New search
Property profile & analytics
OFF-MARKET
Estimated value
$645,000
Retail space
302 Hay St, Fayetteville, NC 28301-5536
Entity Owned
17-yr Hold
~
Est. High Equity
Property ID
US53-2229105
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1920
Total area
3,800 SF
Lot
0.1 ac (4,356 SF)
Zoning code
DT
APN
0437-54-5590
UPID
US53-2229105
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$660k
Comparable Approach
Comparable
$632k
Blend (final)
Blend
$645k
Owner & transaction history
Pennink Properties LLC · 17 yrs held
Pennink Properties LLC
since 2008
4 recorded transactions
Zoning & alternative use
DT · Fayetteville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$640,000
+38.6%
Auto repair, garage
$635,000
+37.6%
Neighborhood: shopping center
$500,000
+8.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Fayetteville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fayetteville submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$715,000
6.5%
$660,000
7%
$615,000
Alternative Use
Use
Estimation
RETAIL STORES
$460,000
Current use
MEDICAL BUILDING
$640,000
Change: +39% · Conversion: Difficult
AUTO REPAIR, GARAGE
$635,000
Change: +38% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$500,000
Change: +8% · Conversion: Moderate
OFFICE BUILDING
$500,000
Change: +8% · Conversion: Easy
Blend value · Realmo final
$645k
Range $581k – $710k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$170 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2019Property tax & assessments
Tax year 2019
Tax billed
$11,916
Tax year 2019
Assessed value
$841,734
Assessed 2023
Previous assessed
$841,734
+0.0% YoY
Effective rate
1.42%
On assessed value
Assessed land
$314,862
Assessed improvement
$526,872
Land market value
$314,862
Improvement market value
$526,872
Total market value
$841,734
Applied tax rate
1,002.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1920
Heating
NONE
Stories
1
Bathrooms
7
Total area
3,800 SF
Lot
0.1 ac (4,356 SF)
Zoning code
DT
APN
0437-54-5590
UPID
US53-2229105
Jurisdiction
CUMBERLAND
Zoning & alternative use
DT · Fayetteville, NC
Zoning DT · permitted uses
DT · Fayetteville, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fayetteville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$460,000
MEDICAL BUILDING
Est. value
$640,000
AUTO REPAIR, GARAGE
Est. value
$635,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$500,000
OFFICE BUILDING
Est. value
$500,000
RETAIL STORES Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1920
Heating
NONE
Stories
1
Bathrooms
7
Lot
0.1 ac
Current owner
From public records · entity-resolved
Pennink Properties LLC
Entity
Mailing address
235 OLD ST STE #202, FAYETTEVILLE, NC 28301-5001
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 19, 2017
—
Pennink Properties LLC
—
Deed
related
$450,000 · Branch Bk&tr
Sep 15, 2008
—
Pennink Properties LLC
Pennink,menno & Suzanne B
Quit Claim Deed
related
$178,010 · Branch Banking & Trust Co
—
—
Pennink Properties LLC
—
Deed Of Trust
related
$450,000 · Branch Bk&tr
—
—
Pennink Properties LLC
—
Deed Of Trust
related
$70,000 · Branch Banking & Trust Co
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 302 Hay St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
