3611 Ramsey St Fayetteville, NC 28311-7647
- Commercial real estate
- 83,004 SF
- 5.63 lot acres
Current Use by Public Records
- CACI INC. / Corporate Office
- Manna Church Ramsey St. Site / Church
- L-3 Stratis / Security System Supplier
Property Details for 3611 Ramsey St
- Year built
- 1966
- Lot size
- 5.63 lot acres
- Property size
- 83,004 SF
- Zone code
- CC
- Property type
- Commercial real estate
- APN
- 0439-54-6695
- APU
- 439546695
Description
This exceptional 85,000-square-foot flex/warehouse center in Fayetteville, North Carolina, presents a compelling investment opportunity. Boasting a 7.97% cap rate and a pro-forma cap rate of 9.63%, this stabilized property offers significant potential. The single-story, 1966-built building underwent a complete renovation in 2020, including a new roof, HVAC system, storefronts, and exterior repainting. Currently 92% occupied by two credit-rated tenants, including a NYSE-listed company, with a corporate guarantee, this property features a strong tenant base with a history of on-time payments and 3% annual rent increases. The lease structure is NNN, excluding roof and structural repairs. Built with steel and masonry construction and equipped with a full fire suppression system, the property sits on a 5.6-acre lot (APN: 0439-54-6695) and includes one loading dock and one dock-high door. The building features an 18-foot, 6-inch ceiling height. The asking price is $8,900,000, translating to $106 per square foot. Tenants recently invested over $4 million in interior renovations. The property is zoned CC. This low-maintenance asset is ideal for 1031 exchange investors seeking a strong return on investment. The current NOI is $708,930, with a pro-forma NOI of $866,813.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $9,595,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $8,495,000
- 6.5%
- $8,390,000
- 7%
- $9,305,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $9,795,000
- Geo Method
- $9,835,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $8,405,000
- Retail
- $7,760,000
- Mixed-Use
- $8,820,000
- Hospitality
- $7,935,000
- Educational
- $9,390,000
- Residential Income
- $7,670,000
- Energy
- $9,340,000
- Income-Based Land
- $8,040,000
- Food Service
- $7,450,000
Location Insight
- Map
- Local Demand
- City
- Fayetteville
- County
- Cumberland
- State
- North Carolina
- Longitude
- -78.8807
- Latitude
- 35.1091
- CBSA code
- 22180
- CBSA name
- FAYETTEVILLE, NC METROPOLITAN STATISTICAL AREA
