Retail Building with
1935 Gillespie Street Fayetteville, NC 28306
For Sale
$389,000
SINGLE_FAMILY - Fayetteville, NC
Property Size2,000 SF
Lot Size0.27 Acres
Price / SF$194.50
Days on Market149
Property Features for 1935 Gillespie Street
General Information
Property type
Residential
Property subtype
Retail
Parking features
Off Street
Standard status
Active
APN
0436-13-6134
Size
2,000 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Description
NEW YEAR WOMBLE LO:PT 23-25 PL:0007-0049
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Electric
Water source
Public
Building Details
Year built
1972
Building materials
WoodSiding, WoodFrame
Roof type
Metal
Listing Agency:
FRANKLIN JOHNSON COMMERCIAL REAL ESTATE
(910) 864-2626
Listed By:
MALINDA CRAVEN · License #196331
(910) 322-6535
Added: Feb 28
Changed: Jun 13
Last Checked: Jul 27 at 4:06PM
MLS# 757721
Copyright © 2026 Longleaf Pine Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This property is a single retail building with a configuration that includes both ground-level retail and an upstairs area. The seller notes the building previously had a cooler, with the compressor removed, and it could potentially be added back. Updates include a new metal roof, a new electric heat pump, new flooring, and new electrical work. The building also includes exterior area lighting and two drive-through windows.
The location is described as near the intersection of South Eastern Blvd, Gillespie St., and I-95 Business, with visibility and plenty of on-site parking. The upstairs space has new flooring and paint, with two offices (or bedrooms), washer and dryer hookups, and a half bath. There is a partially finished kitchen area with a sink. Access is available from inside the building and via a private exterior entrance.
The ground floor positioning supports a variety of retail and service businesses, including the listed examples of a vape store or mini mart. The remarks also state that alcohol sales are allowed in this district. Upstairs can function as an office or apartment-style setup (noting there is no shower), giving buyers and operators flexibility for additional use or tenant arrangements while maintaining independent access options.
The location is described as near the intersection of South Eastern Blvd, Gillespie St., and I-95 Business, with visibility and plenty of on-site parking. The upstairs space has new flooring and paint, with two offices (or bedrooms), washer and dryer hookups, and a half bath. There is a partially finished kitchen area with a sink. Access is available from inside the building and via a private exterior entrance.
The ground floor positioning supports a variety of retail and service businesses, including the listed examples of a vape store or mini mart. The remarks also state that alcohol sales are allowed in this district. Upstairs can function as an office or apartment-style setup (noting there is no shower), giving buyers and operators flexibility for additional use or tenant arrangements while maintaining independent access options.
Key Highlights
- High‑visibility location near major intersection (S. Eastern Blvd, Gillespie St., I‑95 Business).
- Benefit from two drive‑through windows and ample off‑street parking.
- New metal roof, electric heat pump, flooring, and electrical work.
Financial Insights For Retail
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 | $36.0k | $18.00 |
| − Vacancy | −$3.7k | −$1.85 |
| EGI | $32.3k | $16.15 |
| − OpEx | −$9.7k | −$4.84 |
| NOI | $22.6k | $11.30 |
2,000 SF · lease $18.00/SF/yr · vacancy 10.30% · expense 30.00%
Alternative Uses
Best Use
Retail
$322.9K
$282.6K – $376.7K
NOI $22,604 @ 7.0% cap · market cap 5.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$438.3K
$383.5K – $511.4K
NOI $30,682 @ 7.0% cap · market cap 7.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Retail space - Drive-through windows, ample parking, and recently updated systems make this property well-suited for retail and service use.
Where is this retail space located?
The property is located at 1935 Gillespie Street 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: High‑visibility location near major intersection (S. Eastern Blvd, Gillespie St., I‑95 Business).; Benefit from two drive‑through windows and ample off‑street parking.; New metal roof, electric heat pump, flooring, and electrical work.
