541 Bonanza Dr - Freestanding FOR SALE


Fayetteville, NC 28303- Westover
$1,150,000 USD
910-988-4263
541 Bonanza Dr, Fayetteville, NC for Sale
$1,150,000 USD
Freestanding - FOR SALE
1/10
null | 5.03% Cap Rate

541 Bonanza Dr
Fayetteville, NC 28303
Westover


OVERVIEW

Grant-Murray Real Estate is pleased to present for sale the value-add opportunity 541 Bonanza Dr. located on 0.82 acres in the Southwest Submarket of Fayetteville. Zoned Limited Commercial (LC), the property can accommodate a diverse range of moderate-intensity general retail, business and service uses that serve groups of neighborhoods. The building, constructed in 2005, measures 9,600 SF and consists of seven (7) units (1,200 SF units, and one 2,400 SF unit). Four (4) of the building units are currently occupied by four (4) tenants, leaving four (4) vacancies. Monthly rent is $1,350 per unit. The T-12 (July 2025-July 2026) net operating income (NOI) amounts to $57,818. T-12 gross income is $81,000 with $23,182 in expenses. Except structural (roof and exterior walls) and lawn maintenance, Tenants are responsible for building maintenance, including HVAC repair and replacement, thereby reducing owner expense. Per Costar analytics, the market average rent per square foot is $19.85, providing an exceptional value-add opportunity to the current $13.50 rent per square foot at the property. Following lease up of the two vacant units, proforma NOI based on current rents ($1,350 per unit) is $90,218 (7.84% cap rate). 541 Bonanza Dr. is located in the Southwest Fayetteville Submarket, 1.50 miles from the nearest entrance to Fort Bragg. In addition to the surrounding subdivisions, Fort Bragg provides an excellent retail customer pool. Specifically, as the world's largest military installation in terms of population, Fort Bragg houses a staggering 53,700 active-duty troops and serves nearly 70,000 active-duty family members, 14,000+ civilian employees, and 6,000+ contractors. The property is also located approximately one (1) mile from the All-American Freeway and two (2) miles from I-295, also known as the Fayetteville Outer Loop, providing the property convenient access to the major roads in and around Fayetteville. For more information, see the Executive Summary Demographics, Business Summary Demographics, and Subdivision Map enclosed below.

FOR SALE DETAILS

PRICE

$1,150,000 USD

PRICE/SF

$120 USD /SF

CAP RATE

5.03%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Building 1

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2005

SPRINKLERS

-

PARKING SPACES

24

LAND DETAILS

CROSS STREETS

Santa Fe Dr

LAND ACRES

0.82 AC

LAND SF

35,719 SF

ZONING

Retail/office

APN/PARCEL ID

0408-47-1428

ASK ABOUT THIS PROPERTY

Richard Fox IIIGrant-Murray Real Estate LLCMore Info
910-988-4263

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Richard Fox IIIGrant-Murray Real Estate LLCMore Info
910-988-4263

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.