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    133 Cornell Circle Lake Lure, NC 28746

    View on Map
    For Sale
    $120,000

    LAND - Lake Lure, NC

    Lot size:
    0.15 Acres
    Added:
    Oct 8, 2025
    Days on Market:
    176
    Last Refresh:
    Apr 1 at 6:06 am

    Property Features for 133 Cornell Circle

    General Information

    Property type
    Land
    Property subtype
    Other
    Exterior features
    Fire Pit, In-Ground Irrigation
    Standard status
    Active
    APN
    1626044
    Lot size
    0.15 Acres

    Taxes and HOA fees

    TaxDescription
    LT 28 PH 2 APPLE VALLEY FARMS

    Utilities

    Utilities
    Propane
    Water source
    Well

    We can help!

    Listing Contact
    Karie Salser
    Karie Salser

    Listing agent Karie Salser License #317838

    Listing office Realty ONE Group Pivot Hendersonville 319 N King St, Hendersonville, NC

    Listing date Oct 8, 2025

    MLS# 4305996 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

    Lake Lure Class A Lot

    Apple Valley Farm Resort features a privately owned, oversized Class A Motor Coach lot. Located at 133 Cornell Circle, this lot is one of the larger in the community and the only one with an additional parking space suitable for a second vehicle or golf cart. The lot includes a 1000 sqft composite party deck. Residents can enjoy mountain views and utilize the fire pit. The community offers access to a pond and the Victory Kitchen Restaurant on-site. Lot owners have access to a 25' pontoon boat owned by the Apple Valley Farm POA, moored at the Rumbling Bald Marina, which can be reserved for outings on Lake Lure. Owners also have guest pass privileges at the Rumbling Bald Resort, providing access to the beach, workout area, tennis/pickle ball courts, and multiple pools. The sale includes all outdoor furnishings seen in photos. The property has the potential to be income producing, with rent roll available upon request. The lot is equipped with electric, water access via a community well, and sewer. The HOA fee is $2600 per year, with a $1300 capital contribution fee due at closing. Only Class A Motor Coaches less than ten years old are permitted. Seller financing is available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Campgrounds

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Hair Salon Nail Salon Gym & Fitness Center Hotel & Motel Department Store Skin Care Clinic Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake Lure
    County
    Rutherford
    State
    North Carolina
    Longitude
    -82.177746
    Latitude
    35.453099

    Nearby Similar for Sale

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      Renovated Townhome with Rental History

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    • Contact for pricing
      59,909 SF

      Condominium Units in Lake Lure Resort

      68 condominium-style units within established resort, offered for sale.
      747 Buffalo Creek Rd, Lake Lure, NC 28746
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      Esmeralda Inn Restaurant and Spa

      Esmeralda Inn Restaurant and Spa in Lake Lure, NC
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    FAQs

    What type of property is this?
    Campground - Oversized Class A Motor Coach lot with mountain views.
    Where is this campground located?
    The property is located at 133 Cornell Circle Lake Lure, NC.
    What is the asking price?
    The asking price for this property is $120,000.
    What are key features of this property?
    This property features: Oversized Class A Motor Coach lot with additional parking space - the only one in the community.; Access to a 25' pontoon boat on Lake Lure via the Apple Valley Farm POA and Rumbling Bald Marina.; Guest pass privileges at Rumbling Bald Resort including beach, workout area, tennis/pickle ball courts, and multiple pools.
    (828) 606-7620
    We can help!
    Listing Contact
    Karie Salser
    Karie Salser
    Real Estate License ID: 317838
    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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