Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Land in King's Harbor Title is generated by Realmo AI

    115 Norine Drive, Holly Ridge, NC 28445

    View on Map
    Claim this Listing
    Pending
    $129,500

    LAND - Holly Ridge, NC

    Lot size:
    2.08 Acres
    Added:
    Feb 27, 2023
    Days on Market:
    1194
    Last Refresh:
    Jun 5 at 8:06 pm

    Property Features for 115 Norine Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    RA
    Standard status
    Pending
    APN
    748b-31
    Lot size
    2.08 Acres

    Taxes and HOA fees

    Tax Year
    2022
    Tax Description
    L12 P3S2 KINGS HARBOR
    Tax Annual Amount
    688

    Utilities

    Water front
    1

    We can help!

    Listing Contact
    Ed McKenna

    Listing agent Ed McKenna License #226486

    Listing office Lewis Realty 320 N New River Drive, Surf City, NC

    Listing date Feb 27, 2023

    MLS# 100371305 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.

    HighLights

    • Water views and access to Kings Creek.
    • Located in the highly desirable King's Harbor neighborhood.
    • Waterways are known for water sports, fishing, kayaking, crabbing, and boating.
    • Only minutes to Topsail Island.
    • Opportunity to build a custom dream home.
    • One of the last 10 lots available from the developer.

    Overview

    This property is located in the King's Harbor neighborhood, known for water views and access to Kings Creek. The waterways near Holly Ridge are suitable for water sports, fishing, kayaking, crabbing, and boating. The property is located minutes from Topsail Island. This is a 2.08-acre lot intended for residential use.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Auto Repair Shop Hotel & Motel Gym & Fitness Center Storage Facility Electrical Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Holly Ridge
    County
    Onslow
    State
    North Carolina
    Longitude
    -77.504613
    Latitude
    34.486245

    Nearby Similar for Sale

    • $559,000

      Dockable Homesite Near ICW

      Dockable 0.58 acre homesite with ICW access.
      246 Bethea Street lot: 16, Holly Ridge, NC 28445
      View Details
    • $124,900

      Homesite in Redd's Cove

      0.66-acre homesite with 4-bedroom septic permit in hand.
      208 River Oats Court, Holly Ridge, NC 28445
      View Details
    • $175,000

      Commercial Land in Holly Ridge

      Commercial land available in growing Holly Ridge, North Carolina.
      604 Us Highway 17 S lot: 6, Holly Ridge, NC 28445
      View Details
    • $178,500

      Waterfront Homesite in Gated Community

      Half-acre homesite with water views and community amenities.
      139 Bethea Street lot: 32, Holly Ridge, NC 28445
      View Details
    • $133,000

      Homesite in Summerhouse on Everett Bay

      Homesite in Summerhouse on Everett Bay with water access.
      250 Kings Creek Crossing lot: 1018, Holly Ridge, NC 28445
      View Details
    • $133,000

      Homesite Near Kings Creek

      Homesite near Kings Creek with community amenities.
      232 Kings Creek Crossing lot: 1009, Holly Ridge, NC 28445
      View Details
    • $917,900

      Holly Ridge Development Site

      6.36 acre development site on US Hwy 17.
      9001 Wilmington Highway, Holly Ridge, NC 28445
      View Details
    • $669,900

      Waterfront Land in Holly Ridge

      Intracoastal Waterway lot with planned amenities and water access.
      155 Bethea Street lot: 26, Holly Ridge, NC 28445
      View Details
    • $657,900

      Waterfront Homesite in Holly Ridge

      Intracoastal Waterway homesite with community amenities and water access.
      209 Bethea Street lot: 11, Holly Ridge, NC 28445
      View Details
    • $2,899,000
      3,606 SF

      Established Restaurant Business and Building

      Thriving restaurant with prime location and sound reputation.
      211 S Topsail Dr, Holly Ridge, NC
      View Details
    • $116,000

      Water View Lot in Summerhouse

      Residential lot with water views and resort-style amenities.
      162 Whispering Pine Lane lot: 212, Holly Ridge, NC 28445
      View Details
    • $117,500

      Residential Lot in Loggerhead Bay

      Building lot in waterfront community near Topsail Island beaches.
      405 Palustris Court, Holly Ridge, NC 28445
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Land with water views and access to Kings Creek.
    Where is this residential land & home lot located?
    The property is located at 115 Norine Drive Holly Ridge, NC.
    What is the asking price?
    The asking price for this property is $129,500.
    What are key features of this property?
    This property features: Water views and access to Kings Creek.; Located in the highly desirable King's Harbor neighborhood.; Waterways are known for water sports, fishing, kayaking, crabbing, and boating.
    (910) 232-1010
    We can help!
    Listing Contact
    Ed McKenna
    Real Estate License ID: 226486
    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

    Thank You for Inquiry
    115 Norine Drive, Holly Ridge, NC 28445
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!