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    Property profile & analytics

    1864 Bingham Dr Fayetteville, NC 28304

    • Commercial real estate
    • 13.63 lot acres
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-0654125
    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

    • Commercial real estate

    Property Details for 1864 Bingham Dr

    Lot size
    13.63 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 13.63-acre commercial land parcel presents a remarkable investment opportunity in Fayetteville, North Carolina. Located at 1864 Bingham Dr, this property boasts an enviable position at the corner of Lakeridge Drive, benefiting from a newly installed stoplight system ensuring high visibility and accessibility. The lot offers extensive road frontage exceeding 800 feet and a depth of over 700 feet, providing ample space for development. The property is zoned R-10, and utilities including water, sewer, and natural gas are conveniently located at the property line. The seller is willing to subdivide the land to accommodate various development plans. This site is ideally suited for a range of commercial uses, including grocery stores, fast-food restaurants, and convenience stores. The area demonstrates strong demographics, with a population of over 10,000 within one mile, 65,700 within three miles, and 154,375 within five miles. The average household income within a three-mile radius is $60,000, indicating a robust consumer base. This prime location, combined with its size and accessibility, makes this property an exceptional opportunity for commercial development in a thriving market. The address is 1864 Bingham Dr, Fayetteville, NC 28304, in Cumberland County.

    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
    -78.9842882
    Latitude
    35.0124367

    Comparable in this City

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      Nearly 11 acres of commercial and residential parcels available.
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      Prime Commercial Land Parcel

      1.19-acre parcel with high visibility in growing commercial area.
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    • $49,000
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      Fayetteville Commercial Land - $49K

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      Raeford Rd Commercial Land Investment

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    Similar Nearby for Sale

    • $49,000
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      Fayetteville Commercial Land - $49K

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      View Details
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      Raeford Rd Commercial Land Investment

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    • $59,500
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      Land with Barn and Stables

      One-acre lot with barn, stables, and cleared home site.
      385 Buhmann Dr, Fayetteville, NC 28304
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    • $1,750,000
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      Land For Sale or Lease

      Approximately 7.61 acres available for sale, ground lease, or build-to-suit.
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    • $495,000
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      Prime Fayetteville Commercial Land

      1.3-Acre Commercial Lot, $495,000
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      Commercial Land in Fayetteville, NC

      6.77 acres of commercial land with development potential.
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    Similar Nearby for Lease

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      7 SF

      Commercial Land Available For Rent

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      Fayetteville Commercial Land Opportunity

      Prime Medical Office Land, 6000+ sqft potential.
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      Hope Mills Road Commercial Land

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      Retail spaces available in a recently constructed Fayetteville shopping center.
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      Fayetteville Office with Lay Down Yard

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      Fayetteville Retail Space For Rent

      Vacant retail space near Cape Fear Valley Hospital.
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    Fayetteville, NC 28304
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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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