Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Commercial Land on Highway 55 Title is generated by Realmo AI

    155 Nc Hwy 55, Mount Olive, NC 28365

    View on Map
    Claim this Listing
    Picture of Commercial land at 155 Nc Hwy 55, Mount Olive, NC
    For Sale
    $375,000

    LAND - Mount Olive, NC

    Lot size:
    1.00 Acre
    Added:
    Jun 30, 2015
    Days on Market:
    3980
    Last Refresh:
    May 22 at 11:06 pm

    Property Features for 155 Nc Hwy 55

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Agr/Res
    Standard status
    Active
    Lot size
    1.00 Acre

    Taxes and HOA fees

    Tax Year
    2022
    Tax Annual Amount
    1103

    Utilities

    Utilities
    Cable Available
    Sewer type
    Septic Tank
    Water source
    Public

    We can help!

    Listing Contact
    David Kornegay
    David Kornegay

    Listing agent David Kornegay License #165118

    Listing office Kornegay Realty P.O. BOX 97, Mt Olive, NC

    Listing date Jun 30, 2015

    MLS# 64636 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

    • Approximately 1 acre of land.
    • Located directly on busy Highway 55.
    • In the heart of the commercial district.
    • Public water source.
    • Cable available.
    • Located in Mt. Olive, NC.

    Overview

    This is an approximately 1-acre commercial land parcel situated on Highway 55 in Mount Olive, North Carolina. The property is located in the central commercial district of Mount Olive, in Wayne County. The zoning is Agr/Res.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Spa & Massage Center Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Gym & Fitness Center Department Store Accounting Firm Storage Facility

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

    Location Insight

    • Map
    • Local Demand
    City
    Mount Olive
    County
    Wayne
    State
    North Carolina
    Longitude
    -78.041255
    Latitude
    35.203039

    Nearby Similar for Sale

    • $100,000
      1,524 SF

      Downtown Mount Olive Commercial Building

      Commercial building in downtown Mount Olive with conversion potential.
      119 N Center Street, Mount Olive, NC 28365
      View Details
    • $5,000

      Mount Olive In-Town Lot

      Small lot near University of Mount Olive, North Carolina.
      Off Of SE Center Street, Mount Olive, NC 28365
      View Details
    • $24,900

      Mount Olive Land Opportunity

      0.55 acre lot near University of Mount Olive.
      Off Of S Chestnut Street, Mount Olive, NC 28365
      View Details
    • $14,900

      Mount Olive In-Town Lot

      0.22 acre lot near University of Mount Olive.
      Off Of E Kornegay Street, Mount Olive, NC 28365
      View Details
    • $375,000
      8,316 SF

      Mount Olive Commercial Property

      Commercial property for sale in the heart of Mount Olive.
      500 N Breazeale Avenue, Mount Olive, NC 28365
      View Details
    • $107,000
      1,524 SF

      Downtown Mt. Olive Commercial Building

      Commercial building in downtown Mt. Olive with conversion potential.
      119 N Center Street, Mount Olive, NC 28365
      View Details
    • $7,500

      Mount Olive Residential Land Opportunity

      0.11 acre lot near University of Mount Olive.
      Off Of Franklin Street, Mount Olive, NC 28365
      View Details
    • $9,500

      Mount Olive In-Town Lot

      0.14 acre lot near University of Mount Olive.
      Off Of Franklin Street, Mount Olive, NC 28365
      View Details
    • $157,500
      3,681 SF

      Commercial Building For Sale

      3681 SF commercial building suitable for various uses.
      708 S Breazeale Avenue, Mount Olive, NC 28365
      View Details
    • $20,000

      Residential Lot in Mount Olive

      Residential lot available outside city limits in Mount Olive, NC.
      Pineland Avenue lot: 40, Mount Olive, NC 28365
      View Details
    • $42,300

      Land in Mount Olive, NC

      5.27 acres of land with development potential.
      Parcel 6 Thunder Swamp Road, Mount Olive, NC 28365
      View Details
    • $52,700

      Land in Mount Olive, NC

      5.18 acres of land with development potential.
      Parcel 1 Thunder Swamp Road, Mount Olive, NC 28365
      View Details

    FAQs

    What type of property is this?
    Commercial land - One acre commercial land for sale on Highway 55.
    Where is this commercial land located?
    The property is located at 155 Nc Hwy 55 Mount Olive, NC.
    What is the asking price?
    The asking price for this property is $375,000.
    What are key features of this property?
    This property features: Approximately 1 acre of land.; Located directly on busy Highway 55.; In the heart of the commercial district.
    (919) 738-3982
    We can help!
    Listing Contact
    David Kornegay
    David Kornegay
    Real Estate License ID: 165118
    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
    155 Nc Hwy 55, Mount Olive, NC 28365
    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!