Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1661 Old Rock Quarry Road Princeton, NC 27569

    View on Map
    Pending
    $72,265

    LAND - Princeton, NC

    Lot size:
    1.13 Acres
    Added:
    Sep 3, 2025
    Days on Market:
    211
    Last Refresh:
    Apr 1 at 1:06 pm

    Property Features for 1661 Old Rock Quarry Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    RAG
    Standard status
    Pending
    APN
    04P10147C
    Lot size
    1.13 Acres

    Taxes and HOA fees

    TaxYear
    2025
    TaxDescription
    L5 W E Ormond Sd Pb28/307265300-99
    TaxAnnualAmount
    416

    Utilities

    Sewer type
    Septic Tank

    We can help!

    Listing Contact
    Beth Hines
    Beth Hines

    Listing agent Beth Hines License #192858

    Listing office RE/MAX SOUTHLAND REALTY II 5160 Veterans Parkway, Garner, NC

    Listing date Sep 3, 2025

    MLS# 10119499

    Copyright © 2026 Doorify 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

    Princeton Land with Septic System

    This 1.13-acre lot is located in Princeton, Johnston County, North Carolina, within the highly desired Princeton School District. The property features a septic system already in place, making it ready for a future home or investment. The lot is currently tenant-occupied with a manufactured home, which does not convey with the sale. The buyer will assume responsibility for managing the existing tenant arrangement, which is month to month. Situated in a country living environment with no HOA, the property offers convenient access to HWY 70, facilitating an easy commute to Goldsboro, Smithfield, or Raleigh. The zoning is RAG. This versatile property presents an opportunity in one of Johnston County's sought-after school districts.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Furniture & Home Goods Travel Agency Carpet & Flooring Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Princeton
    County
    Johnston
    State
    North Carolina
    Longitude
    -78.159469
    Latitude
    35.488176

    Nearby Similar for Sale

    • $985,000
      3,536 SF

      Princeton Commercial Property For Sale

      High-visibility commercial property with gas station and restaurant spaces.
      9610 Us Hwy 70 E, Princeton, NC 27569
      View Details
    • $363,750
      5,198 SF

      Princeton Commercial Property For Sale

      Versatile commercial property in high-traffic Princeton location, ready for customization.
      101 Dr Donnie H Jones Jr Boulevard W, Princeton, NC 27569
      View Details
    • $89,900
      600 SF

      Highway Commercial Property For Sale

      Commercial property with building, storage, and fencing on 0.43 acres.
      3786 Us-70 Alt, Princeton, NC 27569
      View Details
    • $50,000

      Ready-to-Build Lot in Princeton

      Residential lot in downtown Princeton, ready for new construction.
      S Church Street, Princeton, NC 27569
      View Details
    • $121,150

      2.6 Acre Lot in Princeton

      2.6 acre lot with mobile home in Princeton, North Carolina.
      2057 Old Rock Quarry Road, Princeton, NC 27569
      View Details
    • $121,150

      2.6 Acre Lot in Princeton

      2.6 acre lot with mobile home in Princeton, NC.
      2057 Old Rock Quarry Road lot: 2, Princeton, NC 27569
      View Details
    • $775,000
      24,200 SF

      Highway 70 Commercial Warehouse

      22,400 SF warehouse on 4.24 acres with ample parking.
      9710 Us-70, Princeton, NC 27569
      View Details
    • $79,000

      Wooded Lots in Princeton, NC

      Residential land for sale in a peaceful country setting.
      608 Fellowship Church Road, Princeton, NC 27569
      View Details
    • $79,000

      Wooded Lot in Princeton, NC

      Residential land for sale in a peaceful country setting.
      612 Fellowship Church Road, Princeton, NC 27569
      View Details
    • $79,000

      Wooded Lots in Princeton, NC

      Residential land for sale in a peaceful country setting.
      610 Fellowship Church Road, Princeton, NC 27569
      View Details
    • $32,000

      Commercial Land in Princeton, NC

      Commercial land with road frontage, suitable for small business.
      4717 E U.S. 70 E, Princeton, NC 27569
      View Details
    • $111,550

      Single Wide Mobile Home

      Single wide mobile home on .28 acre lot.
      116 Linda Street, Princeton, NC 27569
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 1.13-acre lot with septic system in Princeton school district.
    Where is this residential land & home lot located?
    The property is located at 1661 Old Rock Quarry Road Princeton, NC.
    What is the asking price?
    The asking price for this property is $72,265.
    What are key features of this property?
    This property features: 1.13‑acre lot in the highly desired Princeton School District.; Septic system already in place.; No HOA.
    (919) 868-6316
    We can help!
    Listing Contact
    Beth Hines
    Beth Hines
    Real Estate License ID: 192858
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!