Multi-Unit Retail Strip
For Sale
$3,200,000
5389 - 5397 Ramsey Street, Fayetteville, NC 28311
Renovated corner retail strip center with four units and 100% occupancy.
Property Size11,000 SF
Price / SF$290.91
Days on Market72
Property Features for 5389 - 5397 Ramsey Street
General Information
Standard status
Active
Size
11,000 SF
Property subtype
Retail
Zoning
LC
Occupancy
100%
Additional Details
Cap Rate
8%
Traffic Count
30,000 vehicles/day
Building Details
Building Size
11,000 SF
Year Built
1973
Year Renovated
2025
Tenancy
Multi
Listing Agency:
Grant-Murray Real Estate
Listed By:
Gary Futch, CCIM · License #NC #265136
(910) 322-1496
Source:
Grantmurrayre
Added: Jun 25
Changed: Aug 22
Last Checked: Sep 4 at 5:50AM
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
Investment Insights
Based on property information with market context.
This shopping center includes two buildings with four total retail units, currently 100% occupied. The strip component has three units, with Unit 1 and Unit 2 sized at 1,700+ square feet each, and Unit 3 sized at 3,900+ square feet. In addition, there is a separate building sized at 3,700+ square feet. A corner building located at 5397 Ramsey Street was newly renovated in 2025. The property is identified as totaling 11,000 SF and is listed as zoned LC.
The center is positioned on a corner at 5389–5397 Ramsey Street in Fayetteville, in the Fayetteville/Methodist University area. Public remarks note 30,000+ AADT along this commercial corridor, supporting strong visibility and street-level exposure for the retail spaces.
The center is positioned on a corner at 5389–5397 Ramsey Street in Fayetteville, in the Fayetteville/Methodist University area. Public remarks note 30,000+ AADT along this commercial corridor, supporting strong visibility and street-level exposure for the retail spaces.
Key Highlights
- 11,000 SF corner retail strip center with 100% occupancy and 4 units across 2 buildings
- Corner location at 5397 Ramsey St (Ramsey St Corner) with newly renovated building in 2025
- Three‑unit strip includes two units at 1,700+ SF each and a third unit at 3,900+ SF
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
$124,324
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
3.89%
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%
$2,486,480
$2.5M
Cap Rate 7%
$1,776,057
$1.8M
Cap Rate 9%
$1,381,378
$1.4M
Market Conditions
NOI Build-Up for 11,000 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
$198.0K $18.00/SF
− Vacancy
−$20.4K −$1.85/SF
EGI
$177.6K $16.15/SF
− OpEx
−$53.3K −$4.84/SF
NOI
$124.3K $11.30/SF
Area
Fayetteville, NC
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,486,480
Cap Rate 7%
$1,776,057
Cap Rate 9%
$1,381,378
Alternative Uses
Best Use
Retail
$1.78M
$1.55M – $2.07M
NOI $124,324 @ 7.0% cap · market cap 3.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.41M
$2.11M – $2.81M
NOI $168,749 @ 7.0% cap · market cap 5.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
30,000 VPD
Traffic count
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
366
Businesses Nearby
138k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 46%
Shops & Services 39%
Groceries 14%
Electronics 1%
Sheetz
Shops & Services
31,040 visits/mo
0.0 miles
Aldi
Groceries
19,074 visits/mo
0.2 miles
Freddy's Frozen Custard & Steakburgers
Dining
15,335 visits/mo
0.4 miles
Chipotle Mexican Grill
Dining
13,312 visits/mo
0.5 miles
Burger King
Dining
10,676 visits/mo
0.3 miles
Demographics for 28311, NC
36,302
Population
16,275
Households
2.2
Avg Household Size
35
Median Age
34%
College-Educated
94%
High-School Grad
36.5 sq mi
ZIP Area
995
Density / Sq Mi
$60,033
Median Household Income
$38,469
Median Earnings
$1,122
Median Rent
$195,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Quick-Tag — Walmart Supercenter, 4601 Ramsey St, Fayetteville, NC 28311
Frequently Asked Questions
What type of property is this?
Shopping center - Renovated corner retail strip center with four units and 100% occupancy.
Where is this shopping center located?
The property is located at 5389 - 5397 Ramsey Street Fayetteville, NC.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: 11,000 SF corner retail strip center with 100% occupancy and 4 units across 2 buildings; Corner location at 5397 Ramsey St (Ramsey St Corner) with newly renovated building in 2025; Three‑unit strip includes two units at 1,700+ SF each and a third unit at 3,900+ SF
