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    311 Hay St Fayetteville, NC 28301

    • Retail space
    • 1,578 SF
    For Sale
    View listing
    $259,000
    Last Sale
    Mar 27, 2025
    $240,000
    Value Estimations
    Cap Rate Potential
    6.8%
    Retail space
    Location Intelligence
    Property ID
    US53-4241109
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Michael Rayburn SEO / Internet Marketing Service / Marketing Agency
    • The Cave Halotherapy & Spa Fayetteville / Spa

    Property Details for 311 Hay St

    Year built
    2007
    Property size
    1,578 SF
    Zone code
    DT1 - DOWNTOWN AREA 1
    Property type
    Retail space
    APN
    0437-54-3472-106
    APU
    437543472106

    Description

    This exceptional 259,000 USD commercial condominium is situated on a high-visibility corner in the vibrant heart of downtown Fayetteville, North Carolina. The unit boasts an abundance of glass, maximizing natural light and providing excellent street presence. Its prime location ensures significant foot and vehicular traffic, benefiting from the bustling activity of the downtown area. The property is ideal for a savvy investor seeking a strong return or an end-user looking for a prominent space to establish their business. The surrounding area is experiencing significant revitalization, with key developments such as Segra Stadium and the planned Art Center contributing to increased foot traffic and economic growth. These ongoing improvements to the downtown streetscape further enhance the property's value and potential. The unit's strategic location offers easy access to a wide range of businesses and amenities, making it an attractive proposition for a diverse range of commercial ventures. This is a rare opportunity to acquire a well-positioned commercial property in a rapidly developing downtown core. The property is a retail space, though the exact square footage is not currently available. The lot size is 0 acres.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $260,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $295,000
      6.5%
      $275,000
      7%
      $255,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $262,000
      Market price range: $82.0k - $262k
      AI Estimate
      $267,000
      Market price range: $75.2k - $268k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $190,000
      Current use
      MEDICAL BUILDING
      $265,000
      Change: +39% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $265,000
      Change: +38% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $210,000
      Change: +8% Conversion: Moderate
      OFFICE BUILDING
      $210,000
      Change: +8% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Fayetteville
    County
    Cumberland
    State
    North Carolina
    Longitude
    -78.8819
    Latitude
    35.0536
    CBSA code
    22180
    CBSA name
    FAYETTEVILLE, NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $3,353
    $62,915
    $165,204
    $228,119
    -
    $62,915
    $165,204
    $228,119

    Comparable in this City

    • Value Estimation
      $225,000
      3,476 SF

      2008 Ramsey St

      RETAIL STORES (PERSONAL SERVICES) • 3,476 SF
      2008 Ramsey St, Fayetteville, NC 28301-4164
      View Details
    • Value Estimation
      $480,000
      10,000 SF

      446 Grv St

      RETAIL STORES (PERSONAL SERVICES) • 10,000 SF
      446 Grv St, Fayetteville, NC 28301-0926
      View Details
    • Value Estimation
      $235,000
      1,578 SF

      331 Hay St

      RETAIL STORES (PERSONAL SERVICES) • 1,578 SF
      331 Hay St, Fayetteville, NC 28301-5535
      View Details
    • Value Estimation
      $225,000
      3,500 SF

      244 Robeson St

      RETAIL STORES (PERSONAL SERVICES) • 3,500 SF
      244 Robeson St, Fayetteville, NC 28301-5573
      View Details
    • Value Estimation
      $280,000
      1,600 SF

      127 Jones St

      RETAIL STORES (PERSONAL SERVICES) • 1,600 SF
      127 Jones St, Fayetteville, NC 28301-4101
      View Details
    • Value Estimation
      $80,000
      1,469 SF

      118 Hay St

      RETAIL STORES (PERSONAL SERVICES) • 1,469 SF
      118 Hay St, Fayetteville, NC 28301-5650
      View Details

    Similar Nearby for Sale

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      Historic Downtown Fayetteville Mixed-Use Building

      Two-story renovated building in the heart of historic downtown Fayetteville.
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      Fayetteville Retail Space - $299K

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      Historic Downtown Fayetteville Two-Story Building

      Two-story building in historic downtown Fayetteville, suitable for office or retail.
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      Downtown Fayetteville Flexible Commercial Space

      Versatile 5,000+ sq ft property in downtown Fayetteville.
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    Similar Nearby for Lease

    • $2,200 /Mo

      Retail/Office Space in Fayetteville, NC

      Prime retail/office space in downtown Fayetteville, NC.
      403 Gillespie St, Fayetteville, NC 28301
      View Details
    • $1,820 /Mo
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      Fayetteville Retail and Office Space

      Retail and office spaces available in Fayetteville, North Carolina.
      1047 Murchison Rd, Fayetteville, NC 28301
      View Details
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      9,420 SF

      Downtown Fayetteville Storefront for Rent

      Highly visible retail/office space in the heart of Downtown Fayetteville.
      229 Hay St, Fayetteville, NC 28301
      View Details
    • $12 SF/Yr
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      Fayetteville Executive Office Space

      Downtown Fayetteville office, 8,281 SF available.
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      Downtown Fayetteville Creative Office Space

      6,610 SF Creative Office, Prime Location
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    • $2,200 /Mo
      1,470 SF

      Fayetteville Retail/Office Leasing Opportunity

      Prime retail/office space in downtown Fayetteville, NC.
      403 Gillespie St, Fayetteville, NC 28301
      View Details
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    311 Hay St
    Fayetteville, NC 28301
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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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