Three-Story Office Building with
For Sale
Contact for pricing
7724 & 7734 Raeford Rd, Fayetteville, NC 28304
Three-story office property with monument and building signage, ample parking, and site plan approval for a second building.
Property Size20,193 SF
Lot Size3.39 Acres
Price / SF$173.08
Days on Market55
Property Features for 7724 & 7734 Raeford Rd
General Information
Standard status
Active
Size
20,193 SF
Total Parking Spaces
96
Lot size
3.39 Acres
Property subtype
Office
Zoning
LC- OI
Occupancy
33%
Investment Type
Owner/User
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
2016
Stories
3
Listing Agency:
Avison Young - Raleigh Durham
Listed By:
Elisabeth Legg · License #355084
Source:
Crexi
Added: Jun 19
Changed: Aug 8
Last Checked: Aug 11 at 7:22PM
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 Avison Young - Raleigh Durham
Investment Insights
Based on property information with market context.
7724 & 7734 Raeford Rd offers a three-story office building totaling 20,193 square feet on 3.39 acres. The property includes monument and building signage along Raeford Road and provides a parking ratio of 4.77 spaces per 1,000 square feet. Site plan approval is in place for a second building of the same size, 20,193 square feet, allowing for an additional development phase on the property.
The asset is located just off U.S. 401/S Raeford Rd in Fayetteville, NC, in a corridor with abundant retailers, restaurants, and services nearby, and offers convenient access to regional destinations. The property is less than four miles from Cape Fear Valley Hoke Hospital and six miles from FirstHealth Moore Regional Hospital – Hoke. Cape Fear Valley Medical Center in Fayetteville is less than nine miles away, and I-295 is located less than two miles from the property.
Currently, the property is 33% leased to a well-established medical practice, with a remaining lease term of 3+ years and three 10-year renewal options. The building and approved expansion support a range of office and healthcare-adjacent uses, including general office, healthcare clinics, and mental and behavioral health, with visibility from Raeford Road signage and parking that can accommodate varied tenant needs.
The asset is located just off U.S. 401/S Raeford Rd in Fayetteville, NC, in a corridor with abundant retailers, restaurants, and services nearby, and offers convenient access to regional destinations. The property is less than four miles from Cape Fear Valley Hoke Hospital and six miles from FirstHealth Moore Regional Hospital – Hoke. Cape Fear Valley Medical Center in Fayetteville is less than nine miles away, and I-295 is located less than two miles from the property.
Currently, the property is 33% leased to a well-established medical practice, with a remaining lease term of 3+ years and three 10-year renewal options. The building and approved expansion support a range of office and healthcare-adjacent uses, including general office, healthcare clinics, and mental and behavioral health, with visibility from Raeford Road signage and parking that can accommodate varied tenant needs.
Key Highlights
- Three‑story office building built in 2016 totaling 120,193 SF on 3.39 acres
- Site plan approved for a second 120,193 SF building
- Currently 33% leased to a medical practice with 3+ years remaining and three 10‑year renewal options
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
$246,853
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
7.06%
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%
$4,937,060
$4.9M
Cap Rate 7%
$3,526,471
$3.5M
Cap Rate 9%
$2,742,811
$2.7M
Market Conditions
NOI Build-Up for 20,193 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
$411.9K $20.40/SF
− Vacancy
−$82.8K −$4.10/SF
EGI
$329.1K $16.30/SF
− OpEx
−$82.3K −$4.07/SF
NOI
$246.9K $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%
$4,937,060
Cap Rate 7%
$3,526,471
Cap Rate 9%
$2,742,811
Alternative Uses
Best Use
Office B
$3.53M
$3.09M – $4.11M
NOI $246,853 @ 7.0% cap · market cap 7.06%
Second Best
Healthcare Medical
$2.99M
$2.62M – $3.49M
NOI $209,361 @ 7.0% cap · market cap 5.99%
Theoretical Best
Office A
$4.43M
$3.87M – $5.16M
NOI $309,777 @ 7.0% cap · market cap 8.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
354
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 - Three-story office property with monument and building signage, ample parking, and site plan approval for a second building.
Where is this office building located?
The property is located at 7724 & 7734 Raeford Rd Fayetteville, NC.
What is the asking price?
The asking price for this property is $3,495,000.
What are key features of this property?
This property features: Three‑story office building built in 2016 totaling 120,193 SF on 3.39 acres; Site plan approved for a second 120,193 SF building; Currently 33% leased to a medical practice with 3+ years remaining and three 10‑year renewal options
