It has an arcaded open ground level, and a meeting hall above in a standard market house format which originated in the British Isles and is also common in New England.

It served both as a town hall and general market until the early 20th century, and was declared a National Historic Landmark in 1973.

A study completed by Duke University professor John Cavanagh noted that "sales [near this location] were spaced on the average about two months apart, if that frequently, and in most instances very few slaves were involved in each transaction".

[6][7] The Market House is located in the rotary at the center of the junction of Green, Person, Gillespie, and Hay Streets, in downtown Fayetteville.

It has a hip roof, above which rises a tower that houses a belfry and clock, and is topped by a cupola with weathervane.