3-Bay Auto
For Sale
Contact for pricing
3305 Raeford Rd, Fayetteville, NC 28303
Office space accompanies the service bays within a former dealership facility.
Property Size3,452 SF
Price / SF$376.59
Days on Market577
Property Features for 3305 Raeford Rd
General Information
Standard status
Active
Size
3,452 SF
Class
C
Property subtype
Retail
Zoning
CC
Building Details
Year Built
1990
Buildings
1
Stories
1
Listing Agency:
Colliers - Raleigh, North Carolina
(919) 821-1078
Listed By:
David Stowe · License #NC 207642
Source:
Crexi
Added: Jan 31, 2025
Changed: Aug 30
Last Checked: Aug 30 at 7:42PM
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 Colliers - Raleigh, North Carolina
Investment Insights
Based on property information with market context.
This 3,452-square-foot automotive property in Fayetteville includes office space and three garage bays. The facility previously operated as a car dealership and auto shop, providing a configuration centered on vehicle service and related operations.
The property is located at 3305 Raeford Road and was built in 1990. CC zoning is in place for the site.
The property is located at 3305 Raeford Road and was built in 1990. CC zoning is in place for the site.
Key Highlights
- Three garage bays with accompanying office space
- 3,452 SF automotive property
- Former car dealership and auto shop
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
$39,015
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
3.00%
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%
$780,300
$780.3K
Cap Rate 7%
$557,357
$557.4K
Cap Rate 9%
$433,500
$433.5K
Market Conditions
NOI Build-Up for 3,452 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
$62.1K $18.00/SF
− Vacancy
−$6.4K −$1.85/SF
EGI
$55.7K $16.15/SF
− OpEx
−$16.7K −$4.84/SF
NOI
$39.0K $11.30/SF
Area
Fayetteville, NC
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$780,300
Cap Rate 7%
$557,357
Cap Rate 9%
$433,500
Alternative Uses
Best Use
Retail
$557.4K
$487.7K – $650.3K
NOI $39,015 @ 7.0% cap · market cap 3.00%
Second Best
Industrial
$501.9K
$439.2K – $585.6K
NOI $35,133 @ 7.0% cap · market cap 2.70%
Theoretical Best
Office A
$756.5K
$662.0K – $882.6K
NOI $52,956 @ 7.0% cap · market cap 4.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,546
Businesses Nearby
237k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 59%
Groceries 22%
Shops & Services 13%
Apparel 3%
Publix
Groceries
51,073 visits/mo
0.4 miles
7 Brew Coffee
Dining
23,539 visits/mo
0.3 miles
Chipotle Mexican Grill
Dining
18,231 visits/mo
0.3 miles
Zaxby's Chicken Fingers & Buffalo Wings
Dining
17,129 visits/mo
0.3 miles
Starbucks
Dining
17,113 visits/mo
0.3 miles
Demographics for 28303, NC
30,842
Population
15,554
Households
2
Avg Household Size
36
Median Age
30%
College-Educated
94%
High-School Grad
15.4 sq mi
ZIP Area
2,003
Density / Sq Mi
$53,261
Median Household Income
$37,238
Median Earnings
$1,125
Median Rent
$174,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Office space accompanies the service bays within a former dealership facility.
Where is this auto shop located?
The property is located at 3305 Raeford Rd Fayetteville, NC.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Three garage bays with accompanying office space; 3,452 SF automotive property; Former car dealership and auto shop
