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

    21 Joy Hughes Lane Leicester, NC 28748

    View on Map
    For Sale
    $299,990

    Vacant Land - Leicester, NC

    Lot size:
    5.04 Acres
    Added:
    Aug 8, 2025
    Days on Market:
    237
    Last Refresh:
    Apr 1 at 6:06 pm

    Property Features for 21 Joy Hughes Lane

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    100
    Parking features
    Garage
    Standard status
    Active
    APN
    970361750400000
    Lot size
    5.04 Acres

    Taxes and HOA fees

    TaxYear
    2024
    TaxAnnualAmount
    528

    Utilities

    Water front features
    Waterfront
    Water front
    1

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Kimberly Clark
    Kimberly Clark

    Listing agent Kimberly Clark

    Listing office The Home Place Realty 2311 Worley Cove Road, Canton, NC

    Listing date Aug 8, 2025

    MLS# 11551593 Listing URL

    Copyright © 2026 My State 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

    Leicester Vacant Land with Fencing

    This 5.04-acre vacant land parcel, located in Leicester, NC, is fully fenced for horses and features a pole barn with electricity. A stream runs through the property, which offers views and easy access. The site includes a septic system and well. A house pad is in place on a knoll. The property is located minutes from Asheville, Weaverville, Leicester, and Haywood County. The view is protected by facing land being in trust to protect from development. Included is a like-new 2021 Crossroads Park Model camper, 41 feet in length with three slides, along with a spacious outbuilding.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Agricultural land / Farmland

    Suggested Use

    Hotel & Motel Accounting Firm Plumbing Service Bed & Breakfast Nursing Home Nursing Home

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

    Location Insight

    • Map
    • Local Demand
    City
    Leicester
    County
    Buncombe
    State
    North Carolina
    Longitude
    -82.6834234
    Latitude
    35.7043197

    Nearby Similar for Sale

    • $620,000

      Leicester Land with Mountain Views

      28-acre Leicester property with mountain views and open use zoning.
      99999 Green Valley Road, Leicester, NC 28748
      View Details
    • $425,000

      Land with Existing Well/Septic

      38-acre Leicester land with well, septic, and electricity.
      9999 Hidden Cove Road, Leicester, NC 28748
      View Details
    • $69,000

      Land in Gated Community

      1.6-acre lot with utilities in Blue Mist Farms.
      80 View Ridge Parkway, Leicester, NC 28748
      View Details
    • $750,000

      Leicester, NC Land For Sale

      47.6 acres of land near Asheville, NC.
      99999 Martin Branch Road, Leicester, NC 28748
      View Details
    • $299,999

      Unrestricted Land Near Asheville

      26.84 acres of wooded, unrestricted land close to Asheville.
      9999 Sealey Lane, Leicester, NC 28748
      View Details
    • $50,000

      Residential Land in Leicester, NC

      Partly clear 1.1 acre lot ready for new home.
      36 Country Cove Court unit: 6, Leicester, NC 28748
      View Details
    • $89,000

      Leicester Land with Septic System

      1.18 acre lot with installed septic system near Asheville.
      52 Goughes Branch Road, Leicester, NC 28748
      View Details
    • $99,000

      Land in Gated Mountain Community

      4.69-acre homesite with mountain views, well, and septic.
      Rock Ridge Road unit: 9A & 9B, Leicester, NC 28748
      View Details
    • $799,000

      Leicester Land with Mountain Views

      65+ acres in Leicester with long-range mountain views.
      99999 Hookers Gap Road, Leicester, NC 28748
      View Details
    • $996,300

      Unrestricted Land in Leicester, NC

      41 acres of unrestricted land in Leicester, minutes from Asheville.
      411 Big Sandy Mush Road, Leicester, NC 28748
      View Details
    • $146,500

      Leicester, NC Land with Views

      2.015 acre homesite with mountain views near Asheville.
      Whisper Mountain Drive lot: 69, Leicester, NC 28748
      View Details
    • $73,000

      Leicester Land in Gated Community

      1.51-acre corner lot ready for custom mountain retreat.
      9999 Talking Rock Lane, Leicester, NC 28748
      View Details

    FAQs

    What type of property is this?
    Agricultural land / Farmland - 5.04 acres of fenced land with utilities and camper.
    Where is this agricultural land / farmland located?
    The property is located at 21 Joy Hughes Lane Leicester, NC.
    What is the asking price?
    The asking price for this property is $299,990.
    What are key features of this property?
    This property features: Unreal views protected from development.; Fully fenced for horses with a stream.; Pole barn with electricity.
    (828) 400-6630
    We can help!
    Listing Contact
    Kimberly Clark
    Kimberly Clark
    Learn More
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!