Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Westlake Corporate Park Offices Title is generated by Realmo AI

    245 Westlake Road, Fayetteville, NC 28314

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $3,650,000

    Modern office buildings with long-term tenants and vacancy opportunities.

    Type:Commercial/Industrial
    Lot size:
    1.49 Acres
    Added:
    Aug 21, 2024
    Days on Market:
    639
    Last Refresh:
    May 20 at 2:44 am

    Property Features for 245 Westlake Road

    General Information

    Standard status
    Active
    Lot size
    1.49 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1997

    We can help!

    Listing Contact
    PAMELA WIGGS

    Listing agent PAMELA WIGGS License #336905

    Listing office BROWN PROPERTY GROUP

    Listing date Aug 21, 2024

    Source Exitrealty

    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 BROWN PROPERTY GROUP

    HighLights

    • Opportunity to acquire space in Westlake Corporate Park, a thriving corporate hub.
    • Multiple private offices and conference areas available.
    • Ample off‑street parking.
    • Building 235 has one vacancy.
    • Building 245 has one vacancy.
    • Building 245 has a committed long‑term tenant already in place.

    Overview

    Westlake Corporate Park features three modern office buildings offering various opportunities. The versatile spaces include multiple private offices and conference areas. Ample off-street parking is available. Building 231 is fully occupied with long-term leases. Building 235 has one vacancy. Building 245 presents one vacancy and a committed long-term tenant in the bottom office space. The properties are located at 245 Westlake Road, Fayetteville, NC 28314. The PINs are 0408-62-2715.003 for 231 Westlake and 0408-62-2715.001 for 235 Westlake.
    Location Intelligence

    Current Use by Public Records

    Heart to Heart Counseling ... Medical Clinic Global Services Corporation Engineering Consultant Global Century Services ... Telecommunications Service Aurora Rose Beauty ... Cosmetic Store Stephanie Whitehead Physician

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare 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
    -78.9793799
    Latitude
    35.076906

    Nearby Similar for Sale

    • $419,000
      5,000 SF

      Versatile Commercial Property on Bragg Boulevard

      5,000 SF commercial property on Bragg Boulevard with high visibility.
      952 Bragg Boulevard, Fayetteville, NC 28301
      View Details
    • $795,000
      8,674 SF

      High Visibility Corner Property

      Corner property with great access and road frontage.
      1813-1817 Pamalee Drive, Fayetteville, NC 28301
      View Details
    • $389,000
      2,000 SF

      Retail/Office Building with Drive-Thru

      Versatile retail/office building with drive-thru and potential apartment upstairs.
      1935 Gillespie Street, Fayetteville, NC 28306
      View Details
    • $649,000
      1,982 SF

      Freestanding Retail Building in Fayetteville

      Prime location near Fort Bragg, ideal for QSR or medical.
      5025 Santa Fe Drive, Fayetteville, NC 28303
      View Details
    • $639,000

      Fayetteville Medical Office Condo

      Medical office condo near hospital and surgery center.
      1756 Metro Medical Drive, Fayetteville, NC 28304
      View Details
    • $435,000
      3,353 SF

      Medical Office Investment Opportunity

      Leased medical office space near Cape Fear Valley Hospital.
      1790 Metro Medical Drive, Fayetteville, NC 28304
      View Details
    • $6,000
      5,751 SF

      Downtown Fayetteville Flexible Commercial Space

      Versatile 5,000+ sq ft property in downtown Fayetteville.
      201-203 Franklin Street, Fayetteville, NC 28301
      View Details
    • $140,000
      1,199 SF

      Fayetteville Commercial Suite For Rent

      Well-located commercial suite suitable for personal service or professional use.
      5114 Yadkin Road, Fayetteville, NC 28303
      View Details
    • $2,110,000
      10,924 SF

      Downtown Fayetteville Commercial Property

      Versatile commercial space in downtown Fayetteville with high visibility.
      123 Hay Street, Fayetteville, NC 28301
      View Details
    • $749,500

      Mixed-Use Property with Income Potential

      Versatile mixed-use property with multiple rental units and business opportunity.
      2305 Clinton Road, Fayetteville, NC 28312
      View Details
    • $175,000

      Fayetteville Flex Building For Sale

      1,776 SF flex building near downtown Fayetteville, recently renovated.
      1500 Gillespie Street, Fayetteville, NC 28306
      View Details
    • $299,950

      Fayetteville Retail Property For Sale

      Retail property with high traffic and commercial zoning near Ft. Bragg.
      5523 Yadkin Road, Fayetteville, NC 28303
      View Details

    FAQs

    What type of property is this?
    Office building - Modern office buildings with long-term tenants and vacancy opportunities.
    Where is this office building located?
    The property is located at 245 Westlake Road Fayetteville, NC.
    What is the asking price?
    The asking price for this property is $3,650,000.
    What are key features of this property?
    This property features: Opportunity to acquire space in Westlake Corporate Park, a thriving corporate hub.; Multiple private offices and conference areas available.; Ample off‑street parking.
    (910) 391-7051
    We can help!
    Listing Contact
    PAMELA WIGGS
    Real Estate License ID: 336905
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    245 Westlake Road, Fayetteville, NC 28314
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!