Accessible Office
For Sale
$199,500
211 Owen Drive, Fayetteville, NC 28304
CommercialSale, Fayetteville, NC
Property Size1,075 SF
Lot Size0.26 Acres
Price / SF$185.58
Days on Market98
Property Features for 211 Owen Drive
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
OI - Office And Institutional
Parking features
Parking Lot, Off Street
Subdivision
OWEN VILL
Lot features
Quarter To Half Acre Lot, Cleared
Standard status
Active
APN
0417-90-7196.000
Size
1,075 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Description
OWEN VILLAGE LO:32 SE:01 PL:0015-0035
Legal Description
OWEN VILLAGE LO:32 SE:01 PL:0015-0035
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1954
Building materials
WoodFrame
Roof type
Asphalt
Listing Agency:
KENNEDY REALTORS INC.
(910) 977-2263
Listed By:
JANE KENNEDY · License #158308
(910) 483-7500
Added: Jun 26
Changed: Sep 12
Last Checked: Oct 1 at 10:06AM
MLS# 764989
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.
This 1,075-square-foot office building occupies a 0.26-acre parcel and is configured with a reception area, three separate offices, a half bathroom, and a break room. The building is handicap accessible and currently vacant. Recent work includes interior painting, a remodeled bathroom, updated light fixtures, and HVAC replacement in 8/23. Construction is wood frame, with a 1954 build date, asphalt roofing, natural gas heat, and central air conditioning.
Located on Owen Drive in Fayetteville, the property provides off-street parking in front and behind the building. Public water and public sewer serve the site. The existing layout supports office use and is also identified for potential retail or medical office use.
Located on Owen Drive in Fayetteville, the property provides off-street parking in front and behind the building. Public water and public sewer serve the site. The existing layout supports office use and is also identified for potential retail or medical office use.
Key Highlights
- 1,075‑square‑foot office building on 0.26 acres
- Reception area, 3 separate offices, half bathroom, and break room
- Handicap accessible with off‑street parking in front and rear
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$13,142
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.59%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$262,840
$262.8K
Cap Rate 7%
$187,743
$187.7K
Cap Rate 9%
$146,022
$146.0K
Market Conditions
NOI Build-Up for 1,075 SF
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.
Gross rent
$21.9K $20.40/SF
− Vacancy
−$4.4K −$4.10/SF
EGI
$17.5K $16.30/SF
− OpEx
−$4.4K −$4.07/SF
NOI
$13.1K $12.22/SF
Area
Fayetteville, NC
Vacancy
20.10%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$262,840
Cap Rate 7%
$187,743
Cap Rate 9%
$146,022
Alternative Uses
Best Use
Office B
$187.7K
$164.3K – $219.0K
NOI $13,142 @ 7.0% cap · market cap 6.59%
Second Best
Healthcare Medical
$159.2K
$139.3K – $185.8K
NOI $11,146 @ 7.0% cap · market cap 5.59%
Theoretical Best
Office A
$235.6K
$206.1K – $274.9K
NOI $16,491 @ 7.0% cap · market cap 8.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,184
Businesses Nearby
Explore this area
Business Placement
Demographics for 28304, NC
37,120
Population
16,424
Households
2.3
Avg Household Size
37
Median Age
25%
College-Educated
92%
High-School Grad
17.4 sq mi
ZIP Area
2,133
Density / Sq Mi
$57,867
Median Household Income
$35,907
Median Earnings
$1,218
Median Rent
$154,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Vacant commercial property with three offices, reception, break room, and parking at the front and rear.
Where is this office building located?
The property is located at 211 Owen Drive Fayetteville, NC.
What is the asking price?
The asking price for this property is $199,500.
What are key features of this property?
This property features: 1,075‑square‑foot office building on 0.26 acres; Reception area, 3 separate offices, half bathroom, and break room; Handicap accessible with off‑street parking in front and rear
