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    For Sale (18)

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    Norwood, NC Land Available
    $165,000
    11.00 Acres

    Norwood, NC Land Available

    11+/- acres of land just outside of Norwood city limits.

    Riverview Rd, Norwood, NC 28128
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    Waterfront Lot in Gated Community
    $295,000
    0.43 Acres

    Waterfront Lot in Gated Community

    Residential lot in Norwood, NC with lake access and amenities.

    Tidewater Ct, Norwood, NC 28128
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    Waterfront Lot in Gated Community
    $199,000
    1.44 Acres

    Waterfront Lot in Gated Community

    Waterfront lot with amenities in Edgewater at Lake Tillery.

    Tealwood Ct, Norwood, NC 28128
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    Norwood Land with Community Amenities
    $300,000
    1.45 Acres

    Norwood Land with Community Amenities

    Land in Edgewater community with clubhouse, pool, and lake access.

    Edgewater Dr, Norwood, NC 28128
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    Waterfront Lot in Edgewater
    $135,000
    1.00 Acre

    Waterfront Lot in Edgewater

    Gently sloping, wooded waterfront lot with community amenities.

    Bridgeview Ct, Norwood, NC 28128
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    Norwood Land with Community Amenities
    $110,000
    0.86 Acres

    Norwood Land with Community Amenities

    Land in Edgewater community with clubhouse, pool, and lake access.

    Summerhouse Pt, Norwood, NC 28128
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    Norwood, NC Building Lot
    $144,500
    1.09 Acres

    Norwood, NC Building Lot

    Large, gently sloped lot in gated community with lake views.

    Eagle Pointe Dr, Norwood, NC 28128
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    Residential Land in Gated Community
    $59,900
    4.43 Acres

    Residential Land in Gated Community

    4.43 acre lot in Swift Island Plantation, Mount Gilead.

    129 Plantation Way, Mount Gilead, NC 27306
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    Lake Tillery Waterfront Lots
    $345,000
    1.36 Acres

    Lake Tillery Waterfront Lots

    Rare waterfront lots with sunset views on Lake Tillery.

    Lakewood Cir, Troy, NC 27371
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    Mount Gilead Wooded Corner Lot
    $49,500
    2.05 Acres

    Mount Gilead Wooded Corner Lot

    Two-acre wooded corner lot in gated community near Lake Tillery.

    115 Water Oak Way, Mount Gilead, NC 27306
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    Waterfront Lot in Gated Community
    $112,000
    0.87 Acres

    Waterfront Lot in Gated Community

    Residential land in gated community with lake access and amenities.

    Tidewater Ct, Norwood, NC 28128
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    Waterfront Lot in Gated Community
    $112,000
    0.89 Acres

    Waterfront Lot in Gated Community

    0.89-acre waterfront lot with community amenities on Lake Tillery.

    Edgewater Dr, Norwood, NC 28128
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    Residential Land Near Lake Tillery
    $110,000
    1.07 Acres

    Residential Land Near Lake Tillery

    Residential land with access to amenities near Lake Tillery.

    Forest Lake Ct, Norwood, NC 28128
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    Lake Tillery Interior View Lot
    $125,000
    0.95 Acres

    Lake Tillery Interior View Lot

    Residential land in gated community with lake access and amenities.

    Edgewater Dr, Norwood, NC 28128
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    Lake Tillery Interior View Lot
    $125,000
    1.03 Acres

    Lake Tillery Interior View Lot

    Residential land in gated community with lake access and amenities.

    Edgewater Dr, Norwood, NC 28128
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    Lake Tillery Interior View Lot
    $150,000
    1.16 Acres

    Lake Tillery Interior View Lot

    Residential land in gated community with lake access and amenities.

    Edgewater Dr, Norwood, NC 28128
    View details
    Water View Lot in Edgewater
    $150,000
    1.39 Acres

    Water View Lot in Edgewater

    Gated community with clubhouse, pool, beach, and boat ramp.

    Edgewater Dr, Norwood, NC 28128
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    Land in Edgewater Community
    $110,000
    1.01 Acres

    Land in Edgewater Community

    Land with access to clubhouse, pool, and lake amenities.

    Old Frst Ct, Norwood, NC 28128
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    Lake Tillery Properties, LLC
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Lake Tillery Properties, LLC
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