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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1224 Gillespie St Fayetteville, NC 28306-1500

    • Auto shops
    • 2,440 SF
    • 0.46 lot acres
    OFF-MARKET
    Last Sale
    Aug 24, 2022
    $99,500
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-0963947
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Smith's Lawn & Tree Company, LLC / Landscaping / General Contractor

    Property Details for 1224 Gillespie St

    Year built
    1969
    Lot size
    0.46 lot acres
    Property size
    2,440 SF
    Zone code
    CC
    Property type
    Auto shops
    APN
    0436-36-8549
    APU
    436368549

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Fayetteville
    County
    Cumberland
    State
    North Carolina
    Longitude
    -78.887
    Latitude
    35.032
    CBSA code
    22180
    CBSA name
    FAYETTEVILLE, NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,047
    $74,812
    $56,617
    $131,429
    -
    $74,812
    $56,617
    $131,429

    Comparable in this City

    • Value Estimation by Request
      2,250 SF

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      716 SF

      1026 Camden Rd

      AUTO REPAIR, GARAGE • 716 SF
      1026 Camden Rd, Fayetteville, NC 28306-1602
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      1,536 SF

      2505 Southern Ave

      AUTO REPAIR, GARAGE • 1,536 SF
      2505 Southern Ave, Fayetteville, NC 28306
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    • Value Estimation by Request
      2,812 SF

      1120 Gillespie St

      AUTO REPAIR, GARAGE • 2,812 SF
      1120 Gillespie St, Fayetteville, NC 28306-1552
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    • Value Estimation by Request
      5,526 SF

      3580 Gillespie St

      AUTO REPAIR, GARAGE • 5,526 SF
      3580 Gillespie St, Fayetteville, NC 28306-9264
      View Details
    • Value Estimation
      $1,990,000
      2,870 SF

      2577 Hope Mls Rd

      AUTO REPAIR, GARAGE • 2,870 SF
      2577 Hope Mls Rd, Fayetteville, NC 28306-8311
      View Details

    Similar Nearby for Sale

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      Fayetteville Storefront: Prime Retail Space

      High-traffic location, ample parking, great visibility.
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    • $399,000

      Turnkey Business Opportunity on Cumberland

      Business opportunity with 0.29 acre lot and paved parking.
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    • $399,000
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      Retail Business Opportunity on Cumberland

      Turnkey business opportunity including business, lot, parking, and building contents.
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    • $229,000
      1.47 Acres

      Prime Fayetteville Commercial Land

      1.47-Acre Corner Lot, Zoned CC
      0 Camden Rd, Fayetteville, NC 28306
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    • $16,900,000
      259,960 SF

      Fayetteville Warehouse - $16.9M

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      Fayetteville Commercial Land - 4.7 Acres

      Prime Fayetteville commercial land, high visibility, income producing.
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    Similar Nearby for Lease

    • $7,000 /Mo

      Versatile Retail/Warehouse Space Available

      8,564 SF retail, flex, and warehouse space on corner lot.
      2712 Owen Dr, Fayetteville, NC 28306
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      Fayetteville Commercial Property for Rent

      Commercial property available for rent in Fayetteville, North Carolina.
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      32,670 SF

      Fayetteville Retail Land Opportunity

      High-traffic retail land, 32,670 sqft.
      4940 Nc Highway 87, Fayetteville, NC 28306
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      1,125 SF

      Gillespie Street Retail Opportunity

      High-Visibility Commercial Space Available
      2528 Gillespie St, Fayetteville, NC 28306
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      46,540 SF

      Hope Mills Plaza: Retail Opportunity

      High-visibility retail center, two spaces available.
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    • Contact for pricing
      22,753 SF

      Fayetteville Retail Space - Hope Mills Rd

      Prime Retail Space, High Visibility, 22,753 SF
      2653 Hope Mills Rd, Fayetteville, NC 28306
      View Details
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    Fayetteville, NC 28306-1500
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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.

    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
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