Retail Building with Drive-Through
1935 Gillespie Street Unit 1935 Fayetteville, NC 28306
1935 Gillespie Street Unit 1935, Fayetteville, NC, 28306
$389,000
For Sale
$389,000
Two drive-through windows, ample parking, and exterior lighting support retail and service uses in this updated building.
Property Size2,806 SF
Price / SF$138.63
Days on Market196
Property Features for 1935 Gillespie Street Unit 1935
General Information
- Standard status
- Active
- Size
- 2,806 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1972
Listing agency
FRANKLIN JOHNSON COMMERCIAL REAL ESTATE
(910) 322-6535
Listed by
MALINDA CRAVEN · License #196331
(910) 322-6535
Source
Xome
Added: Jan 7 Updated: Jul 21 at 2:36AM Checked: Jul 22 at 3:48AM
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 updated retail building includes two drive-through windows, plenty of parking, and exterior area lights. The seller notes the former cooler’s compressor has been removed, but it could be added again. Improvements reported include a new metal roof, new electric heat pump, new flooring, and new electric work.
The layout also features an upstairs level with entrances from the inside and a private exterior entrance. Upstairs could be configured as an apartment (noting no shower) or office space, and includes two offices (or bedrooms), washer and dryer hookups, a half bath, and a partially finished kitchen area with a sink.
The property is positioned near the intersection of South Eastern Blvd, Gillespie St., and I-95 Business, and is described as suitable for a range of retail and service businesses, including a mini mart where alcohol sales are allowed in this district, as well as certain office uses.
The layout also features an upstairs level with entrances from the inside and a private exterior entrance. Upstairs could be configured as an apartment (noting no shower) or office space, and includes two offices (or bedrooms), washer and dryer hookups, a half bath, and a partially finished kitchen area with a sink.
The property is positioned near the intersection of South Eastern Blvd, Gillespie St., and I-95 Business, and is described as suitable for a range of retail and service businesses, including a mini mart where alcohol sales are allowed in this district, as well as certain office uses.
Key Highlights
- Updated commercial building built in 1972 with new metal roof, new electric heat pump, new flooring, and new electric work
- Two drive‑through windows plus ample parking and exterior area lights
- CC - community commercial zoning allows office and most retail/service businesses; alcohol sales allowed in this district
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $57.2k | $20.40 |
| − Vacancy | −$11.5k | −$4.10 |
| EGI | $45.7k | $16.30 |
| − OpEx | −$11.4k | −$4.07 |
| NOI | $34.3k | $12.22 |
2,806 SF · lease $20.40/SF/yr · vacancy 20.10% · expense 25.00%
Alternative Uses
Best Use
Office B
$490.0K
$428.8K – $571.7K
NOI $34,303 @ 7.0% cap · market cap 8.82%
Second Best
Retail
$453.1K
$396.4K – $528.6K
NOI $31,714 @ 7.0% cap · market cap 8.15%
Theoretical Best
Office A
$614.9K
$538.1K – $717.4K
NOI $43,046 @ 7.0% cap · market cap 11.07%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Hobbs and Hess
Event Planning
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Two drive-through windows, ample parking, and exterior lighting support retail and service uses in this updated building.
Where is this retail space located?
The property is located at 1935 Gillespie Street Unit 1935 Fayetteville, NC.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: Updated commercial building built in 1972 with new metal roof, new electric heat pump, new flooring, and new electric work; Two drive‑through windows plus ample parking and exterior area lights; CC - community commercial zoning allows office and most retail/service businesses; alcohol sales allowed in this district
