Office Building with Expansion
For Sale
Contact for pricing
5324 Raeford Road, Fayetteville, NC 28304
LC-zoned office property with existing improvements, additional land, and access to Fayetteville’s Raeford Road commercial corridor.
Property Size1,398 SF
Lot Size0.43 Acres
Price / SF$271.82
Days on Market11
Property Features for 5324 Raeford Road
General Information
Standard status
Active
Size
1,398 SF
Class
B
Lot size
0.43 Acres
Property subtype
Office, Mixed Use, Business for Sale
Zoning
LC
Site & Location
Road Frontage
60 ft
Traffic Count
49,000 vehicles/day
Road Access
Yes
Utilities to Site
Yes
Additional Details
Land Use
commercial
Amenities
waiting area
handicap-accessible ramp
handicap-accessible bathroom
private conference room
functional breakroom
Building Details
Year Built
1948
Buildings
1
Tenancy
Single
Building Size
1,398 SF
Listing Agency:
Franklin Johnson Commercial Real Estate
Listed By:
Rosa Aponte · License #255151
(910) 257-6035
Source:
Crexi
Added: Aug 26
Changed: Sep 3
Last Checked: Sep 3 at 2:46AM
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.
This office property combines an existing commercial building with additional land on a 0.43-acre site at 5324 Raeford Road in Fayetteville. The 1,398-square-foot building dates to 1948 and includes a waiting area, private conference room, breakroom, handicap-accessible ramp, and bathroom. HVAC was replaced in 2021, and the roof was replaced or improved in 2025. Public water and a private septic system serve the property.
The site has approximately 60 feet of frontage and approximately 300 feet of depth along Raeford Road, just east of Skibo Road. The surrounding commercial corridor reports approximately 49,000 vehicles per day and includes retailers, restaurants, professional services, and shopping destinations. The property is zoned LC, or Limited Commercial, with future leasing, expansion, improvement, or redevelopment subject to applicable approvals and site requirements.
The site has approximately 60 feet of frontage and approximately 300 feet of depth along Raeford Road, just east of Skibo Road. The surrounding commercial corridor reports approximately 49,000 vehicles per day and includes retailers, restaurants, professional services, and shopping destinations. The property is zoned LC, or Limited Commercial, with future leasing, expansion, improvement, or redevelopment subject to applicable approvals and site requirements.
Key Highlights
- 0.43 acres (18,731 SF) with approximately 1,398 SF of existing building space
- Approximately 60 feet of Raeford Road frontage and approximately 300 feet of depth
- LC – Limited Commercial zoning
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
$17,090
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
4.50%
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%
$341,800
$341.8K
Cap Rate 7%
$244,143
$244.1K
Cap Rate 9%
$189,889
$189.9K
Market Conditions
NOI Build-Up for 1,398 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
$28.5K $20.40/SF
− Vacancy
−$5.7K −$4.10/SF
EGI
$22.8K $16.30/SF
− OpEx
−$5.7K −$4.07/SF
NOI
$17.1K $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%
$341,800
Cap Rate 7%
$244,143
Cap Rate 9%
$189,889
Alternative Uses
Best Use
Office B
$244.1K
$213.6K – $284.8K
NOI $17,090 @ 7.0% cap · market cap 4.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$306.4K
$268.1K – $357.4K
NOI $21,446 @ 7.0% cap · market cap 5.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
49,000 VPD
Traffic count
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
466
Businesses Nearby
Explore this area
Business Placement
Demographics for 28304, NC
37,120
Population
16,424
Households
2.3
Avg Household Size
37
Median Age
25%
College-Educated
92%
High-School Grad
17.4 sq mi
ZIP Area
2,133
Density / Sq Mi
$57,867
Median Household Income
$35,907
Median Earnings
$1,218
Median Rent
$154,300
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 - LC-zoned office property with existing improvements, additional land, and access to Fayetteville’s Raeford Road commercial corridor.
Where is this office building located?
The property is located at 5324 Raeford Road Fayetteville, NC.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: 0.43 acres (18,731 SF) with approximately 1,398 SF of existing building space; Approximately 60 feet of Raeford Road frontage and approximately 300 feet of depth; LC – Limited Commercial zoning
