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    Two-Story Office Building Suite Title is generated by Realmo AI

    208 Hay St, Fayetteville, NC 28301

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    Remodeled, move-in ready office space with secure access and a high-ceiling, adaptable layout.

    Type:Office
    Property size:
    16,500 SF
    Added:
    May 30, 2026
    Days on Market:
    8
    Last Refresh:
    Jun 6 at 4:14 am

    Property Features for 208 Hay St

    General Information

    Standard status
    Active
    Size
    16,500 SF
    Property subtype
    Office

    Building Details

    Year Built
    1900

    Spaces For Lease

    at 208 Hay St Contact us

    We can help!

    Listing Contact
    Corey Croegaert
    Corey Croegaert

    Listing agent Corey Croegaert License #327556

    Listing office Grant-Murray Real Estate

    Listing date May 30, 2026

    Source Crexi

    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

    HighLights

    • Fully renovated in 2018, including roof replacement
    • Over 16,500 SF of office space with remodeled interiors
    • 20‑foot ceiling height with an open, adaptable floor plan that’s easily sub‑dividable
    • Each office or suite has secure access codes for added privacy
    • Located at 208 Hay Street in downtown Fayetteville, NC
    • Downtown setting near the Crown event center (expected capacity: 3,000) and the Courthouse

    Overview

    This two-story property offers over 16,500 square feet of remodeled interior space, fully renovated in 2018. Improvements include a roof replacement and a soaring 20-foot ceiling height, with an open, adaptable floor plan designed for flexible use. The space is also described as easily sub-dividable, supporting a range of operating models from traditional offices to co-working and creative studio concepts. Individual offices or suites feature secure access codes, providing privacy and flexibility for multi-tenant arrangements.

    The building is located at 208 Hay St in the heart of downtown Fayetteville. The area is described as a cultural and commercial hub with high visibility and steady foot traffic supported by nearby shops, restaurants, and entertainment venues. The property remarks also reference proximity to a courthouse and an events center at/near the location, expected to draw year-round visitors.

    For tenants or operators, the combination of a modern, renovated interior, a high-ceiling open plan, and suite-level secure access supports businesses that need flexible space configuration. The ability to sub-divide can also be useful for organizations planning for multiple teams or accommodating different office, co-working, creative, or boutique retail-style layouts, subject to applicable requirements.
    Location Intelligence

    Current Use by Public Records

    Century 21 Liberty Real Estate Agency Patriot Property Management ... Property Management Company KimRussellRealtor Real Estate Agency Joshua Barnett Realtor Real Estate Agency ACLC LLC Training Center

    Suggested Use

    Real Estate Agency Restaurant Dental Office Spa & Massage Center Law Firm Hair Salon Nail Salon Building Supply Accounting Firm Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fayetteville
    County
    Cumberland
    State
    North Carolina
    Longitude
    -78.8799006
    Latitude
    35.0533357

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    FAQs

    What type of property is this?
    Office units - Remodeled, move-in ready office space with secure access and a high-ceiling, adaptable layout.
    Where is this office units located?
    The property is located at 208 Hay St Fayetteville, NC.
    What are key features of this property?
    This property features: Fully renovated in 2018, including roof replacement; Over 16,500 SF of office space with remodeled interiors; 20‑foot ceiling height with an open, adaptable floor plan that’s easily sub‑dividable
    (910) 987-2579 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Corey Croegaert
    Corey Croegaert
    Real Estate License ID: 327556
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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