121 Elwood AveRaeford, NC 28376

Property Details for 121 Elwood Ave

Year built

1960

Construction

CONCRETE BLOCKS

Property size (Sq ft)

1,700 SF

Property type

Office properties

Property subtype

Office buildings

APN

694340501146

APU

694340501146

Description

This 1,500-square-foot office building presents a compelling investment or leasing opportunity in the heart of Raeford, North Carolina. Located at 121 W Elwood Ave, this single-tenant property boasts a prime downtown location, zoned CB-Central Business, offering versatility for various professional uses. Constructed in 1960, the building is classified as Class C and features a spacious layout including a large reception area, several cubicle workspaces, two private offices, a restroom, and a convenient rear storage area. The property's central location provides easy access to local amenities and key facilities, making it an attractive option for businesses seeking a well-established presence in Raeford's dynamic business district. The building's solid structure offers a strong foundation for immediate occupancy or potential customization to suit specific business needs. This property is available for purchase at $255,000 or for lease at a gross monthly rate of $1,850. Situated in Hoke County, NC, zip code 28376, this offering represents a significant opportunity within a growing market. The property is entirely vacant, providing immediate occupancy for a new tenant or owner-occupier.

• CAP approach

  CAP return

  Valuation

  6%

  $439,969

  6.5%

  $406,126

  7%

  $377,117

• Comparable approach

  Method

  Valuation

  Relative Method

  $388,468

  Geo Method

  $390,218

• Alternative Use

  Use

  Valuation

  Residential

  $503,596

  Hospitality

  $461,291

  Educational

  $383,789

  Medical

  $396,988

  Retail

  $597,005

Location Insight

City

Raeford

County

Hoke

State

North Carolina

Latitude

34.9798

Longitude

-79.2252

CBSA code

22180

CBSA name

FAYETTEVILLE, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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