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

    1060 Person Farm Road SE Bolivia, NC 28422

    View on Map
    Claim this Listing
    For Sale
    $2,200,000

    LAND - Bolivia, NC

    Lot size:
    7.00 Acres
    Added:
    Apr 6, 2026
    Days on Market:
    13
    Last Refresh:
    Apr 18 at 3:06 pm

    Property Features for 1060 Person Farm Road SE

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Co-R-7500
    Standard status
    Active
    APN
    2010001311
    Lot size
    7.00 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    7.0 Acres Plat 18/468
    Tax Annual Amount
    310

    Utilities

    Utilities
    Water Available

    We can help!

    Listing Contact
    John B Hinnant
    John B Hinnant

    Listing agent John B Hinnant License #233411

    Listing office Hinnant Real Estate 219 N 23rd Street, Wilmington, NC

    Listing date Apr 6, 2026

    MLS# 100565207 Listing URL

    Copyright © 2026 Hive 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

    Prime Land Assemblage Opportunity

    This 42-acre assemblage consists of 5 lots under two owners and is positioned in a rapidly growing area surrounded by new construction. One owner controls 4 lots totaling 34.2 acres, while the second owner holds the remaining 10 acres. The property features 2 access points: a 60' right of way easement along Alexander Trail and a dedicated 20-foot wide Right-of-Way (ROW) on Person Farm Rd, both offer direct access to Sunset Harbor Road. Situated on high ground, it boasts a scenic bluff that gently descends toward Mill Creek. The property is zoned R-7500 and has strong Planned Development potential. It is located in Bolivia, Brunswick County, North Carolina. The property is ideal for a custom home community, townhomes, or larger-scale residential development in one of the area's most active growth zones.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Department Store Car Rental Facility Pet Store Pet Grooming Service (Bike/Boat/Book/etc) Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Bolivia
    County
    Brunswick
    State
    North Carolina
    Longitude
    -78.2084776
    Latitude
    33.9649144

    Nearby Similar for Sale

    • $799,000

      Cleared Land Ready to Build

      Prime 4-acre corner lot, shovel-ready for commercial development.
      Ocean Highway E, Bolivia, NC 28422
      View Details
    • $400,000

      Cleared Land Near Oak Island

      5.1 acres of cleared land ready for development.
      769 Midway Road SE, Bolivia, NC 28422
      View Details
    • $450,000

      Ready-to-Build Site in Brunswick County

      3-acre property with garage, utilities, near Oak Island.
      634 Byrnes Way SE, Bolivia, NC 28422
      View Details
    • $200,000

      Wooded Lot Overlooking Golf Course

      Large wooded lot in gated golf community.
      500 Riverwood Drive SE lot: 48-B, Bolivia, NC 28422
      View Details
    • $167,995

      Waterfront Homesite in Gated Community

      Build your dream home with direct boating access to Intracoastal.
      213 Lockhaven Drive SE, Bolivia, NC 28422
      View Details
    • $84,900

      Land with River Access

      Residential lot in gated community with riparian rights.
      807 Weston Lane SE, Bolivia, NC 28422
      View Details
    • $40,000

      Bolivia, NC Vacant Land

      0.71-acre vacant lot in Bolivia, NC, ready for development.
      1212 Easy Street SE lot: 25-26, Bolivia, NC 28422
      View Details
    • $375,000

      Waterway View Land Opportunity

      Two adjoining lots with Intracoastal Waterway views in Bolivia, NC.
      540 & 544 Lockwood Folly Road SE lot: 16 & 17, Bolivia, NC 28422
      View Details
    • $35,000

      Bolivia, NC Land Opportunity

      Land in Bolivia, NC, with no HOA and flexible zoning.
      914 Cypress Lakes Circle SE lot: 76, Bolivia, NC 28422
      View Details
    • $135,000

      Oversized Homesite in RiverSea Plantation

      Ready-to-build homesite with water views and exceptional privacy.
      507 Hearthside Drive SE lot: 207, Bolivia, NC 28422
      View Details
    • $58,000

      Waterfront Community Homesite Opportunity

      Homesite in gated waterfront community to build your dream home.
      3175 Channel Drive SE lot: 78, Bolivia, NC 28422
      View Details
    • $505,000

      Developable Land Near Lockwood Folly

      Developable land with subdivision potential near Lockwood Folly River marsh.
      476 Crossland Road SW, Bolivia, NC 28422
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 42-acre assemblage in high-growth area, ideal for development.
    Where is this residential land & home lot located?
    The property is located at 1060 Person Farm Road SE Bolivia, NC.
    What is the asking price?
    The asking price for this property is $2,200,000.
    What are key features of this property?
    This property features: 42‑acre assemblage of 5 lots, offering significant development potential; Located in a rapidly growing area with active new construction; Two dedicated Rights‑of‑Way (ROWs) providing direct access to Sunset Harbor Road
    (910) 619-3430
    We can help!
    Listing Contact
    John B Hinnant
    John B Hinnant
    Real Estate License ID: 233411
    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!