Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Mars Hill Land Opportunity Title is generated by Realmo AI

    E- 13 Red Wolf Run, Mars Hill, NC 28754

    View on Map
    Claim this Listing
    For Sale
    $70,900

    LAND - Mars Hill, NC

    Lot size:
    2.24 Acres
    Added:
    Nov 2, 2020
    Days on Market:
    2025
    Last Refresh:
    May 20 at 2:06 am

    Property Features for E- 13 Red Wolf Run

    General Information

    Property type
    Land
    Property subtype
    Other
    Rooms
    Basement
    Standard status
    Active
    APN
    9788-14-9210
    Lot size
    2.24 Acres

    Taxes and HOA fees

    Tax Description
    2.24 Acres and all amenities

    Utilities

    Sewer type
    Septic Needed
    Water source
    Well Needed

    We can help!

    Listing Contact
    Woody Ryan

    Listing agent Woody Ryan

    Listing office Carolina Mountain Realty, Inc. 423 West US Highway 19E ByPass, NC

    Listing date Nov 2, 2020

    MLS# 3678587 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.

    HighLights

    • Owner financing available at 1/2 of prevailing rate.
    • 2.24 acre lot with a gentle rolling building site, underground utilities and unobstructed views.
    • Located in Red Wolf Run, a mountain community with clubhouse, green space, picnic area, waterfall, pond, gazebo, and trails.
    • Easy access and great roads throughout the community.
    • Convenient location: 15 minutes to Mars Hill and Wolf Laurel Ski Resort, less than 30 minutes to Asheville, and 15 minutes to Burnsville.
    • High elevation (3000+ ft) mountain community suitable for vacation or year‑round living.

    Overview

    This 2.24-acre lot is located in the Red Wolf Run mountain community, which features elevations of 3000+ feet. The community includes a clubhouse, green space with a picnic area, a waterfall, a pond for catch-and-release fishing, a gazebo, and trails. The lot, situated on a gentle, rolling building site, offers views without obstructions and has easy access via well-maintained roads. Underground electric, fiber internet, and telephone services are available. The property is approximately 15 minutes from the town of Mars Hill and Wolf Laurel Ski Resort, and less than 30 minutes from Asheville and 15 minutes from Burnsville. The location provides access to the Black Mountains, offering both recreational opportunities and privacy. The development includes protected common areas, waterways, and a conservation area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Garden Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Mars Hill
    County
    Madison
    State
    North Carolina
    Longitude
    -82.4389718
    Latitude
    35.86439

    Nearby Similar for Sale

    • $799,000

      Prime Interstate Visible Commercial Land

      2.25 acre commercial land with high interstate visibility.
      1672 Crossroads Parkway, Mars Hill, NC 28754
      View Details
    • $99,900

      Mountain Land For Sale

      8.68 acre mountain tract for hunting, recreation, and investment.
      US 23 Highway, Mars Hill, NC 28754
      View Details
    • $60,000

      Land in Wolf Laurel Resort

      One-acre lot with installed septic system in mountain resort.
      366 Birch Springs Lane, Mars Hill, NC 28754
      View Details
    • $125,000

      Mars Hill Land with Creek

      7.54 acres in Mars Hill, NC with Roaring Fork.
      99999 Roaring Fork Road, Mars Hill, NC 28754
      View Details
    • $16,000

      Mars Hill Mountain Hideaway Land

      1.21-acre mountaintop parcel near Asheville with potential views.
      Granny Shepherd Road, Mars Hill, NC 28754
      View Details
    • $60,000

      Mars Hill Land For Sale

      Residential land in Wolf Laurel gated community with mountain views.
      Fox Den Road, Mars Hill, NC 28754
      View Details
    • $1,550,000
      4,720 SF

      Versatile Property with Development Potential

      Two high-end structures on 5.11 acres near I-26.
      275 Manor Road, Mars Hill, NC 28754
      View Details
    • $433,200

      Mars Hill Development Land

      Development tract within Mars Hill city limits.
      S Main Street, Mars Hill, NC 28754
      View Details
    • $389,200

      Mars Hill Land For Sale

      55.598 acres of land in Madison County, North Carolina.
      Devils Knob Road, Mars Hill, NC 28754
      View Details
    • $75,000

      Land in Mountain Meadows Community

      Land with lifestyle in a Green Built community.
      271 Amanda Drive, Mars Hill, NC 28754
      View Details
    • $175,000

      Cleared Land in Gated Community

      2.57-acre cleared corner lot in Settlers Cove near Asheville.
      9999 Settlers Trail, Mars Hill, NC 28754
      View Details
    • $85,000

      Cleared Lot in Gated Community

      1.54-acre lot with horse barn near Mars Hill, NC.
      9999 Settlers Trail, Mars Hill, NC 28754
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 2.24 acre lot in mountain community near Asheville.
    Where is this residential land & home lot located?
    The property is located at E- 13 Red Wolf Run Mars Hill, NC.
    What is the asking price?
    The asking price for this property is $70,900.
    What are key features of this property?
    This property features: Owner financing available at 1/2 of prevailing rate.; **2.24 acre lot with a gentle rolling building site, underground utilities and unobstructed views.**; Located in Red Wolf Run, a mountain community with clubhouse, green space, picnic area, waterfall, pond, gazebo, and trails.
    (828) 682-6166
    We can help!
    Listing Contact
    Woody Ryan
    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

    Thank You for Inquiry
    E- 13 Red Wolf Run, Mars Hill, NC 28754
    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!