Mixed Use Redevelopment Opportunity Downtown

Retail-Commercial for Sale
Catylist Listing ID: 30794623
Property Subtypes: Mixed Use
Building Size (RSF): 69,235 SF
Sale Price: $4,900,000
Unit Price: $70.77 PSF
In Opportunity Zone? Yes
Property Use Type: Investment
Usable Size (USF): 69,235 SF
Sale Terms: Cash to Seller, Other
Cap Rate: Undisclosed
Last Updated: 5/12/2022

Overview / Comments

Unique opportunity to purchase nearly 70,000 SF in Downtown Fayetteville. The historic Huske Buildings located at 405-421 Hay St are available for sale for $4,900,000. The property consist of three parcels totaling 1.98 acres zoned DT and a large parking lot to the rear. Building 405 is a 41,950 SF four-story building with the majority of it occupied by Huske Hardware, a long standing downtown brewery and restaurant. Building 417 is a 27,285 SF five-story building with a clothing store and salon on the ground floor. Floors two through five could be built out as apartments to make this a very unique redevelopment project in the heart of historic downtown Fayetteville just steps away from the Segra Stadium, Prince Charles, and much more.

The property is located in historic downtown Fayetteville at the intersection of Hay St and Ray Ave. The new Segra baseball stadium is within a block from the property and numerous other restaurants, retail, Fayetteville City Hall, and other businesses are all within walking distance from the property. The downtown Fayetteville submarket is centrally located within the Fayetteville MSA making is easily accessible to the region and having a 10-15 minute drive from Fort Bragg. Within a three mile radius of the property there are 34,821 residents with an average household income of $56,130 and a daytime population of 55,577.

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Additional Details

Nearest MSA: Fayetteville
County: Cumberland
Tax ID/APN: 0437-54-1426, 0437-44-9490, 0437-44-9444
Zoning: DT
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Year Built: 1904

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,785 42,541 114,025
Median Age: 36.92 37.49 35.31
Households: 1,967 18,141 47,151

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