101 Gillespie St - Office/Residential FOR SALE


Fayetteville, NC 28301
$2,650,000 USD
919-920-2140
101 Gillespie St, Fayetteville, NC for Sale
$2,650,000 USD
Office/Residential - FOR SALE
1/6
null | Request Cap Rate

101 Gillespie St
Fayetteville, NC 28301


OVERVIEW

The Lawyers Building, located at 101 Gillespie Street, is a historic five-story structure situated at Market Square in Fayetteville, NC. It presents a unique mixed-use opportunity. Possibilities include a restaurant space on the ground level and offices, along with short- or long-term residential rentals on the upper floors. It offers versatility in usage. Built in 1916, it holds a special place as Fayetteville's inaugural skyscraper and is listed on the National Register. Additionally, the features of this building are underscored by the presence of a downtown parking lot. Although it requires a comprehensive upfit across all floors, the potential for Historic Tax Credits, Opportunity Zone Incentives, and New Market Credits enhances its appeal. Acquiring this property offers investors a chance to own a significant slice of Fayetteville's storied past. Located at the intersection of Hay St. and Gillespie St. in historic downtown Fayetteville, this property boasts a prime location teeming with amenities and attractions. Residents and visitors alike can enjoy easy access to a variety of restaurants, retail establishments, and businesses, all within walking distance. The nearby Segra Stadium adds to the vibrant atmosphere, while the imminent construction of the Crown Event Center promises even more excitement with its 3000-seat performing arts venue. Situated centrally within the Fayetteville Metropolitan Statistical Area, this downtown submarket offers unparalleled accessibility to the region, including Fort Liberty, which is reachable in just a 10-15 minute drive. With a three-mile radius encompassing over 39,000 residents and an average household income of $64,215, the property presents an enticing opportunity for businesses looking to tap into a thriving and diverse market. Also a 20 space parking lot included with purchase.

FOR SALE DETAILS

PRICE

$2,650,000 USD

PRICE/SF

$247 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lawyers Building

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Office/Residential

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

5

BUILDING CLASS

C

YEAR BUILT

1917

SPRINKLERS

-

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,614 SF

ZONING

DT1

APN/PARCEL ID

0437-63-4962

ASK ABOUT THIS PROPERTY

Susan EvansGrant-Murray Real Estate LLCMore Info
919-920-2140

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Susan EvansGrant-Murray Real Estate LLCMore Info
919-920-2140

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.