Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Downtown Fayetteville Two-Story Commercial Space Title is generated by Realmo AI

    505 Franklin St, Fayetteville, NC 28301

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    6,610 SF space in downtown Fayetteville transit center.

    Type:Retail, Office, Restaurant
    Property size:
    6,610 SF
    Added:
    Apr 6, 2023
    Days on Market:
    1157
    Last Refresh:
    May 13 at 8:09 pm

    Property Features for 505 Franklin St

    General Information

    Standard status
    Active
    Size
    6,610 SF
    Property subtype
    Retail, Office, Restaurant

    Building Details

    Year Built
    2016

    Spaces For Lease

    at 505 Franklin St Contact us

    We can help!

    Listing Contact
    Patrick Murray, CCIM, SIOR

    Listing agent Patrick Murray, CCIM, SIOR License #NC 231098

    Listing office Grant-Murray Real Estate

    Listing date Apr 6, 2023

    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

    • Located within the fast transit center in downtown Fayetteville, offering high visibility and accessibility.
    • Shell condition allows for customized build‑out with negotiable tenant improvement allowance.
    • Suitable for restaurant, retail, or office use, catering to diverse business opportunities.
    • High daytime work population (17,476 within a 1‑mile radius) provides a strong customer base.
    • Walking distance to key downtown amenities, including Segra Stadium and the Airborne & Special Operations Museum.
    • Located at the signalized intersection of Franklin St and Robeson St, ensuring high traffic and visibility.

    Overview

    Available for lease is a 6,610 square foot, two-story commercial space situated within the transit center in downtown Fayetteville, North Carolina. The space is in shell condition, and tenant improvement allowance is negotiable. The location is suitable for a restaurant, retail, or office. The property is positioned at the signalized intersection of Franklin Street and Robeson Street, offering proximity to downtown amenities. These amenities include Segra Stadium, the Airborne & Special Operations Museum, restaurants, breweries, shops, and residential areas. Within a one-mile radius, the area has 4,416 residents with an average household income of $66,295, and a daytime work population of 17,476.
    Property Profile Location Intelligence

    Current Use by Public Records

    Greyhound: Bus Station Logistics Company Megabus Logistics Company

    Suggested Use

    Restaurant Real Estate Agency Building Supply Dental Office Spa & Massage Center Law Firm Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Fayetteville
    County
    Cumberland
    State
    North Carolina
    Longitude
    -78.886535
    Latitude
    35.053745

    Nearby Similar for Lease

    • $1,600/Mo
      1,092 SF

      Renovated Office Building For Lease

      Move-in ready office space with dedicated parking in Fayetteville, NC.
      809 Katie Street, Fayetteville, NC 28306
      View Details
    • $2,500/Mo
      3,338 SF

      Fayetteville Commercial Space For Lease

      Versatile commercial spaces available on Clinton Road, Fayetteville, NC.
      1516 & 1518 Clinton Road, Fayetteville, NC 28312
      View Details
    • $2,400/Mo
      1,518 SF

      Remodeled Commercial Space with Live-Work

      Remodeled commercial space with optional upstairs apartment in Fayetteville, NC.
      123 Anderson Street, Fayetteville, NC 28301
      View Details
    • $5,434/Mo

      Class A Office Suite

      Refined office suite in Fayetteville's established business district.
      639 Executive Place, Fayetteville, NC 28305
      View Details
    • $650/Mo

      Downtown Fayetteville Office Space

      Single-room office in historic downtown Fayetteville building for rent.
      219 Dick Street, Fayetteville, NC 28301
      View Details
    • $4,529/Mo

      Retail Space in Growing Fayetteville

      Recently constructed retail space available in a high-traffic Fayetteville location.
      9566 Cliffdale Road, Fayetteville, NC 28304
      View Details
    • $1,845/Mo
      1,230 SF

      Fayetteville Office Space For Rent

      Office space for rent, close to Cape Fear Valley Hospital.
      1653 Owen Drive, Fayetteville, NC 28304
      View Details
    • $3,350/Mo
      3,600 SF

      Fayetteville Flex Space For Rent

      Flex space with offices, warehouse, fenced yard, and ample parking.
      2978 Gillespie Street, Fayetteville, NC 28306
      View Details
    • $2,600/Mo

      First-Floor Office Suite with Reception

      First-floor office suite with reception, five offices, shared restrooms, and parking, with CAMS including utilities and maintenance.
      214 Fairway Drive, Fayetteville, NC 28305
      View Details
    • $1,400/Mo

      Fayetteville Commercial Space For Rent

      Versatile commercial space in active Fayetteville corridor, suitable for retail/office.
      2834 Owen Drive, Fayetteville, NC 28306
      View Details
    • $1,500/Mo

      Fayetteville Commercial Building For Rent

      High-profile commercial building near Cape Fear Valley Hospital.
      3530 Boone Trail, Fayetteville, NC 28306
      View Details
    • $7,500/Mo
      10,000 SF

      Fayetteville Office, Showroom, Warehouse Space

      10,000 SF office, showroom, and warehouse space for lease.
      404 Chicago Drive, Fayetteville, NC 28306
      View Details

    FAQs

    What type of property is this?
    Retail space - 6,610 SF space in downtown Fayetteville transit center.
    Where is this retail space located?
    The property is located at 505 Franklin St Fayetteville, NC.
    What are key features of this property?
    This property features: Located within the fast transit center in downtown Fayetteville, offering **high visibility and accessibility**.; Shell condition allows for customized build‑out with negotiable tenant improvement allowance.; Suitable for restaurant, retail, or office use, catering to diverse business opportunities.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Patrick Murray, CCIM, SIOR
    Real Estate License ID: NC 231098
    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
    505 Franklin St, Fayetteville, NC 28301
    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!