Sign Up Successful!
You now have access to more from Realmo!
    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

    2076 Waterford Way Morganton, NC 28655

    Sponsored
    For Sale
    $295,000

    Land, Other - Morganton, NC

    Days on Market:
    160
    Last Refresh:
    Jan 31 at 1:06 pm

    Property Features for 2076 Waterford Way

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    1763092827
    Exterior features
    Dock
    Dock
    1

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Polly Leadbetter
    Polly Leadbetter

    Engel & Völkers Foothills Longtown (828) 584-9999

    Listing agent Polly Leadbetter (828) 584-9999

    Listing date Aug 25, 2025

    MLS# 4293347 Listing URL

    Copyright © 2026 Engel & Völkers. 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

    Waterfront Lot with Private Dock

    This waterfront property on Lake James features a covered aluminum dock already in place. Located in the private East Shores community on a cul-de-sac, the lot has been cleared and is ready for construction. Its location is adjacent to Mimosa Marina, offering convenient access to fuel. The no-wake cove is suitable for swimming and floating, with quick access to the main channel for fishing, wake surfing, kayaking, and paddle boarding. Community amenities are located nearby and include an outdoor pool, tennis and basketball courts, with pickleball courts coming soon. Downtown Morganton, with its shops, dining, and entertainment options, is just 20 minutes away.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Realty agency Building Supply Florist

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

    Location Insight

    • Map
    • Local Demand
    City
    Morganton
    County
    Burke
    State
    North Carolina
    Longitude
    -81.827143
    Latitude
    35.754814

    Nearby Similar for Sale

    • $650,000
      1.28 Acres

      Established Seafood Business Opportunity

      Turnkey seafood business with real estate and equipment included.
      410 E Fleming Dr, Morganton, NC 28655
      View Details
    • $299,000
      0.40 Acres

      Morganton Duplex with Rental History

      Duplex in Morganton, NC with established rental history and prime location.
      100 Normandy Dr, Morganton, NC 28655
      View Details
    • $349,900
      0.78 Acres

      Downtown Morganton Barber Shop Opportunity

      Barber shop with five stations in downtown Morganton.
      725 E Union St E, Morganton, NC 28655
      View Details
    • $699,000
      0.51 Acres

      Corner Lot with High Visibility

      Prime corner lot with high traffic and development potential.
      324 Sanford Dr, Morganton, NC 28655
      View Details
    • New
      $289,000
      0.99 Acres

      Corner Lot with Highway Frontage

      Versatile property with existing lease income and business potential.
      2425 Hwy W, Morganton, NC 28655
      View Details
    • $1,171,820
      9,014 SF

      Dollar General Net Lease Investment

      Net lease retail investment opportunity leased to Dollar General.
      1324 Burkemont Ave, Morganton, NC 28655
      View Details
    • $2,900,000

      Turn-Key Venue with Mountain Views

      Established venue or luxury estate conversion with panoramic mountain views.
      6572 Burkemont Rd, Morganton, NC 28655
      View Details
    • $2,900,000

      Turn-Key Venue with Mountain Views

      Established venue or luxury estate conversion opportunity with panoramic mountain views.
      6572 Burkemont Rd, Morganton, NC 28655
      View Details
    • $2,900,000
      4,790 SF

      Turn-Key Venue with Mountain Views

      Established venue or luxury estate with panoramic mountain views.
      6572 Burkemont Rd, Morganton, NC 28655
      View Details
    • $599,900
      4,640 SF

      Turnkey Restaurant in Historic Building

      Fully equipped restaurant in Glen Alpine's historic 1902 building.
      102 Linville St, Morganton, NC 28655
      View Details
    • $399,900
      4,980 SF

      Spacious Commercial Building in Downtown Drexel

      Well-maintained, one-level brick building with ample parking near I-40.
      304 South Main St, Morganton, NC 28655
      View Details
    • Contact for pricing
      12,888 SF

      Morganton Flex Space with Warehouse

      12,888 SF flex space with office and warehouse.
      315 Burke Dr, Morganton, NC 28655
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Cleared waterfront lot with dock in East Shores community.
    Where is this residential land & home lot located?
    The property is located at 2076 Waterford Way Morganton, NC.
    What is the asking price?
    The asking price for this property is $295,000.
    What are key features of this property?
    This property features: - Waterfront property with covered aluminum boat dock already in place.; - Located in a private community on Lake James.; - Cleared lot ready for building.
    (828) 584-9999
    Request Owner's contact information
    2076 Waterford Way Morganton, NC 28655
    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.
    2076 Waterford Way
    Morganton, NC 28655
    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
    2076 Waterford Way Morganton, NC 28655
    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
    Polly Leadbetter
    Polly Leadbetter
    Real Estate License ID: 210179
    (828) 584-9999
    Learn more
    Google sign-in failed. Please try again or use another login method.