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

    2 Orange Grove Rd Hillsborough, NC 27278

    View on Map
    Sponsored
    For Sale
    $279,000

    LAND - Hillsborough, NC

    Lot size:
    2.16 Acres
    Days on Market:
    3
    Last Refresh:
    Mar 24 at 2:06 am

    Property Features for 2 Orange Grove Rd

    General Information

    Special listing conditions
    Standard
    Property type
    Land
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Vegetation
    Cleared
    Zoning
    R1
    APN
    9853916867
    Lot size
    2.16 Acres

    Utilities

    Utilities
    Electricity Available
    Sewer type
    Perc Test Required, Septic Needed, Perc Test On File
    Water source
    Well Needed

    We can help!

    Listing Contact
    Luther Misenheimer
    Luther Misenheimer

    Ward & Misenheimer Realtors LLC

    Listing agent Luther Misenheimer

    Listing date Mar 22, 2026

    MLS# 10153917

    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.

    Learn more

    Property Insight Report

    Overview

    Residential Land in Hillsborough, NC

    This is a 2.16-acre lot that has been cleared and is ready for construction. Located in Hillsborough, North Carolina, the property has an existing 4-bedroom septic permit issued by the Orange County Health Department on May 14, 2020, which expired on May 12, 2025. The seller requests that the buyer use a private soil scientist for expedited septic approval.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Hillsborough
    County
    Orange
    State
    North Carolina
    Longitude
    -79.136633
    Latitude
    36.035463

    Nearby Similar for Sale

    • $600,000
      Pending

      Historic Commercial Building in Hillsborough

      Historic commercial building in downtown Hillsborough with prime Churton Street location.
      118 S Churton St, Hillsborough, NC 27278
      View Details
    • $1,100,000

      Downtown Hillsborough Commercial Building Opportunity

      Commercial building in downtown Hillsborough with redevelopment potential.
      110 N Churton St, Hillsborough, NC 27278
      View Details
    • $3,062,500

      Former Auto Dealership on 2.68 Acres

      12,500 SF building ideal for motor vehicle-related businesses.
      259 S Churton St, Hillsborough, NC 27278
      View Details
    • Contact for pricing
      1,714 SF

      Historic Commercial Building, Hillsborough

      Historic commercial building in downtown Hillsborough with prime Churton Street location.
      118 S Churton St, Hillsborough, NC 27278
      View Details
    • $300,000

      Hillsborough Retail Space - I-85 Access

      Prime Hillsborough location, office/retail space.
      112 John Earl St, Hillsborough, NC 27278
      View Details
    • $1,950,000
      500 SF

      38-Acre Farm Opportunity

      38 acres with income potential near I-40 in Hillsborough.
      4008 Old Nc 86, Hillsborough, NC 27278
      View Details
    • $300,000
      2.01 Acres

      Highway 70 Commercial Land Opportunity

      Prime Hillsborough location, 2.01 acres, high visibility.
      740 Cornelius St, Hillsborough, NC 27278
      View Details
    • $389,000
      1.17 Acres

      Hillsborough Commercial Land Opportunity

      1.17 Acres, Prime Location, $389,000
      415 Nc 86, Hillsborough, NC 27278
      View Details
    • Contact for pricing
      19.48 Acres

      Hillsborough Restaurant Opportunity

      Prime NC Retail Pad, 19 Acres
      0 Waterstone Dr, Hillsborough, NC 27278
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 2.16 acre lot ready for building a home.
    Where is this residential land & home lot located?
    The property is located at 2 Orange Grove Rd Hillsborough, NC.
    What is the asking price?
    The asking price for this property is $279,000.
    What are key features of this property?
    This property features: - Cleared 2.16-acre lot ready for building.; - 4-bedroom septic permit issued by Orange County Health Department (expired 5/12/2025).; - Electricity Available.
    (919) 614-4901
    Request Owner's contact information
    2 Orange Grove Rd Hillsborough, NC 27278
    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.
    2 Orange Grove Rd
    Hillsborough, NC 27278
    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
    2 Orange Grove Rd Hillsborough, NC 27278
    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

    We can help!
    Listing Contact
    Luther Misenheimer
    Luther Misenheimer
    Real Estate License ID: 147304
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!