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    The Largest CRE Database in the US with Over 1 Million Listings

    2 Nc Highway 33 Tarboro, NC 27886

    Sponsored
    For Sale
    $2,308,000

    LAND - Tarboro, NC

    Lot size:
    404.30 Acres
    Days on Market:
    9
    Last Refresh:
    Jan 22 at 11:06 am

    Property Features for 2 Nc Highway 33

    General Information

    Special listing conditions
    Standard
    Property type
    Land
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Vegetation
    Heavily Wooded
    Zoning
    AR-30
    APN
    4811-38-7355
    Lot size
    404.30 Acres

    Utilities

    Utilities
    Electricity Available
    Sewer type
    Septic Needed
    Water source
    Well Needed, Public

    We can help!

    Listing Contact
    Rodney Finkbiner

    Carolina Forestry (919) 510-4663 [email protected]

    Listing agent Rodney Finkbiner (919) 510-4663

    Listing date Jan 14, 2026

    MLS# 10140897 Listing URL

    Copyright © 2026 Doorify MLS of North Carolina. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    404-Acre Farm with Income Potential

    This 404.3-acre farm is located outside of Leggett in Edgecombe County. The property includes 124 acres of cropland and 273 acres of mid-aged and mature timber. It features 7,600 feet of frontage along Swift Creek and 2,250 feet of frontage along Highway 33. The farm generates an approximate annual income of $22,383 from existing farm and hunting leases, which can be continued by the new owner. The timber includes mature mixed hardwoods in the Swift Creek bottomland, as well as mature and mid-aged pines and hardwoods on the uplands. A recent timber inspection estimates the timber value at $250,000+/-. Additional potential sources of income include sand mining and wetland mitigation. The cropland is comprised of loam and sandy-loam soils, including Dga, Ro, GoA, NoA, RaA, and WaB soil types. The fields were left fallow due to the wet spring, but they will be planted in the Spring of 2026. Access throughout the farm is provided by truck/SUV roads and smaller ATV paths. The property benefits from low property taxes through the Forestry/Agriculture Present Use Value program, which can transfer to the new owner at closing. Past timber management activities have created diverse wildlife habitat. County water and electricity are located along the road front, and sewer is located about 1/2 a mile toward Leggett. The farm is located 8 miles to Tarboro and the Kingsboro Mega Site, 15 miles to Rocky Mount and 20 miles to Interstate 95.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Farms

    Suggested Use

    Restaurant Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Tarboro
    County
    Edgecombe
    State
    North Carolina
    Longitude
    -77.594702
    Latitude
    36.001143

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    FAQs

    What type of property is this?
    Farm - 404-acre farm featuring cropland, timber, and income-generating leases.
    Where is this farm located?
    The property is located at 2 Nc Highway 33 Tarboro, NC.
    What is the asking price?
    The asking price for this property is $2,308,000.
    What are key features of this property?
    This property features: - Significant income potential from existing farm and hunting leases ($22,383 annually) and estimated timber value ($250,000+\/-).; - Extensive frontage on Swift Creek (7,600 feet) and Highway 33 (2,250 feet).; - Large acreage (404.3 acres) with diverse land use including cropland (124 acres) and timberland (273 acres).
    (919) 510-4663
    Request Owner's contact information
    2 Nc Highway 33 Tarboro, NC 27886
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    Tarboro, NC 27886
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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
    2 Nc Highway 33 Tarboro, NC 27886
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    We can help!
    Listing Contact
    Rodney Finkbiner
    Real Estate License ID: 185691
    (919) 510-4663
    Learn more
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