Two-Story Office
For Sale
$825,000
2577 Ravenhill Dr, Fayetteville, NC 28303
Configured with private offices, reception space, a kitchen, storage, and dedicated parking for professional operations.
Property Size4,136 SF
Price / SF$199.47
Days on Market23
Property Features for 2577 Ravenhill Dr
General Information
Standard status
Active
Size
4,136 SF
Total Parking Spaces
16
Additional Details
Highway Access
Yes
Building Details
Year Built
1995
Buildings
1
Stories
2
Building Size
4,136 SF
Listing Agency:
FRANKLIN JOHNSON COMMERCIAL REAL ESTATE
(910) 818-8400
Listed By:
FRANKLIN JOHNSON · License #146789
(910) 818-8400
Source:
Exprealty
Added: Jul 22
Changed: Aug 13
Last Checked: Aug 13 at 4:39AM
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.
Located at 2577 Ravenhill Dr in Fayetteville, this two-story office property provides approximately 4,136 sq-ft of workspace in a building constructed in 1995. The interior includes 15 private offices, 2 shared offices, a reception and waiting area, kitchen, 3 bathrooms, copy room, and 2 storage closets. Sixteen dedicated parking spaces support on-site access for occupants and visitors.
The property sits just off Raeford Road, which carries approximately 29,500 VPD according to NCDOT 2024 figures. Restaurants, retail, and Harris Teeter are nearby, while Martin Luther King Jr. Freeway, All American Freeway, and Business 95 provide access to surrounding areas. The existing office configuration offers multiple enclosed work areas along with shared support spaces within a single professional setting.
The property sits just off Raeford Road, which carries approximately 29,500 VPD according to NCDOT 2024 figures. Restaurants, retail, and Harris Teeter are nearby, while Martin Luther King Jr. Freeway, All American Freeway, and Business 95 provide access to surrounding areas. The existing office configuration offers multiple enclosed work areas along with shared support spaces within a single professional setting.
Key Highlights
- Approximately 4,136 sq‑ft office building constructed in 1995
- Two‑story layout with 15 private offices and 2 shared offices
- Reception and waiting area, kitchen, copy room, and 2 storage closets
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
$50,561
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
6.13%
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%
$1,011,220
$1.0M
Cap Rate 7%
$722,300
$722.3K
Cap Rate 9%
$561,789
$561.8K
Market Conditions
NOI Build-Up for 4,136 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
$84.4K $20.40/SF
− Vacancy
−$17.0K −$4.10/SF
EGI
$67.4K $16.30/SF
− OpEx
−$16.9K −$4.07/SF
NOI
$50.6K $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%
$1,011,220
Cap Rate 7%
$722,300
Cap Rate 9%
$561,789
Alternative Uses
Best Use
Office B
$722.3K
$632.0K – $842.7K
NOI $50,561 @ 7.0% cap · market cap 6.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$906.4K
$793.1K – $1.06M
NOI $63,450 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,443
Businesses Nearby
Explore this area
Business Placement
Demographics for 28303, NC
30,842
Population
15,554
Households
2
Avg Household Size
36
Median Age
30%
College-Educated
94%
High-School Grad
15.4 sq mi
ZIP Area
2,003
Density / Sq Mi
$53,261
Median Household Income
$37,238
Median Earnings
$1,125
Median Rent
$174,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Configured with private offices, reception space, a kitchen, storage, and dedicated parking for professional operations.
Where is this office building located?
The property is located at 2577 Ravenhill Dr Fayetteville, NC.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Approximately 4,136 sq‑ft office building constructed in 1995; Two‑story layout with 15 private offices and 2 shared offices; Reception and waiting area, kitchen, copy room, and 2 storage closets
