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    1216 Petite Terre Court New Bern, NC 28560

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    Claim this Listing
    Pending
    $792,000

    LAND - New Bern, NC

    Lot size:
    10.09 Acres
    Added:
    Sep 17, 2024
    Days on Market:
    576
    Last Refresh:
    Apr 15 at 2:06 am

    Property Features for 1216 Petite Terre Court

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Residential
    Standard status
    Pending
    APN
    2-052 -025
    Lot size
    10.09 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Description
    LOT 25 MONTEGO SEC 6 PT 1
    Tax Annual Amount
    71

    We can help!

    Listing Contact
    Marianne Clark

    Listing agent Marianne Clark License #181098

    Listing office Keller Williams Realty 1320 MCCARTHY BLVD., New Bern, NC

    Listing date Sep 17, 2024

    MLS# 100466603 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

    Waterfront Community Bulk Lot Sale

    This bulk lot sale includes 24 residential lots located in the gated waterfront community of Fairfield Harbour in New Bern, NC. The community provides first-class amenities. The lots are: 5809 Jolly Roger Ct (.273 acres per GIS), 2130 Caracara Dr (.275 acres per GIS), 2204 Caracara Dr (.282 acres per GIS), 5708 Barbary Coast Dr (.281 acres per GIS), 915 Pelican Dr (.298 acres per GIS), 829 Pelican Dr (.28 acres per GIS), 707 Wind Way (.297 acres per GIS), 5502 Fish Cay Ct (.292 acres per GIS), 1507 Columbus Ct (.39 acres per GIS), 721 Helm Dr (.271 acres per GIS), 912 Lanyard Ln (.331 acres per GIS), 2002 Caracara Dr (.284 acres per GIS), 6107 Gondolier Dr (.276 acres per GIS), 2216 Caracara Dr (.357 acres per GIS), 906 Gulf Stream Ct (.287 acres per GIS), 2218 Caracara Dr (.282 acres per GIS), 1212 Petite Terre Ct (.277 acres per GIS), 912 River Reach (.469 acres per GIS), 1108 Barkentine Dr (.282 acres per GIS), 1214 Petite Terre Ct (.273 acres per GIS), 706 Mistique Ct (.293 acres per GIS), 910 Hurricane Ct (.352 acres per GIS), 1218 Petite Terre Ct (.285 acres per GIS), and 1216 Petite Terre Ct (.275 acres per GIS). The total lot size is 10.09 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Hair Salon Hotel & Motel Storage Facility Travel Agency

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

    Location Insight

    • Map
    • Local Demand
    City
    New Bern
    County
    Craven
    State
    North Carolina
    Longitude
    -76.962518
    Latitude
    35.083727

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    FAQs

    What type of property is this?
    Residential land & home lot - 24 residential lots in gated waterfront community with amenities.
    Where is this residential land & home lot located?
    The property is located at 1216 Petite Terre Court New Bern, NC.
    What is the asking price?
    The asking price for this property is $792,000.
    What are key features of this property?
    This property features: Bulk sale of 24 lots.; Located in the **gated waterfront community of Fairfield Harbour.**; Community offers first‑class amenities.
    (252) 342-7269
    We can help!
    Listing Contact
    Marianne Clark
    Real Estate License ID: 181098
    Learn More
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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
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