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    Property profile & analytics

    324 Person St Fayetteville, NC 28301-5736

    • Office buildings
    • 13,597 SF
    • 2.10 lot acres
    OFF-MARKET
    Last Sale
    Mar 17, 2020
    $1,970,000
    Value Estimations
    $1,975,000
    Show details
    Cap Rate Potential
    7.7%
    Office buildings
    Location Intelligence
    Property ID
    US53-1458409
    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

    • Carolina Outreach / Crisis Center / Medical Clinic
    • GLI Food Services / Restaurant
    • Diamond Hearts Alcohol Detox Fayetteville, NC / Health Counselor / Rehabilitation Center
    • Michael Grayson / Counselor

    Property Details for 324 Person St

    Year built
    1972
    Lot size
    2.10 lot acres
    Property size
    13,597 SF
    Zone code
    DT
    Property type
    Office buildings
    APN
    0437-73-7212
    APU
    437737212

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,305,000
      ML approach
      $2,290,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,955,000
      6.5%
      $2,730,000
      7%
      $2,535,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,695,000
      Market price range: $635k - $2.58M
      AI Estimate
      $1,633,000
      Market price range: $1.04M - $2.30M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,790,000
      Current use
      RESTAURANT
      $2,855,000
      Change: +60% Conversion: Moderate
      MEDICAL BUILDING
      $2,290,000
      Change: +28% Conversion: Easy
      AUTO REPAIR, GARAGE
      $2,275,000
      Change: +27% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $1,795,000
      Change: +0% Conversion: Difficult
      RETAIL STORES
      $1,655,000
      Change: -8% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Fayetteville
    County
    Cumberland
    State
    North Carolina
    Longitude
    -78.874
    Latitude
    35.0502
    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
    $20,288
    $166,486
    $1,139,431
    $1,305,917
    -
    $166,486
    $1,139,431
    $1,305,917

    Comparable in this City

    • Value Estimation by Request
      875 SF

      136 Bow St, Unit B

      OFFICE BUILDING • 875 SF
      136 Bow St, Fayetteville, NC 28301-2308
      View Details
    • Value Estimation by Request
      1,804 SF

      571 Gillespie St

      OFFICE BUILDING • 1,804 SF
      571 Gillespie St, Fayetteville, NC 28301
      View Details
    • Value Estimation by Request
      1,496 SF

      107 Gillespie St

      OFFICE BUILDING • 1,496 SF
      107 Gillespie St, Fayetteville, NC 28301-5643
      View Details
    • Value Estimation
      $1,500,000
      5,816 SF

      230 Donaldson St

      SKYSCRAPER/HIGH-RISE (COM OFFICES) • 5,816 SF
      230 Donaldson St, Fayetteville, NC 28301-5524
      View Details
    • Value Estimation by Request
      3,900 SF

      325 Alexander St

      OFFICE BUILDING • 3,900 SF
      325 Alexander St, Fayetteville, NC 28301-5752
      View Details
    • Value Estimation
      $740,000
      12,800 SF

      128 King St

      OFFICE BUILDING • 12,800 SF
      128 King St, Fayetteville, NC 28301-5970
      View Details

    Similar Nearby for Sale

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      0.18 Acres

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      Two-story building in historic downtown Fayetteville, suitable for office or retail.
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    • $1,999,000
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      Downtown Fayetteville Commercial Property

      Commercial property in downtown Fayetteville with flexible layout and high visibility.
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    • $990,000
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      Hay Street Office Building Investment

      Historic Downtown Fayetteville Office Space
      127 Hay St, Fayetteville, NC 28301
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    • $2,310,000
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      Downtown Fayetteville Office Building

      Prime Office Space, 16,500 sq ft, Move-In Ready
      208 Hay St, Fayetteville, NC 28301
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    • Contact for pricing
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      Downtown Fayetteville Flexible Commercial Space

      Versatile 5,000+ sq ft property in downtown Fayetteville.
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    Similar Nearby for Lease

    • $2,000 /Mo
      1,449 SF

      Fayetteville Office Space For Rent

      Professional office space near Cumberland County Court House.
      115 S Cool Spring St, Fayetteville, NC 28301
      View Details
    • $1,750 /Mo
      933 SF

      Downtown Fayetteville Office Space Available

      Lower-level office space in revitalizing downtown Fayetteville.
      125 Person St, Fayetteville, NC 28301
      View Details
    • $600 /Mo

      Downtown Fayetteville Office Space Available

      Individual office spaces for lease in downtown Fayetteville, North Carolina.
      219 Dick St, Fayetteville, NC 28301
      View Details
    • $12 SF/Yr
      9,918 SF

      Heritage Commons Office Space

      Fayetteville, NC Office Suites Available
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      View Details
    • New
      $2,200 /Mo
      1,470 SF

      Downtown Fayetteville Retail/Office Space

      Flexible retail/office space in downtown Fayetteville, NC.
      403 Gillespie St, Fayetteville, NC 28301
      View Details
    • Contact for pricing
      2,400 SF

      Executive Office Suite, Gillespie St

      1350 sq ft, furnished, utilities included
      561 Gillespie St, Fayetteville, NC 28301
      View Details
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    324 Person St
    Fayetteville, NC 28301-5736
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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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