Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    407 Gillespie St Fayetteville, NC 28301
    Back to Search
    Property profile & analytics

    407 Gillespie St Fayetteville, NC 28301

    View on Map
    • Specialty properties
    • 4,350 SF
    • 0.73 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Specialty properties

    Property Details for 407 Gillespie St

    Year built
    2016
    Lot size
    0.73 lot acres
    Property size
    4,350 SF
    Property type
    Specialty properties
    Property subtype
    Retail properties & Spaces

    Description

    This exceptional commercial property, located at 407 Gillespie Street in the heart of Fayetteville, North Carolina, presents a unique investment opportunity. The single-story building, constructed in 2016, boasts a total of 4,350 square feet, divided into three (3) approximately 1,450 square foot suites. Each suite is separately metered for utilities and can be leased individually or combined to accommodate a variety of business needs. The property is zoned LC - Limited Commercial, making it suitable for a range of uses, including specialty retail, professional offices, and flex space for trades. Its prime downtown location offers excellent visibility and convenient access to the courthouse. The 0.73-acre lot provides ample space, and the building's Class C designation reflects its solid construction and functionality. The base rent is $15.00 per square foot, plus tenant improvements and alterations, common area maintenance, and utilities. This translates to approximately $2,150.00 per month per suite, plus utilities. This property is an excellent choice for businesses seeking a versatile and well-located space in a thriving downtown area. The property's APN is 0437-51-8663. This is a multi-tenant building with one space currently available.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Fayetteville
    County
    Cumberland
    State
    North Carolina
    Longitude
    -78.8802
    Latitude
    35.0459

    Comparable in this City

    • Value Estimation by Request
      2,044 SF

      3017 Ramsey St

      Day care centers • 2,044 SF
      3017 Ramsey St, Fayetteville, NC 28301
      View Details
    • Value Estimation by Request
      93,000 SF

      420 Maiden Ln

      Multifamily properties • 93,000 SF
      420 Maiden Ln, Fayetteville, NC 28301
      View Details
    • Value Estimation by Request
      33,121 SF

      505 Franklin St

      Restaurants • 33,121 SF
      505 Franklin St, Fayetteville, NC 28301
      View Details
    • Value Estimation by Request

      229 Hay St

      Office properties & Spaces
      229 Hay St, Fayetteville, NC 28301
      View Details
    • Value Estimation by Request
      1,337 SF

      2807 Ramsey St

      MEDICAL CLINIC • 1,337 SF
      2807 Ramsey St, Fayetteville, NC 28301-3109
      View Details
    • Value Estimation by Request
      4,322 SF

      101 Robeson St Ste, Unit 304

      MEDICAL BUILDING • 4,322 SF
      101 Robeson St Ste, Fayetteville, NC 28301-5520
      View Details

    Similar Nearby for Sale

    • $100,000

      Fayetteville Commercial Lot For Sale

      High-visibility commercial lot suitable for retail, office, or mixed-use development.
      321 Robeson St, Fayetteville, NC 28301
      View Details
    • Contact for pricing
      14,242 SF

      Commercial Land For Sale

      Commercial land available for sale.
      108 Rowan St, Fayetteville, NC 28301
      View Details
    • $375,000
      3,697 SF

      Former Restaurant Building For Sale

      3,697 SF former restaurant with drive-thru on 1.03 acres.
      305 N Eastern Blvd, Fayetteville, NC 28301
      View Details
    • $2,310,000
      16,500 SF

      Downtown Fayetteville Office Building

      Prime Office Space, 16,500 sq ft, Move-In Ready
      208 Hay St, Fayetteville, NC 28301
      View Details
    • $795,000
      8,674 SF

      High Visibility Corner Property

      Corner property with great access and road frontage.
      1813-1817 Pamalee Dr, Fayetteville, NC 28301
      View Details
    • $925,000

      Downtown Fayetteville Two-Story Building

      Two-story building in historic downtown Fayetteville, suitable for office or retail.
      127 Hay St, Fayetteville, NC 28301
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Office/Day Care Opportunity

      2,044 SF building suitable for office or daycare use.
      3017 Ramsey St, Fayetteville, NC 28301
      View Details
    • $5,000 /Mo

      Farmville Industrial Building For Lease

      6,400 SF industrial building on 1.5 acres.
      529 Hillsboro St, Farmville, NC 28301
      View Details
    • Contact for pricing

      Shell Space in Historic Downtown

      Shell space suitable for restaurant, retail, or office use.
      130 Person St, Fayetteville, NC 28301
      View Details
    • $1,800 /Mo

      Fayetteville Commercial Flex and Office

      Versatile commercial spaces in downtown Fayetteville, NC.
      450 W Russell St, Fayetteville, NC 28301
      View Details
    • Contact for pricing

      Downtown Fayetteville Two-Story Commercial Space

      6,610 SF space in downtown Fayetteville transit center.
      505 Franklin St, Fayetteville, NC 28301
      View Details
    • Contact for pricing

      Downtown Fayetteville Open Space Available

      8,200+ SF open space in downtown Fayetteville, NC.
      150 Rowan St, Fayetteville, NC 28301
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    407 Gillespie St
    Fayetteville, NC 28301
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    407 Gillespie St, Fayetteville, NC, 28301
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!