Retail/Office Building with
1935 Gillespie Street, Fayetteville, NC 28306
SINGLE_FAMILY - Fayetteville, NC
Type:Retail
Property size:
2,000 SFLot size:
0.27 AcresPrice / SF:
$194/SF- Added:
- Feb 28, 2026
- Days on Market:
- 94
- Last Refresh:
- Jun 2 at 6:06 pm
Property Features for 1935 Gillespie Street
General Information
- Property type
- Residential
- Property subtype
- Retail
- Parking features
- Off Street
- Standard status
- Active
- APN
- 0436-13-6134
- Size
- 2,000 SF
- Lot size
- 0.27 Acres
Taxes and HOA fees
- Tax Description
- NEW YEAR WOMBLE LO:PT 23-25 PL:0007-0049
Utilities
- Sewer type
- Public Sewer
- Heating system
- Heat Pump (Heating)
- Cooling system
- Electric
- Water source
- Public
Building Details
- Year built
- 1972
- Building materials
- WoodSiding, WoodFrame
- Roof type
- Metal
Listing agent MALINDA CRAVEN License #196331 (910) 322-6535
Listing office FRANKLIN JOHNSON COMMERCIAL REAL ESTATE 2547 RAVENHILL DRIVE SUITE 100, Fayetteville, NC (910) 864-2626
Listing date Feb 28, 2026
MLS# 757721
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
- High‑visibility location near major intersection (S. Eastern Blvd, Gillespie St., I‑95 Business).
- Benefit from two drive‑through windows and ample off‑street parking.
- New metal roof, electric heat pump, flooring, and electrical work.
- Upstairs space suitable for apartment/office with private entrance, washer/dryer hookups, half bath, and partially finished kitchen.
- Suitable for various business types: Vape Store, Mini Mart (alcohol sales allowed), office, retail sales, and service businesses.
- Former cooler space available (compressor needs replacement).
Overview
This 2000-square-foot building is situated in a highly visible location near the intersection of South Eastern Blvd, Gillespie St., and I-95 Business. The property is suitable for a variety of businesses, including a vape store, mini mart (alcohol sales allowed in this district), office, and most retail sales and service businesses. The building previously had a cooler, and while the compressor has been removed, a new one could be added. The property features two drive-through windows, ample parking, and exterior area lights. Recent upgrades include a new metal roof, new electric heat pump, new flooring, and new electrical work. The upstairs area could serve as an apartment (without a shower) or office space. It features new flooring and paint, two offices (or bedrooms), washer and dryer hookups, a half bath, and a partially finished kitchen area with a sink. The upstairs area has entrances from both the inside and a private entrance from the outside. The lot size is 0.27 acres.
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 | $40.8k | $20.40 |
| − Vacancy | −$2.3k | −$1.14 |
| EGI | $38.5k | $19.26 |
| − OpEx | −$9.6k | −$4.81 |
| NOI | $28.9k | $14.44 |
2,000 SF · lease $20.40/SF/yr · vacancy 5.60% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$412.7K
$361.1K – $481.4K
NOI $28,886 @ 7.0% cap · market cap 7.43%
Second Best
Office B
$349.3K
$305.6K – $407.5K
NOI $24,449 @ 7.0% cap · market cap 6.29%
Theoretical Best
Office A
$438.3K
$383.5K – $511.4K
NOI $30,682 @ 7.0% cap · market cap 7.89%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Hobbs and Hess
Event Planning
Location Insight
- Map
- Local Demand
- City
- Fayetteville
- County
- Cumberland
- State
- North Carolina
- Longitude
- -78.894311
- Latitude
- 35.022575
Nearby Similar for Sale
FAQs
What type of property is this?
Retail space - Versatile retail/office building with drive-thru and potential apartment upstairs.
Where is this retail space located?
The property is located at 1935 Gillespie Street Fayetteville, NC.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: High‑visibility location near major intersection (S. Eastern Blvd, Gillespie St., I‑95 Business).; Benefit from two drive‑through windows and ample off‑street parking.; New metal roof, electric heat pump, flooring, and electrical work.
