Listed by Avison Young - Raleigh Durham
$3,495,000
7724 Raeford Rd
Details
APN 9486368393000
Property Type Office
Sub Type Executive Office, Medical Office
Square Footage 20,193
Cap Rate 8.50%
Occupancy 33%
Price per SqFt $173
Year Built 2016
Stories 3
Acreage 3.390
Zoning LC- OI
Parking Spaces 4.77 per 1,000 sq ft
Investment Type Owner/User
Office | 8.50% CAP | 20,193 SqFt
Marketing description
Avison Young is pleased to present 7724 Raeford Road, a unique commercial property strategically located just off U.S. 401/S Raeford Rd, Fayetteville, NC — a highly amenitized, easily accessible corridor with abundant retailers, restaurants and services nearby. Situated on ±3.39 acres, the Property consists of one three-story office building totaling ±20,193 square feet, and has been site plan approved for a second ±20,193 sf building. The Property is currently 33% leased to a well-established medical practice with a remaining lease term of 3+ years and three 10-year renewal options. Prominent monument and building signage available along Raeford Road provide occupiers with visibility, and a healthy parking ratio of 4.77 spaces per 1,000 square feet accommodates a
wide variety of uses including, general office, healthcare clinics and mental and behavioral health. With land and construction prices increasing to new highs, the offering presents a tremendous opportunity to acquire a first-class asset at a price well below replacement cost in a prime location.
The property is situated less than four miles from Cape Fear Valley Hoke Hospital, six miles from First Health Moore Regional Hospital - Hoke, both in Raeford, and less than nine miles from Cape Fear Valley Medical Center in Fayetteville. Additionally, I-295 is located less than two miles from the Property, offering convenient access to Fort Bragg, downtown Fayetteville, I-95, and regional destinations.
Located just off U.S. 401 – premier business corridor in Fayetteville
Investment highlights
- Rare, office investment opportunity that also accommodates owner/occupant use
- Site plan approved for twin building on same parcel, with retention pond and a portion of parking lot already in place
- Parcel suitable for tenants requiring an outdoor area, offering approximately 12,500 SF of open space
- Prominent monument and building signage providing tenants with added visibility
- Priced well below replacement cost, the offering presents investors with the opportunity to acquire a high-quality, income-producing asset at an attractive basis
- Ample dedicated surface parking with a ratio of 4.77/1,000 with potential for an additional 75 surface spaces to satisfy an assortment of tenancies
- Adaptable building with zoning capable of accommodating a variety of uses
- Excellent regional connectivity strategically located off a highly amenitized corridor with easy access to I-295, downtown Fayetteville, I-95, and regional destinations
- 13,400 Sf Shell Space At $110/Sf
Listing Contacts
Listed by Avison Young - Raleigh Durham
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Zoning
LC CommercialSpecial CommercialLimited Commercial
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