1617 Owen DrFayetteville, NC 28304

Property Details for 1617 Owen Dr

Year built

1960

Lot size

0.26 AC

Property size (Sq ft)

3,600 SF

Zone code

OI

Property type

Medical offices

Property subtype

Medical centers

APN

0426-07-7199

APU

426077199

Description

This exceptional commercial land parcel, located at 1617 Owen Drive in Fayetteville, North Carolina (zip code 28304), presents a unique investment opportunity. The 6000+ square foot site is zoned OI and boasts a highly desirable location directly across from Cape Fear Hospital. This prime location offers excellent visibility and accessibility, making it ideal for a variety of commercial uses. The property's previous primary occupancy was a medical office, suggesting its suitability for healthcare-related businesses. Ample parking is available, ensuring convenience for both staff and clients. The property is designated as single-tenant land, offering a straightforward development opportunity. With its strategic location, generous size, and existing infrastructure, this land parcel represents a compelling investment prospect for developers and businesses seeking a prominent presence in Fayetteville's thriving medical corridor. The Cumberland County location provides easy access to major transportation routes and a robust local economy. This is a blank canvas for a new commercial venture, offering significant potential for growth and return on investment. The property's zoning and previous use provide a solid foundation for future development plans. Serious inquiries are encouraged to explore this exceptional opportunity further.

• CAP approach

  CAP return

  Valuation

  6%

  $1,007,500

  6.5%

  $929,996

  7%

  $863,568

• Comparable approach

  Method

  Valuation

  Relative Method

  $926,912

  Geo Method

  $826,344

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,961,590

  Retail / Commercial

  $980,320

  Mixed-Use / Specialty

  $956,671

  Hospitality / Lodging

  $675,640

  Institutional / Educational

  $987,349

  Residential Income

  $1,155,200

  Multifamily

  $1,497,210

  Automotive / Energy

  $846,299

  Parking / Income-Based Land

  $311,959

  Restaurant / Food Service

  $454,560

  Healthcare / Senior Housing

  $1,001,720

Location Insight

City

Fayetteville

County

Cumberland

State

North Carolina

Latitude

35.0337

Longitude

-78.9305

CBSA code

22180

CBSA name

FAYETTEVILLE, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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