581 Executive PlFayetteville, NC 28305

Property Details for 581 Executive Pl

Year built

1989

Lot size

0.62 AC

Property size (Sq ft)

4,346 SF

Zone code

LC-LIMITED COMMERCIAL

Property type

Office properties

Property subtype

Other office properties

APN

0427-23-8076-104

APU

427238076104

Description

This exceptional 2,413 sq ft Class B office condo, located at 581 Executive Place (Unit C) in Fayetteville, NC, presents a unique investment opportunity. Completely renovated in 2024, this vacant property boasts a desirable location in the North Fayetteville submarket, known for its low 2.4% vacancy rate and strong rental growth (2.1% increase in the past year, currently averaging $19.20/SF). The three-story building, constructed in 1989 and situated on a 0.62-acre lot (APN: 0427-23-8076-103), offers a versatile layout. The first floor comprises 990 sq ft, including a waiting room, reception area, restrooms, storage, and two private offices. The second floor mirrors this with 994 sq ft, featuring a conference room, restroom, storage, and three private offices. A 429 sq ft open workspace occupies the third floor. A convenient handicap ramp/deck is located at the rear. The property benefits from its proximity to Highland Shopping Center and Tallywood Shopping Center, and is conveniently located one mile from the All-American Expressway on-ramp. This turnkey property is priced at $361,950 ($150/sq ft) and is zoned LC. Floor plans are available upon request.

• CAP approach

  CAP return

  Valuation

  6%

  $1,073,178

  6.5%

  $990,626

  7%

  $919,867

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,118,994

  Geo Method

  $997,581

• Alternative Use

  Use

  Valuation

  Residential

  $1,228,376

  Hospitality

  $1,125,186

  Educational

  $936,141

  Medical

  $968,336

  Retail

  $1,456,220

Location Insight

City

Fayetteville

County

Cumberland

State

North Carolina

Latitude

35.0498

Longitude

-78.9236

CBSA code

22180

CBSA name

FAYETTEVILLE, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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