Commercial/Medical Office Space
For Sale
$199,500
211 Owen Dr, Fayetteville, NC 28304
Commercial/medical office space with central location and recent upgrades.
Property Size1,075 SF
Price / SF$185.58
Days on Market248
Property Features for 211 Owen Dr
General Information
Standard status
Active
Size
1,075 SF
Building Details
Year Built
1954
Listing Agency:
KENNEDY REALTORS INC.
Listed By:
JANE KENNEDY · License #158308
(910) 977-2263
Source:
Tcrnc
Added: Jan 26
Changed: Sep 11
Last Checked: Sep 30 at 3:10PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of KENNEDY REALTORS INC.
Investment Insights
Based on property information with market context.
This one-story commercial or medical office space is centrally located across from Fit for Life and 316 Oyster Bar on Owen Drive. The building features three separate offices, a large reception area, a break room, and a half bathroom. The property includes a large parking area in the rear and a handicapped ramp. Recent upgrades include new interior paint and a new HVAC system. The lease must be signed within two weeks of approval, with a hold deposit paid upon approval.
Key Highlights
- Central location ideal for commercial/medical office use.
- Recent upgrades: new interior paint and new HVAC system.
- Three separate offices, reception area, break room, and 1/2 bathroom.
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
Well-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
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- Bostic Clifford N DVM — 3602 raeford rd, fayetteville, nc 28304
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- Josh Barkman DVM — 981 S McPherson Church Rd, Fayetteville, NC 28303
Frequently Asked Questions
What type of property is this?
Medical Office Space - Commercial/medical office space with central location and recent upgrades.
Where is this medical office space located?
The property is located at 211 Owen Dr 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: Central location ideal for commercial/medical office use.; Recent upgrades: **new interior paint and new HVAC system.**; Three separate offices, reception area, break room, and 1/2 bathroom.
