Two-Story Office
For Sale
$825,000
2577 Ravenhill Drive, Fayetteville, NC 28303
CommercialSale, Fayetteville, NC
Property Size4,136 SF
Lot Size0.28 Acres
Price / SF$199.47
Days on Market47
Property Features for 2577 Ravenhill Drive
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
LC - Limited Commercial
Parking
16
Parking features
Parking Lot
Subdivision
FAYETTEVILLE
Lot features
Quarter To Half Acre Lot, Level
Standard status
Active
APN
0427-22-0743
Size
4,136 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Description
RIDGE PLACE OFFICES LO:2 SE:00 PL:0091-0009
Legal Description
RIDGE PLACE OFFICES LO:2 SE:00 PL:0091-0009
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1995
Building materials
BrickVeneer, Frame
Roof type
Asphalt
Listing Agency:
FRANKLIN JOHNSON COMMERCIAL REAL ESTATE
(910) 864-2626
Listed By:
FRANKLIN JOHNSON · License #146789
(910) 818-8400
Added: Jul 22
Changed: Aug 19
Last Checked: Sep 6 at 1:06AM
MLS# 764886
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 two-level office property was constructed in 1995 and contains approximately 4,136 sq-ft of usable space. The interior includes 15 private offices, 2 shared offices, a reception and waiting area, kitchen, 3 bathrooms, copy room, and 2 storage closets. Brick-veneer construction, an asphalt roof, public water, and public sewer support the building’s existing configuration.
The property sits at 2577 Ravenhill Drive in Fayetteville, near Raeford Road, restaurants, retail, and Harris Teeter. Raeford Road carries approximately 29,500 VPD according to NCDOT 2024 data. Access is available to Martin Luther King Jr. Freeway, All American Freeway, and Business 95. Sixteen dedicated parking spaces are provided on the 0.28-acre site.
The property sits at 2577 Ravenhill Drive in Fayetteville, near Raeford Road, restaurants, retail, and Harris Teeter. Raeford Road carries approximately 29,500 VPD according to NCDOT 2024 data. Access is available to Martin Luther King Jr. Freeway, All American Freeway, and Business 95. Sixteen dedicated parking spaces are provided on the 0.28-acre site.
Key Highlights
- Approximately 4,136 sq‑ft of office space in a two‑story building
- 15 private offices plus 2 shared offices
- Reception and waiting area, kitchen, 3 bathrooms, 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
29,500 VPD
Traffic count
Yes
Highway access
Yes
Paved road 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 - Brick-veneer office property with private rooms, shared work areas, reception space, and on-site parking.
Where is this office building located?
The property is located at 2577 Ravenhill Drive 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 of office space in a two‑story building; 15 private offices plus 2 shared offices; Reception and waiting area, kitchen, 3 bathrooms, copy room, and 2 storage closets
