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    Property profile & analytics

    227 Eastern Blvd Fayetteville, NC 28301

    • Auto shops
    • 1,242 SF
    • 0.33 lot acres
    For Sale
    View listing
    $299,000
    Last Sale
    Feb 17, 2022
    $95,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1866203
    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

    • 301 Discount Tobacco And Vape / Tobacco Shop

    Property Details for 227 Eastern Blvd

    Year built
    1955
    Lot size
    0.33 lot acres
    Property size
    1,242 SF
    Zone code
    CC
    Property type
    Auto shops
    APN
    0447-00-2859
    APU
    447002859

    Description

    This exceptional retail opportunity presents a 1,242-square-foot freestanding building situated on a 0.33-acre lot in East Fayetteville, North Carolina. Located at 227 S Eastern Blvd, zip code 28301, this property boasts a prime location near downtown Fayetteville. The building, constructed in 1955, is zoned CC (Commercial) and currently operates as a tobacco store, demonstrating its suitability for various retail uses. The asking price is $299,000. This presents a strong investment opportunity for entrepreneurs seeking a well-established commercial space in a high-traffic area. The ample 0.33-acre lot provides potential for expansion or future development. The property's convenient location and versatile zoning make it an ideal choice for a wide range of retail businesses seeking to establish a presence in the thriving Fayetteville market. This standalone building offers excellent visibility and accessibility, ensuring a strong foundation for success. Serious inquiries are encouraged to explore this promising commercial real estate investment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $105,000
      ML approach
      $100,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $146,000
      Market price range: $53.9k - $146k

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

    Location Insight

    • Map
    • Local Demand
    City
    Fayetteville
    County
    Cumberland
    State
    North Carolina
    Longitude
    -78.8655
    Latitude
    35.0438
    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
    $1,619
    $61,257
    $38,149
    $99,406
    -
    $61,257
    $38,149
    $99,406

    Comparable in this City

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      $265,000
      1,848 SF

      1032 Old Wilmington Rd

      AUTO REPAIR, GARAGE • 1,848 SF
      1032 Old Wilmington Rd, Fayetteville, NC 28301-6360
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    • Value Estimation
      $275,000
      1,800 SF

      327 Alexander St

      AUTO REPAIR, GARAGE • 1,800 SF
      327 Alexander St, Fayetteville, NC 28301-5752
      View Details
    • Value Estimation
      $140,000
      2,325 SF

      720 Bragg Blvd

      AUTO REPAIR, GARAGE • 2,325 SF
      720 Bragg Blvd, Fayetteville, NC 28301-4814
      View Details
    • Value Estimation
      $190,000
      2,856 SF

      516 Ramsey St

      AUTO REPAIR, GARAGE • 2,856 SF
      516 Ramsey St, Fayetteville, NC 28301-4912
      View Details
    • Value Estimation
      $270,000
      6,055 SF

      325 Cumberland St

      AUTO REPAIR, GARAGE • 6,055 SF
      325 Cumberland St, Fayetteville, NC 28301-4666
      View Details
    • Value Estimation
      $305,000
      12,000 SF

      449 Lamon St

      AUTO REPAIR, GARAGE • 12,000 SF
      449 Lamon St, Fayetteville, NC 28301
      View Details

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    Similar Nearby for Lease

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      4,712 SF

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      View Details
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      Downtown Fayetteville Storefront for Rent

      Highly visible retail/office space in the heart of Downtown Fayetteville.
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      View Details
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    227 Eastern Blvd
    Fayetteville, NC 28301
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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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