Drive-Through Storefront
For Sale
$375,000
1935 Gillespie St, Fayetteville, NC 28306
Updated two-story commercial space with flexible upper-level rooms and customer access from three sides.
Property Size2,806 SF
Days on Market49
Property Features for 1935 Gillespie St
General Information
Standard status
Active
Size
2,806 SF
Property subtype
Retail
Site & Location
Drive-Thru
Yes
Highway Access
Yes
Road Access
Yes
Amenities
walk-in cooler
exterior lighting
half bath
washer and dryer hookups
kitchen area
Building Details
Building Size
2,806 SF
Year Built
1976
Buildings
1
Stories
2
Construction
barn-style
Listing Agency:
GRANT-MURRAY REAL ESTATE, LLC.
Listed By:
Kevin Carroll · License #363322
(910) 990-3974
Source:
Grantmurrayre
Added: Aug 28
Changed: Oct 3
Last Checked: Oct 14 at 8:13PM
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 GRANT-MURRAY REAL ESTATE, LLC.
Investment Insights
Based on property information with market context.
Built in 1976, this two-story storefront property combines retail space with a flexible upper level. The building includes two drive-through windows, on-site parking, exterior lighting, and frontage along three sides for convenient customer access. Its barn-style exterior gives the property a distinctive commercial appearance.
Recent work includes a metal roof, electric heat pump, electrical improvements, and new flooring throughout. The former walk-in cooler remains a useful feature, with the space able to accommodate a new compressor. The second floor contains two rooms, a half bath, washer and dryer hookups, a kitchen area, and separate interior and private exterior entrances, providing additional office or other flexible space.
The property is located at 1935 Gillespie St in Fayetteville, with exposure along S. Eastern Boulevard and Gillespie Street. Traffic counts are 32,000 AADT on S. Eastern Blvd. and 9,700 AADT on Gillespie Street.
Recent work includes a metal roof, electric heat pump, electrical improvements, and new flooring throughout. The former walk-in cooler remains a useful feature, with the space able to accommodate a new compressor. The second floor contains two rooms, a half bath, washer and dryer hookups, a kitchen area, and separate interior and private exterior entrances, providing additional office or other flexible space.
The property is located at 1935 Gillespie St in Fayetteville, with exposure along S. Eastern Boulevard and Gillespie Street. Traffic counts are 32,000 AADT on S. Eastern Blvd. and 9,700 AADT on Gillespie Street.
Key Highlights
- 32,000 AADT on S. Eastern Blvd.
- 9,700 AADT on Gillespie Street
- Road frontage on three sides
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,714
Cap Rate
8.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$634,280
$634.3K
Cap Rate 7%
$453,057
$453.1K
Cap Rate 9%
$352,378
$352.4K
Market Conditions
NOI Build-Up for 2,806 SF
Gross rent
$50.5K $18.00/SF
− Vacancy
−$5.2K −$1.85/SF
EGI
$45.3K $16.15/SF
− OpEx
−$13.6K −$4.84/SF
NOI
$31.7K $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 Rate 5%
$634,280
Cap Rate 7%
$453,057
Cap Rate 9%
$352,378
Alternative Uses
Best Use
Retail
$453.1K
$396.4K – $528.6K
NOI $31,714 @ 7.0% cap · market cap 8.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$614.9K
$538.1K – $717.4K
NOI $43,046 @ 7.0% cap · market cap 11.48%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
281
Businesses Nearby
74k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 77%
Shops & Services 22%
Hotels & Casinos 1%
Cook Out
Dining
20,980 visits/mo
0.4 miles
Wendy's
Dining
13,051 visits/mo
0.3 miles
Taco Bell
Dining
11,148 visits/mo
0.3 miles
Popeyes Louisiana Kitchen
Dining
7,230 visits/mo
0.3 miles
BP
Shops & Services
6,031 visits/mo
0.2 miles
Demographics for 28306, NC
44,615
Population
17,723
Households
2.5
Avg Household Size
36
Median Age
28%
College-Educated
90%
High-School Grad
69.7 sq mi
ZIP Area
640
Density / Sq Mi
$63,175
Median Household Income
$40,258
Median Earnings
$1,115
Median Rent
$218,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Storefront property - Updated two-story commercial space with flexible upper-level rooms and customer access from three sides.
Where is this storefront property located?
The property is located at 1935 Gillespie St Fayetteville, NC.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 32,000 AADT on S. Eastern Blvd.; 9,700 AADT on Gillespie Street; Road frontage on three sides
