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    2116 Skibo Rd Fayetteville, NC 28314

    Sponsored
    For Lease
    Contact for pricing

    Prime Fayetteville retail space, single tenant, high visibility.

    Lot size:
    50,965 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    401
    This exceptional retail property, located at 2116 Skibo Road in Fayetteville, North Carolina, offers a significant opportunity for businesses seeking a prominent location in a thriving market. The property boasts a total building size of 50,965 square feet, with 7,070 square feet currently vacant, presenting immediate occupancy potential. Built in 2017, the building is in excellent condition and benefits from a single-tenant occupancy, simplifying management and maximizing efficiency. Situated on a 1.17-acre lot, the property offers ample space for parking and potential expansion. Its location in Cumberland County, with a 28314 zip code, provides easy access to major transportation routes and a dense customer base. The property's classification as commercial retail ensures its suitability for a wide range of businesses. The substantial square footage and prime location make this an ideal investment for businesses seeking high visibility and a strong foothold in the Fayetteville market. The vacant space presents a unique opportunity for customization and tenant improvements to perfectly suit a new occupant's needs. This property is ready for immediate occupancy and offers a compelling combination of size, location, and modern construction.

    Property Features for 2116 Skibo Rd

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    50,965 SF

    Building Details

    Year Built
    2017

    Unit(s) available at that property

    Space
    Available space
    Size
    7,070 SF

    HighLights

    • 7,070 SF former restaurant space available for lease.
    • Excellent condition building with high visibility on Skibo Road.
    • Convenient access and abundant parking with multiple entry/exit points.
    • Strong surrounding retail with nearby Academy Sports, Burlington, Home Depot, and Target.
    Property Profile Location Intelligence

    Current Use by Public Records

    Walk-On's Sports Bistreaux ... Restaurant

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fayetteville
    County
    Cumberland
    State
    North Carolina
    Longitude
    -78.974772
    Latitude
    35.051704

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    FAQs

    What type of property is this?
    Retail property - Prime Fayetteville retail space, single tenant, high visibility.
    Where is this retail property located?
    The property is located at 2116 Skibo Rd Fayetteville, NC.
    What are key features of this property?
    This property features: 7,070 SF former restaurant space available for lease.; Excellent condition building with high visibility on Skibo Road.; Convenient access and abundant parking with multiple entry/exit points.
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2116 Skibo Rd Fayetteville, NC 28314
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