Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    000001 Ray Hill Road unit 1 Mills River, NC 28759

    View on Map
    For Sale
    Under Contract
    $90,000

    LAND - Mills River, NC

    Lot size:
    1.01 Acres
    Added:
    Mar 9, 2026
    Days on Market:
    23
    Last Refresh:
    Mar 31 at 10:06 pm

    Property Features for 000001 Ray Hill Road unit 1

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active Under Contract
    APN
    9630313306
    Lot size
    1.01 Acres

    Taxes and HOA fees

    TaxDescription
    MINOR SUBDIVISION 1.01 ACRES LO:1 PL:2025-16681

    Utilities

    Sewer type
    Septic Needed
    Water source
    Well Needed

    We can help!

    Listing Contact
    Cole Ordiway
    Cole Ordiway

    Listing agent Cole Ordiway License #332257

    Listing office BluAxis Realty 101 E Allen St, Ste 102, Brevard, NC

    Listing date Mar 9, 2026

    MLS# 4354246 Listing URL

    Copyright © 2026 Canopy MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Mills River Land For Sale

    This one-acre lot, located off Ray Hill Road, features an established gravel drive for easy access. A recent survey is available, along with a soil scientist-prepared septic permit for a 3-bedroom home and preliminary site plan ideas. At least two potential build sites are visible. The land is gently sloped, making it suitable for a crawl space or a walk-in basement. A two-story home may offer potential mountain views. The property backs up to more than 6 acres, creating a private setting. It is located 15 minutes from Hendersonville, 20 minutes from Brevard, and 30 minutes from Asheville. Restrictions include a 1,000 sq. ft. minimum home size, and chickens are allowed (no roosters). Another 1-acre lot is also available.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Real Estate Agency Building Supply Big Box & Wholesale Store Auto Repair Shop Auto Parts Store Food Market Bar & Pub Garden Center Discount Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mills River
    County
    Henderson
    State
    North Carolina
    Longitude
    -82.567183
    Latitude
    35.346356

    Nearby Similar for Sale

    • $935,000

      Mills River Development Opportunity

      Development land in sought-after Mills River location.
      Old Haywood Road, Mills River, NC 28759
      View Details
    • $935,000

      Mills River Land For Development

      Development opportunity near Asheville, NC with proposed homesites.
      Old Haywood Road, Mills River, NC 28759
      View Details
    • $29,000

      Elevated Lot with Mountain Views

      Residential lot in gated community with optional amenities.
      40 Cedar Drive, Mills River, NC 28759
      View Details
    • $1,200,000

      Mills River Homesites For Sale

      Eight-lot subdivision in Mills River with permits ready for construction.
      Old Haywood Road, Mills River, NC 28759
      View Details
    • $90,000

      Mills River Land For Sale

      One-acre parcel with groundwork completed for building a home.
      00002 Ray Hill Road unit: 2, Mills River, NC 28759
      View Details
    • $289,000

      Mills River Homesite Opportunity

      1.14-acre homesite in a luxury mountain community.
      479 Nesbitt Drive unit: 2, Mills River, NC 28759
      View Details
    • $1,200,000

      Mills River Land For Sale

      Eight-lot subdivision in Mills River, ready for construction.
      Old Haywood Road, Mills River, NC 28759
      View Details
    • $2,100,000

      Mills River Land with Creek

      49.9 acres in Mills River with move-in ready home.
      128 Cook Lane, Mills River, NC 28759
      View Details
    • $2,400,000

      Mills River Land with Development Potential

      12 acres near Asheville Airport with multiple development opportunities.
      467 Butler Farm Road, Mills River, NC 28759
      View Details
    • $1,150,000

      Picturesque Land in Mills River

      10 acres in Hendersonville, ideal for equestrian or farming.
      997 Tole Allison Road, Mills River, NC 28759
      View Details
    • $429,500

      Mills River Commercial Land Opportunity

      Prime commercial land with road frontage and existing pole barn.
      00 Marlowe Drive, Mills River, NC 28759
      View Details
    • $55,000

      Residential Lot in High Vista

      Wooded lot in gated community near Asheville and Hendersonville.
      47 Sourwood Drive unit: 197, Mills River, NC 28759
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - One-acre lot with established drive and septic permit.
    Where is this residential land & home lot located?
    The property is located at 000001 Ray Hill Road unit 1 Mills River, NC.
    What is the asking price?
    The asking price for this property is $90,000.
    What are key features of this property?
    This property features: Septic permit for a 3‑bedroom home and preliminary site plan are already in place, saving time and expense.; Established gravel driveway provides easy access to potential build sites.; Gently sloped land suitable for crawl space or walk‑in basement, with potential mountain views from a two‑story home.
    (814) 688-8531
    We can help!
    Listing Contact
    Cole Ordiway
    Cole Ordiway
    Real Estate License ID: 332257
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!