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    1.62 acres Lot 204B Johns Ridge Parkway unit 204B Lenoir, NC 28645

    View on Map
    For Sale
    $149,900

    LAND - Lenoir, NC

    Lot size:
    1.62 Acres
    Added:
    Jun 20, 2025
    Days on Market:
    286
    Last Refresh:
    Apr 1 at 7:06 am

    Property Features for 1.62 acres Lot 204B Johns Ridge Parkway unit 204B

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    PUD
    Standard status
    Active
    APN
    04 7 3204B
    Lot size
    1.62 Acres

    Taxes and HOA fees

    TaxDescription
    BK 1900 PG 435 YR 2016 ST 274.00

    Utilities

    Sewer type
    Septic Needed
    Water source
    Well Needed

    We can help!

    Listing Contact
    Jennifer Shattuck

    Listing agent Jennifer Shattuck License #262387

    Listing office Arrow Realty & Land Development 2121 Harper Ave SW / PO Box 1530, Lenoir, NC

    Listing date Jun 20, 2025

    MLS# 4271786 Listing URL

    Copyright © 2026 Canopy 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

    Mountain View Land in Lenoir

    This 1.62-acre property in Lenoir, NC, offers mountain views, including Grandfather Mountain and Blue Ridge Mountain vistas. Located within The Coves Mountain River Club, the land provides an opportunity for a mountain lifestyle. An existing driveway leads to a build site with views, and clearing trees could further enhance the scenery. The property has an expired 3-bedroom septic permit. Buried utilities are available at the street. Situated between the clubhouse and Johns River, the location allows access to the Collettsville General Store, Fire Dept, and Pisgah National Forest. The Coves community features 5 miles of riverfront, 2 equestrian centers, pickleball courts, a dog park, putting green, vineyard, community garden, and a trail system. The post/beam clubhouse offers amenities such as a fitness center, locker rooms, a saline pool, billiards, a full kitchen, fire-rings, and picnic pavilions. The property is located 1.25 hours from Charlotte or Asheville, NC, and minutes from Lenoir, Morganton, Blowing Rock, and Hickory. There are no time limits to build.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Hotel & Motel Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Lenoir
    County
    Caldwell
    State
    North Carolina
    Longitude
    -81.672
    Latitude
    35.906

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    FAQs

    What type of property is this?
    Residential land & home lot - 1.62 acres with mountain views in The Coves community.
    Where is this residential land & home lot located?
    The property is located at 1.62 acres Lot 204B Johns Ridge Parkway unit 204B Lenoir, NC.
    What is the asking price?
    The asking price for this property is $149,900.
    What are key features of this property?
    This property features: 1.62 acre lot with INCREDIBLE mountain views including Grandfather Mountain and Blue Ridge Mountain vistas.; Located in The Coves Mountain River Club, a premiere community with extensive amenities.; Existing driveway to build site with buried utilities at the street.
    (828) 726-7055
    We can help!
    Listing Contact
    Jennifer Shattuck
    Real Estate License ID: 262387
    Learn More
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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
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