Downtown Brewery Buildout with
123 Hay Street Fayetteville, NC 28301
123 Hay Street, Fayetteville, NC, 28301
$2,020,700
For Sale
$2,020,700
SINGLE_FAMILY - Fayetteville, NC
Property Size10,924 SF
Price / SF$184.98
Days on Market165
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, Natural Gas, Electric (Heating)
- Cooling system
- Electric, Central Air
- Water source
- Public
Building Details
- Year built
- 1900
- Building materials
- Brick
- Roof type
- Synthetic
Listing Agency
FRANKLIN JOHNSON COMMERCIAL REAL ESTATE
(910) 864-2626
2547 RAVENHILL DRIVE SUITE 100, Fayetteville, NC
Listed by
FRANKLIN JOHNSON · License #146789
(910) 818-8400
Added: Feb 3 Checked: Jul 18 at 1:06 am
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.
Investment Insights
Based on property information with market context.
Located at 123 Hay Street in downtown Fayetteville, this commercial property was originally built out for a brewery. The space includes existing infrastructure such as walk-in coolers and a finished bar area, and no brewery equipment remains.
The open layout is designed to support multiple hospitality configurations, including restaurant or bar use. The property also presents the possibility of developing an upstairs level into an additional bar or lounge area for expanded seating and a separate guest experience.
As a flexible alternative to hospitality, the adaptable floor plan may also be suited for conversion into creative office or a modern workplace environment, depending on desired tenant improvements and operational needs.
The open layout is designed to support multiple hospitality configurations, including restaurant or bar use. The property also presents the possibility of developing an upstairs level into an additional bar or lounge area for expanded seating and a separate guest experience.
As a flexible alternative to hospitality, the adaptable floor plan may also be suited for conversion into creative office or a modern workplace environment, depending on desired tenant improvements and operational needs.
Key Highlights
- Built in 1900 with brick construction and a synthetic roof
- Originally built out for a brewery and includes walk‑in coolers and a finished bar area
- Open‑layout interior provides flexibility for restaurant, bar, creative office, or other use types
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
NOI $157,778 @ 7.0% cap · market cap 7.81%
Second Best
Industrial
$1.59M
$1.39M – $1.85M
NOI $111,178 @ 7.0% cap · market cap 5.50%
Theoretical Best
Office A
$2.39M
$2.09M – $2.79M
NOI $167,583 @ 7.0% cap · market cap 8.29%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
The Traveler by Southern ...
Production Facility
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FAQs
What type of property is this?
Brewery - Commercial space on Hay Street with walk-in coolers and a finished bar area, originally built for brewery use.
Where is this brewery located?
The property is located at 123 Hay Street Fayetteville, NC.
What is the asking price?
The asking price for this property is $2,020,700.
What are key features of this property?
This property features: Built in 1900 with brick construction and a synthetic roof; Originally built out for a brewery and includes walk‑in coolers and a finished bar area; Open‑layout interior provides flexibility for restaurant, bar, creative office, or other use types
