Brick-Veneer
For Sale
$275,000
Pending
509 Martine Road, Fayetteville, NC 28305
MultiFamily, Fayetteville, NC
Property Size1,624 SF
Days on Market67
Property Features for 509 Martine Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
SF6 - Single Family Res 6
Exterior features
Fence
Fencing
Fenced
Subdivision
FAYETTEVILLE
Elementary school
Vanstory Hills Elementary (3-5)
Middle school
Max Abbott Middle School
High school
Terry Sanford Senior High
Standard status
Pending
APN
0427-88-6041
Taxes and HOA fees
Tax Description
HUSKE HEIGHTS LO: 23 24 SE:01 BL:A PL:0009-0037
Legal Description
HUSKE HEIGHTS LO: 23 24 SE:01 BL:A PL:0009-0037
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Water source
Public
Building Details
Year built
1948
Number of units
2
Building materials
BrickVeneer, Frame
Architectural style
Other
Listing Agency:
FRANKLIN JOHNSON COMMERCIAL REAL ESTATE
(910) 864-2626
Listed By:
ROSA APONTE · License #255151
(910) 257-6035
Added: Aug 4
Changed: Sep 23
Last Checked: Oct 9 at 9:06AM
MLS# 767143
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 duplex contains two residences, each with 2 bedrooms and 1 bathroom, totaling approximately 1,624 square feet of living space. Built in 1948, the property combines brick veneer and frame construction with heat pump heating, a fence, and public water and sewer service. The two-unit configuration supports either continued rental use or owner occupancy of one residence alongside the other unit.
The property is situated in Fayetteville’s Haymount community, near Historic Downtown Fayetteville, Mazarick Park, Festival Park, North Carolina Veterans Park, Cape Fear Regional Theatre, hospitals, Fayetteville State University, major employers, and Fort Bragg. The surrounding area includes restaurants, coffee shops, boutiques, entertainment, and nightlife. Showings require 24 hours’ notice.
The property is situated in Fayetteville’s Haymount community, near Historic Downtown Fayetteville, Mazarick Park, Festival Park, North Carolina Veterans Park, Cape Fear Regional Theatre, hospitals, Fayetteville State University, major employers, and Fort Bragg. The surrounding area includes restaurants, coffee shops, boutiques, entertainment, and nightlife. Showings require 24 hours’ notice.
Key Highlights
- Duplex with two 2‑bedroom, 1‑bathroom residences
- Approximately 1,624 square feet of total living space
- Built in 1948 with brick veneer and frame construction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,823
Cap Rate
5.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$296,460
$296.5K
Cap Rate 7%
$211,757
$211.8K
Cap Rate 9%
$164,700
$164.7K
Market Conditions
NOI Build-Up for 1,624 SF
Gross rent
$22.4K $13.80/SF
− Vacancy
−$1.2K −$0.76/SF
EGI
$21.2K $13.04/SF
− OpEx
−$6.4K −$3.91/SF
NOI
$14.8K $9.13/SF
Area
Fayetteville, NC
Vacancy
5.51%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$296,460
Cap Rate 7%
$211,757
Cap Rate 9%
$164,700
Alternative Uses
Best Use
Multifamily LT 5
$211.8K
$185.3K – $247.1K
NOI $14,823 @ 7.0% cap · market cap 5.39%
Second Best
Apartment 5plus
$194.7K
$170.4K – $227.2K
NOI $13,631 @ 7.0% cap · market cap 4.96%
Theoretical Best
Office A
$355.9K
$311.4K – $415.2K
NOI $24,913 @ 7.0% cap · market cap 9.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
877
Businesses Nearby
Explore this area
Business Placement
Demographics for 28305, NC
5,844
Population
3,497
Households
1.7
Avg Household Size
44
Median Age
50%
College-Educated
93%
High-School Grad
2.6 sq mi
ZIP Area
2,248
Density / Sq Mi
$70,612
Median Household Income
$55,247
Median Earnings
$1,029
Median Rent
$242,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately configured residences offer rental-income potential with public water and sewer service.
Where is this duplex located?
The property is located at 509 Martine Road Fayetteville, NC.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Duplex with two 2‑bedroom, 1‑bathroom residences; Approximately 1,624 square feet of total living space; Built in 1948 with brick veneer and frame construction
