap 7.48%
    Second Best
    Office B
    $1.91M
    $1.67M – $2.23M (±1% cap)
    NOI $133,543 @ 7.0% cap · market cap 6.33%
    Theoretical Best
    Office A
    $2.39M
    $2.09M – $2.79M (±1% cap)
    NOI $167,583 @ 7.0% cap · market cap 7.94%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    The Traveler by Southern ... Production Facility

    Suggested Use

    Real Estate Agency Restaurant Dental Office Spa & Massage Center Law Firm Hair Salon Nail Salon Building Supply Accounting Firm Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Mondrell's Social Lounge — 130 Person St, Fayetteville, NC 28301
    • Walker's Hookah Cafe — 116 Gillespie St, Fayetteville, NC 28301
    • CRU Lounge Fayetteville — 114 Gillespie St, Fayetteville, NC 28301
    • Circa 1800 — 108 Person St, Fayetteville, NC 28301
    • Bruce's Sportsbloc and Lounge — 126 Person St, Fayetteville, NC 28301

    Location Insight

    • Map
    • Local Demand
    City
    Fayetteville
    County
    Cumberland
    State
    North Carolina
    Longitude
    -78.879517
    Latitude
    35.05257

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    FAQs

    What type of property is this?
    Bar & Pub - Versatile commercial space in downtown Fayetteville with high visibility.
    Where is this bar & pub located?
    The property is located at 123 Hay Street Fayetteville, NC.
    What is the asking price?
    The asking price for this property is $2,110,000.
    What are key features of this property?
    This property features: Prime downtown Fayetteville location with high foot traffic and excellent visibility.; Existing infrastructure from previous brewery build‑out, including walk‑in coolers and finished bar area.; Open layout provides incredible flexibility for various business types (brewery, restaurant, bar, office).
    (910) 818-8400
    We can help!
    Listing Contact
    FRANKLIN JOHNSON
    FRANKLIN JOHNSON
    Real Estate License ID: 146789
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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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