Historic Mixed-Use
For Sale
$1,650,000
159 Maxwell St, Fayetteville, NC 28301
Renovated downtown property combines office space with two apartments and 11 parking spaces.
Property Size10,400 SF
Lot Size0.29 Acres
Price / SF$158.65
Days on Market22
Property Features for 159 Maxwell St
General Information
Standard status
Active
Size
10,400 SF
Total Parking Spaces
11
Lot size
0.29 Acres
Zoning
DT
Additional Details
Multifamily Units
2
Building Details
Year Built
1900
Year Renovated
2014
Buildings
1
Building Size
10,400 SF
Listing Agency:
FRANKLIN JOHNSON COMMERCIAL REAL ESTATE
(910) 818-8400
Listed By:
FRANKLIN JOHNSON · License #146789
Source:
Tcrnc
Added: Aug 8
Changed: Aug 28
Last Checked: Aug 25 at 5:33AM
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 FRANKLIN JOHNSON COMMERCIAL REAL ESTATE
Investment Insights
Based on property information with market context.
This 10,400 SF mixed-use building in downtown Fayetteville contains 7,190 SF of office space, with 5,000 SF on the lower level and 2,190 SF upstairs, along with two apartments. One apartment is rented and the other is vacant. The property was built in 1900 and renovated in 2014, retaining original floors, exterior walls, beams, and ceilings. It is listed on the Historic Registry and carries DT (downtown district) zoning.
Located at the intersection of Maxwell and W. Russel Street on .29 acres, the property includes 11 parking spaces. Restaurants, shopping, breweries, City Hall, Segra Stadium, and Highsmith Rainey Hospital are within walking distance. Fayetteville Regional Airport is approximately 5 miles away. The building is occupied through the end of August.
Located at the intersection of Maxwell and W. Russel Street on .29 acres, the property includes 11 parking spaces. Restaurants, shopping, breweries, City Hall, Segra Stadium, and Highsmith Rainey Hospital are within walking distance. Fayetteville Regional Airport is approximately 5 miles away. The building is occupied through the end of August.
Key Highlights
- 10,400 SF mixed‑use building on .29 acres
- 7,190 SF of office space: 5,000 SF downstairs and 2,190 SF upstairs
- Two apartments; one is rented and one is vacant
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
$127,137
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
7.71%
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%
$2,542,740
$2.5M
Cap Rate 7%
$1,816,243
$1.8M
Cap Rate 9%
$1,412,633
$1.4M
Market Conditions
NOI Build-Up for 10,400 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
$212.2K $20.40/SF
− Vacancy
−$42.6K −$4.10/SF
EGI
$169.5K $16.30/SF
− OpEx
−$42.4K −$4.07/SF
NOI
$127.1K $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%
$2,542,740
Cap Rate 7%
$1,816,243
Cap Rate 9%
$1,412,633
Alternative Uses
Best Use
Office B
$1.82M
$1.59M – $2.12M
NOI $127,137 @ 7.0% cap · market cap 7.71%
Second Best
Mixed Use
$1.77M
$1.54M – $2.06M
NOI $123,552 @ 7.0% cap · market cap 7.49%
Theoretical Best
Office A
$2.28M
$1.99M – $2.66M
NOI $159,544 @ 7.0% cap · market cap 9.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,874
Businesses Nearby
Explore this area
Business Placement
Demographics for 28301, NC
17,670
Population
8,590
Households
2.1
Avg Household Size
35
Median Age
17%
College-Educated
88%
High-School Grad
12.4 sq mi
ZIP Area
1,425
Density / Sq Mi
$36,955
Median Household Income
$28,350
Median Earnings
$926
Median Rent
$109,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Renovated downtown property combines office space with two apartments and 11 parking spaces.
Where is this mixed-use property located?
The property is located at 159 Maxwell St Fayetteville, NC.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 10,400 SF mixed‑use building on .29 acres; 7,190 SF of office space: 5,000 SF downstairs and 2,190 SF upstairs; Two apartments; one is rented and one is vacant
