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Lawyers Building 101 Gillespie St

10,725 SF Office Building Fayetteville, NC 28301 $2,650,000 ($247/SF)

Executive Summary

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.

Property Facts

Sale Type
Investment
Property Type
Office
Property Subtype
Office/Residential
Building Size
10,725 SF
Building Class
C
Year Built/Renovated
1917/2012
Price
$2,650,000
Price Per SF
$247
Tenancy
Single
Building Height
5 Stories
Typical Floor Size
2,145 SF
Slab To Slab
11’
Building FAR
4.10
Lot Size
0.06 AC
Opportunity Zone
Yes
Zoning
DT1 - Down Town
Parking
20 Spaces (1.86 Spaces per 1,000 SF Leased)
Walk Score ®
Very Walkable (76)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
0437-63-4962
Land Assessment
$135,447
Improvements Assessment
$485,730
Total Assessment
$621,177
  • Listing ID: 31322351

  • Date on Market: 3/25/2024

  • Last Updated:

  • Address: 101 Gillespie St, Fayetteville, NC 28301

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