22-Store Shopping Center
For Sale
Contact for pricing
7707-7715 South Raeford Road, Fayetteville, NC 28304
Westside Village is a fully occupied 22-store shopping center with tenant-paid utilities.
Property Size53,100 SF
Lot Size7.58 Acres
Price / SF$298.49
Days on Market141
Property Features for 7707-7715 South Raeford Road
General Information
Standard status
Active
Size
53,100 SF
Lot size
7.58 Acres
Property subtype
Retail
Occupancy
100%
Building Details
Tenancy
Multi
Listing Agency:
CENTURY 21 Sherlock Homes
Listed By:
Roger Hart · License #NY
(516) 459-5379
Source:
Crexi
Added: Apr 21
Changed: Aug 8
Last Checked: Sep 7 at 2:31AM
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 CENTURY 21 Sherlock Homes
Investment Insights
Based on property information with market context.
Westside Village is a 22-store shopping center for sale with 100% occupancy. The property includes a building size of 53,100 square feet on a 7.58-acre lot. Tenants pay their own utilities.
For financial review, the property is described as having an annual rent roll of $1,091,738 and total operating expenses of $138,619, resulting in net operating income of $953,119. Contact is provided for obtaining financial information.
The offering is presented as a shopping center investment with centralized operations typical of a multi-tenant retail property, supported by the stated income and expense figures.
For financial review, the property is described as having an annual rent roll of $1,091,738 and total operating expenses of $138,619, resulting in net operating income of $953,119. Contact is provided for obtaining financial information.
The offering is presented as a shopping center investment with centralized operations typical of a multi-tenant retail property, supported by the stated income and expense figures.
Key Highlights
- Westside Village: 22‑store shopping center with 100% occupancy
- 7.58‑acre lot with 53,100 SF building size
- Annual rent roll of $1,091,738.00
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
$600,147
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
3.79%
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%
$12,002,940
$12.0M
Cap Rate 7%
$8,573,529
$8.6M
Cap Rate 9%
$6,668,300
$6.7M
Market Conditions
NOI Build-Up for 53,100 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
$955.8K $18.00/SF
− Vacancy
−$98.4K −$1.85/SF
EGI
$857.4K $16.15/SF
− OpEx
−$257.2K −$4.84/SF
NOI
$600.1K $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%
$12,002,940
Cap Rate 7%
$8,573,529
Cap Rate 9%
$6,668,300
Alternative Uses
Best Use
Retail
$8.57M
$7.50M – $10.00M
NOI $600,147 @ 7.0% cap · market cap 3.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.64M
$10.18M – $13.58M
NOI $814,596 @ 7.0% cap · market cap 5.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
337
Businesses Nearby
425k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 41%
Superstores 25%
Shops & Services 19%
Home Improvements & Furnishings 8%
Walmart
Superstores
105,681 visits/mo
0.0 miles
Chick-fil-A
Dining
39,639 visits/mo
0.3 miles
Lowe's
Home Improvements & Furnishings
33,866 visits/mo
0.3 miles
Murphy USA
Shops & Services
32,399 visits/mo
0.2 miles
McDonald's
Dining
29,606 visits/mo
0.4 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- Westside Village Shopping Center — 7707-7713 S Raeford Rd, Fayetteville, NC 28304
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Frequently Asked Questions
What type of property is this?
Shopping center - Westside Village is a fully occupied 22-store shopping center with tenant-paid utilities.
Where is this shopping center located?
The property is located at 7707-7715 South Raeford Road Fayetteville, NC.
What is the asking price?
The asking price for this property is $15,850,000.
What are key features of this property?
This property features: Westside Village: 22‑store shopping center with 100% occupancy; 7.58‑acre lot with 53,100 SF building size; Annual rent roll of $1,091,738.00
