Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2978 Gillespie St Fayetteville, NC 28306-3324

    • Retail space
    • 3,500 SF
    • 0.28 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-5727160
    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

    • ATCD Lighting / Building Supply / Hardware & Home Improvement
    • KftRocks LLC / Auto Parts Store
    • 360 LED LLC / Big Box & Wholesale Store

    Property Details for 2978 Gillespie St

    Year built
    1973
    Lot size
    0.28 lot acres
    Property size
    3,500 SF
    Zone code
    CP
    Property type
    Retail space
    APN
    0425-94-5155
    APU
    425945155

    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
    -78.9014
    Latitude
    34.9978
    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
    $1,216
    $22,896
    $98,833
    $121,729
    -
    $22,896
    $98,833
    $121,729

    Comparable in this City

    • Value Estimation
      $1,455,000
      8,736 SF

      2898 Owen Dr

      RETAIL STORES (PERSONAL SERVICES) • 8,736 SF
      2898 Owen Dr, Fayetteville, NC 28306-2937
      View Details
    • Value Estimation by Request
      2,647 SF

      4230 Cumberland Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,647 SF
      4230 Cumberland Rd, Fayetteville, NC 28306-2697
      View Details
    • Value Estimation by Request
      960 SF

      6630 Waldos Bch Rd

      RETAIL STORES (PERSONAL SERVICES) • 960 SF
      6630 Waldos Bch Rd, Fayetteville, NC 28306-7286
      View Details
    • Value Estimation by Request
      1,920 SF

      602 Gillespie St

      RETAIL STORES (PERSONAL SERVICES) • 1,920 SF
      602 Gillespie St, Fayetteville, NC 28306-1544
      View Details
    • Value Estimation
      $2,280,000
      13,680 SF

      2960 Hope Mls Rd

      RETAIL STORES (PERSONAL SERVICES) • 13,680 SF
      2960 Hope Mls Rd, Fayetteville, NC 28306-8348
      View Details
    • Value Estimation by Request
      2,520 SF

      2133 Owen Dr

      RETAIL STORES (PERSONAL SERVICES) • 2,520 SF
      2133 Owen Dr, Fayetteville, NC 28306-2123
      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
      832 SF

      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
      View Details
    • $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
    • 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
    • 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
    • Contact for pricing
      1,125 SF

      Gillespie Street Retail Opportunity

      High-Visibility Commercial Space Available
      2528 Gillespie St, Fayetteville, NC 28306
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2978 Gillespie St
    Fayetteville, NC 28306-3324
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.