101 Gillespie St Fayetteville, NC 28301-5643

Property Details for 101 Gillespie St

Year built

1916

Lot size

0.06 lot acres

Property size

2,145 SF

Zone code

DT

Property type

Retail space

APN

0437-63-4962

APU

437634962

Description

This exceptional five-story, 10,725 square foot executive office building, located at 101 Gillespie Street in Fayetteville, North Carolina, presents a compelling investment opportunity. Built in 1970, this Class C property offers significant potential for redevelopment and repurposing. Its prime downtown location at Market Square provides easy access to amenities and high visibility. The building's unique mixed-use potential allows for creative adaptation, including restaurant space on the ground floor, office space on upper floors, and even short- or long-term residential rentals. While requiring a complete upfit, the property's historic significance, as Fayetteville's first skyscraper and a listing on the National Register of Historic Places, opens doors to potential tax incentives such as Historic Tax Credits, Opportunity Zone Incentives, and New Market Credits. The presence of a nearby downtown parking lot further enhances its appeal. This is a chance to acquire a piece of Fayetteville's history and capitalize on its revitalization potential. The asking price is $2,650,000. The property's versatility and location make it an attractive investment for those seeking a unique and potentially high-return project. The building's substantial square footage and multiple floors provide ample space for a variety of uses.