Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Approved Multifamily Development Opportunity Title is generated by Realmo AI

    1975 Southport Supply Road SE, Bolivia, NC 28422

    View on Map
    Claim this Listing
    For Sale
    $3,900,000

    LAND - Bolivia, NC

    Lot size:
    70.82 Acres
    Added:
    Jun 3, 2025
    Days on Market:
    354
    Last Refresh:
    May 22 at 7:06 pm

    Property Features for 1975 Southport Supply Road SE

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Co-Cld
    Standard status
    Active
    APN
    1860000912
    Lot size
    70.82 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    70.820 AC PL-144/6
    Tax Annual Amount
    2380

    We can help!

    Listing Contact
    Leesa L Johnson

    Listing agent Leesa L Johnson License #202605

    Listing office Sunset Harbor Realty LLC 3958 Sunset Harbor Rd., Bolivia, NC

    Listing date Jun 3, 2025

    MLS# 100511295 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

    • Approved for a 210‑unit multifamily and 47‑unit condo/townhome project.
    • Located at a lighted and signalized major intersection with access and egress in place.
    • Fully entitled and approved plan, ready for development.
    • Proximity to amenities: Handee Hugo's, Subway, Carolina National Golf Course, NC Wildlife Boat Ramp/Fishing Pier, Oak Island Beach, and Roger Bacon Charter School.
    • Located within the county's 5‑mile economic development zone.
    • Option to divide the property.

    Overview

    This property is an approved project for 210 multifamily units and 47 condo/townhomes. The site is anchored by a lighted and signalized major intersection, with access and egress in place. The plan is fully entitled and approved for seven multifamily buildings, each containing 30 units, and eight townhome buildings totaling 47 units of varying sizes. The location is adjacent to a Handee Hugo's Gas Station and Subway. It is situated less than 3 miles from Carolina National Golf Course, 5 miles from the NC Wildlife Dual Boat Ramp and Fishing Pier, 8 miles from Oak Island Beach, and 1 mile from Roger Bacon Charter School. The property is located inside the county's 5 Mile economic development zone. The property consists of 70.82 acres and is located in Bolivia, North Carolina.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Real Estate Agency Department Store Storage Facility Garden Center Discount Store Grocery & Convenience Store Car Rental Facility Nursing Home Nursing Home

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

    Location Insight

    • Map
    • Local Demand
    City
    Bolivia
    County
    Brunswick
    State
    North Carolina
    Longitude
    -78.197409
    Latitude
    33.987583

    Nearby Similar for Sale

    • $799,000

      Cleared Land Ready to Build

      Prime 4-acre corner lot, shovel-ready for commercial development.
      Ocean Highway E, Bolivia, NC 28422
      View Details
    • $450,000

      Ready-to-Build Site in Brunswick County

      3-acre property with garage, utilities, near Oak Island.
      634 Byrnes Way SE, Bolivia, NC 28422
      View Details
    • $200,000

      Wooded Lot Overlooking Golf Course

      Large wooded lot in gated golf community.
      500 Riverwood Drive SE lot: 48-B, Bolivia, NC 28422
      View Details
    • $167,995

      Waterfront Homesite in Gated Community

      Build your dream home with direct boating access to Intracoastal.
      213 Lockhaven Drive SE, Bolivia, NC 28422
      View Details
    • $115,000

      Land in Bolivia, North Carolina

      1.88 acre commercial or residential land opportunity near beaches.
      Galloway Road NE, Bolivia, NC 28422
      View Details
    • $60,000

      Residential Lot in Gated Community

      Building lot in River Run Plantation with septic permit.
      782 Folly Drive SE lot: 207, Bolivia, NC 28422
      View Details
    • $549,000

      Waterfront Land in RiverSea Plantation

      Exceptional waterfront homesite with deep-water access in Bolivia, North Carolina.
      704 Cedarhurst Drive SE, Bolivia, NC 28422
      View Details
    • $35,000

      Bolivia, NC Land Opportunity

      Land in Bolivia, NC, with no HOA and flexible zoning.
      914 Cypress Lakes Circle SE lot: 76, Bolivia, NC 28422
      View Details
    • $135,000

      Oversized Homesite in RiverSea Plantation

      Ready-to-build homesite with water views and exceptional privacy.
      507 Hearthside Drive SE lot: 207, Bolivia, NC 28422
      View Details
    • $58,000

      Waterfront Community Homesite Opportunity

      Homesite in gated waterfront community to build your dream home.
      3175 Channel Drive SE lot: 78, Bolivia, NC 28422
      View Details
    • $48,000

      Residential Land in Gated Community

      Vacant lot in gated community near beaches and amenities.
      3406 Marina Drive SE, Bolivia, NC 28422
      View Details
    • $2,200,000

      Prime Land Assemblage Opportunity

      42 acres in high-growth area, ideal for development.
      1060 Person Farm Road SE, Bolivia, NC 28422
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Approved for 210 multifamily units and 47 condo/townhomes.
    Where is this residential land & home lot located?
    The property is located at 1975 Southport Supply Road SE Bolivia, NC.
    What is the asking price?
    The asking price for this property is $3,900,000.
    What are key features of this property?
    This property features: Approved for a **210‑unit multifamily and 47‑unit condo/townhome project.**; Located at a lighted and signalized major intersection with access and egress in place.; Fully entitled and approved plan, ready for development.
    (910) 777-1785
    We can help!
    Listing Contact
    Leesa L Johnson
    Real Estate License ID: 202605
    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
    1975 Southport Supply Road SE, Bolivia, NC 28422
    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!