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    Property profile & analytics

    2915 Gillespie St Fayetteville, NC 28306

    • Grocery and convenience stores
    • 13,546 SF
    • 1.84 lot acres
    For Sale
    View listing
    $1,599,999
    Last Sale
    May 03, 2021
    $750,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1335888
    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

    • Grocery and convenience stores

    Property Details for 2915 Gillespie St

    Year built
    1998
    Lot size
    1.84 lot acres
    Property size
    13,546 SF
    Zone code
    CP
    Property type
    Grocery and convenience stores
    APN
    0435-04-3744
    APU
    435043744

    Description

    This exceptional 14,295 square foot storefront, situated on a 1.84-acre lot in Fayetteville, North Carolina, presents a compelling investment opportunity. Built in 1998, the property boasts a prime location at the corner of Airport Road and Business 95/Highway 301, ensuring high visibility and accessibility. The building features 54 parking spaces, two dock doors, and one grade-level door, catering to efficient operations and customer convenience. Zoned MP, this single-tenant retail space is offered at $1,599,999, translating to $111.93 per square foot. The net lease structure and owner/user investment type make this an attractive option for businesses seeking a strategic location with significant potential. The property's size and location make it ideal for a variety of retail uses. This is a rare opportunity to acquire a well-maintained, high-traffic retail space in a thriving market. The substantial lot size offers ample room for expansion or future development. Don't miss this chance to secure a prime commercial property in a highly desirable area of Fayetteville.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $600,000
      ML approach
      $470,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $965,000
      Market price range: $530k - $1.93M

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

    Location Insight

    • Map
    • Local Demand
    City
    Fayetteville
    County
    Cumberland
    State
    North Carolina
    Longitude
    -78.8987
    Latitude
    34.9995
    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
    2019
    $6,275
    $102,562
    $525,583
    $628,145
    -
    $102,562
    $525,583
    $628,145

    Comparable in this City

    • Value Estimation
      $625,000
      3,440 SF

      5014 Nc Hwy 87th S

      CONVENIENCE STORE • 3,440 SF
      5014 Nc Hwy 87th S, Fayetteville, NC 28306-8829
      View Details
    • Value Estimation by Request
      2,400 SF

      2326 Owen Dr

      CONVENIENCE STORE • 2,400 SF
      2326 Owen Dr, Fayetteville, NC 28306-2185
      View Details
    • Value Estimation by Request
      2,888 SF

      2996 Gillespie St

      CONVENIENCE STORE • 2,888 SF
      2996 Gillespie St, Fayetteville, NC 28306
      View Details
    • Value Estimation by Request
      1,215 SF

      2840 Gillespie St

      CONVENIENCE STORE • 1,215 SF
      2840 Gillespie St, Fayetteville, NC 28306
      View Details
    • Value Estimation by Request
      2,400 SF

      4940 Nc Hwy 87th S

      CONVENIENCE STORE • 2,400 SF
      4940 Nc Hwy 87th S, Fayetteville, NC 28306-8819
      View Details
    • Value Estimation by Request
      1,472 SF

      1935 Gillespie St

      CONVENIENCE STORE • 1,472 SF
      1935 Gillespie St, Fayetteville, NC 28306-1874
      View Details

    Similar Nearby for Sale

    • $1,599,999
      14,295 SF

      Fayetteville Storefront: Prime Retail Space

      High-traffic location, ample parking, great visibility.
      2915 Gillespie St, Fayetteville, NC 28306
      View Details
    • $399,000
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      Retail Business Opportunity on Cumberland

      Turnkey business opportunity including business, lot, parking, and building contents.
      3386 Cumberland Rd, Fayetteville, NC 28306
      View Details
    • $399,000

      Turnkey Business Opportunity on Cumberland

      Business opportunity with 0.29 acre lot and paved parking.
      3386 Cumberland Rd, Fayetteville, NC 28306
      View Details
    • $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

      259,960 SF Industrial Warehouse, Vacant
      800 Technology Dr, Fayetteville, NC 28306
      View Details
    • $900,000
      4.70 Acres

      Fayetteville Commercial Land - 4.7 Acres

      Prime Fayetteville commercial land, high visibility, income producing.
      6036 Camden Rd, Fayetteville, NC 28306
      View Details

    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
      View Details
    • $7,500 /Mo
      10,000 SF

      Fayetteville Office, Showroom, Warehouse Space

      10,000 SF office, showroom, and warehouse space for lease.
      404 Chicago Dr, Fayetteville, NC 28306
      View Details
    • Contact for pricing
      32,670 SF

      Fayetteville Retail Land Opportunity

      High-traffic retail land, 32,670 sqft.
      4940 Nc Highway 87, Fayetteville, NC 28306
      View Details
    • $24 SF/Yr
      41,000 SF

      Airport Plaza Retail Space

      Fayetteville, NC Shopping Center Opportunity
      2800 Gillespie St, Fayetteville, NC 28306
      View Details
    • Contact for pricing
      185,989 SF

      Airport Plaza

      Lifestyle centers • 185,989 SF
      2800 Gillespie St, Fayetteville, NC 28306
      View Details
    • Contact for pricing
      46,540 SF

      Hope Mills Plaza: Retail Opportunity

      High-visibility retail center, two spaces available.
      2584 Hope Mills Rd, Fayetteville, NC 28306
      View Details
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    Fayetteville, NC 28306
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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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