Sunoco NNN
For Sale
Contact for pricing
6022 RAEFORD RD, Fayetteville, NC 28304
Sunoco-operated property with no ongoing landlord duties and scheduled rent increases every 2 years.
Property Size2,204 SF
Price / SF$499.09
Days on Market130
Property Features for 6022 RAEFORD RD
General Information
Standard status
Active
Size
2,204 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Net Operating Income
$72,720
Additional Details
Cap Rate
6.5%
Building Details
Year Built
1984
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Legacy Real Estate Advisors Southfield
(949) 942-6585
Listed By:
Hanna Perry · License #6501463090
Source:
Crexi
Added: Apr 24
Changed: Aug 30
Last Checked: Jul 3 at 2:05PM
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 Legacy Real Estate Advisors Southfield
Investment Insights
Based on property information with market context.
This NNN property is occupied by Sunoco and is structured without landlord operating responsibilities. The lease includes rent increases scheduled at 2-year intervals and has 8+ years left on the current term.
The property is located at 6022 Raeford Rd in Fayetteville, NC 28304. The investment is reported at a 6.5% cap rate.
The property is located at 6022 Raeford Rd in Fayetteville, NC 28304. The investment is reported at a 6.5% cap rate.
Key Highlights
- Sunoco‑operated NNN property
- No landlord operating duties
- 6.5% cap rate
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
$31,833
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
2.89%
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%
$636,660
$636.7K
Cap Rate 7%
$454,757
$454.8K
Cap Rate 9%
$353,700
$353.7K
Market Conditions
NOI Build-Up for 2,204 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
$45.0K $20.40/SF
− Vacancy
−$2.5K −$1.14/SF
EGI
$42.4K $19.26/SF
− OpEx
−$10.6K −$4.81/SF
NOI
$31.8K $14.44/SF
Area
Fayetteville, NC
Vacancy
5.60%
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%
$636,660
Cap Rate 7%
$454,757
Cap Rate 9%
$353,700
Alternative Uses
Best Use
Specialty Retail
$454.8K
$397.9K – $530.6K
NOI $31,833 @ 7.0% cap · market cap 2.89%
Second Best
Retail
$355.9K
$311.4K – $415.2K
NOI $24,910 @ 7.0% cap · market cap 2.26%
Theoretical Best
Office A
$483.0K
$422.6K – $563.5K
NOI $33,811 @ 7.0% cap · market cap 3.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
322
Businesses Nearby
56k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 72%
Shops & Services 28%
Zaxby's Chicken Fingers & Buffalo Wings
Dining
19,394 visits/mo
0.2 miles
Popeyes Louisiana Kitchen
Dining
13,411 visits/mo
0.2 miles
O'Reilly Auto Parts
Shops & Services
4,795 visits/mo
0.4 miles
Waffle House
Dining
4,679 visits/mo
0.2 miles
Family Dollar
Shops & Services
4,450 visits/mo
0.0 miles
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 Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Sunoco-operated property with no ongoing landlord duties and scheduled rent increases every 2 years.
Where is this nnn property located?
The property is located at 6022 RAEFORD RD Fayetteville, NC.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Sunoco‑operated NNN property; No landlord operating duties; 6.5% cap rate
