Handicap-Accessible Office
For Sale
$215,000
211 Owen Drive, Fayetteville, NC 28304
SINGLE_FAMILY - Fayetteville, NC
Property Size1,075 SF
Lot Size0.26 Acres
Price / SF$200
Days on Market47
Property Features for 211 Owen Drive
General Information
Property type
Residential
Property subtype
Office
Zoning description
OI - Office And Institutional
Parking features
Off Street, Parking Lot
Subdivision
OWEN VILL
Lot features
Quarter To Half Acre Lot, Cleared
Standard status
Active
APN
0417-90-7196.000
Size
1,075 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Description
OWEN VILLAGE LO:32 SE:01 PL:0015-0035
Legal Description
OWEN VILLAGE LO:32 SE:01 PL:0015-0035
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1954
Building materials
WoodFrame
Roof type
Asphalt
Listing Agency:
KENNEDY REALTORS INC.
(910) 977-2263
Listed By:
JANE KENNEDY · License #158308
(910) 977-2263
Added: Jun 26
Changed: Jun 27
Last Checked: Aug 11 at 6:06PM
MLS# 764989
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 1,075-square-foot commercial building configured for professional use, with a reception area, three separate offices, a half bath, and a break room. The building is described as handicap accessible and includes on-site HVAC that was replaced in 8/23. Recent updates include new interior paint, a remodeled bathroom, and updated light fixtures. The property will convey in “as is” condition.
The building is located at 211 Owen Drive in Fayetteville, NC 28304, in close proximity to the hospital. Parking is available in front and at the rear of the building, supporting convenient access for clients and visitors.
For tenants, buyers, or owner-users, the interior layout offers dedicated space for reception and multiple offices, which can support medical office operations or other retail uses that require private rooms. With the property currently vacant and ready for new ownership, it may also appeal to parties looking to move into a turn-key interior after the listed improvements, while planning around the “as is” conveyance terms.
The building is located at 211 Owen Drive in Fayetteville, NC 28304, in close proximity to the hospital. Parking is available in front and at the rear of the building, supporting convenient access for clients and visitors.
For tenants, buyers, or owner-users, the interior layout offers dedicated space for reception and multiple offices, which can support medical office operations or other retail uses that require private rooms. With the property currently vacant and ready for new ownership, it may also appeal to parties looking to move into a turn-key interior after the listed improvements, while planning around the “as is” conveyance terms.
Key Highlights
- Commercial building built in 1954 with wood frame construction
- Reception area plus 3 separate offices, half bath, and break room
- Handicap accessible building with parking available in front and rear
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
$13,142
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
6.11%
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%
$262,840
$262.8K
Cap Rate 7%
$187,743
$187.7K
Cap Rate 9%
$146,022
$146.0K
Market Conditions
NOI Build-Up for 1,075 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
$21.9K $20.40/SF
− Vacancy
−$4.4K −$4.10/SF
EGI
$17.5K $16.30/SF
− OpEx
−$4.4K −$4.07/SF
NOI
$13.1K $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%
$262,840
Cap Rate 7%
$187,743
Cap Rate 9%
$146,022
Alternative Uses
Best Use
Office B
$187.7K
$164.3K – $219.0K
NOI $13,142 @ 7.0% cap · market cap 6.11%
Second Best
Healthcare Medical
$159.2K
$139.3K – $185.8K
NOI $11,146 @ 7.0% cap · market cap 5.18%
Theoretical Best
Office A
$235.6K
$206.1K – $274.9K
NOI $16,491 @ 7.0% cap · market cap 7.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,184
Businesses Nearby
Explore this area
Business Placement
Demographics for 28304, NC
37,120
Population
16,424
Households
2.3
Avg Household Size
37
Median Age
25%
College-Educated
92%
High-School Grad
17.4 sq mi
ZIP Area
2,133
Density / Sq Mi
$57,867
Median Household Income
$35,907
Median Earnings
$1,218
Median Rent
$154,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Vacant building with reception, offices, break room, and front/rear parking suited for retail or medical use.
Where is this office building located?
The property is located at 211 Owen Drive Fayetteville, NC.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Commercial building built in 1954 with wood frame construction; Reception area plus 3 separate offices, half bath, and break room; Handicap accessible building with parking available in front and rear
