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

    2364 Swan Island Road Corolla, NC 27927

    View on Map
    For Sale
    $65,000

    Residential - Corolla, NC

    Lot size:
    14,375.00 Acres
    Added:
    Jul 25, 2025
    Days on Market:
    256
    Last Refresh:
    Apr 6 at 11:06 pm

    Property Features for 2364 Swan Island Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    14,375.00 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    158.72

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Jean-Paul Peron
    Jean-Paul Peron

    Listing agent Jean-Paul Peron License #261870

    Listing office EXP Realty, LLC - Coastal 1213 Culbreth Dr, Charlotte, NC

    Listing date Jul 25, 2025

    MLS# 130005 Listing URL

    Copyright © 2026 Outer Banks Association of Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Carova Beach Residential Homesite Opportunity

    Located approximately half a mile from both False Cape State Park and the Atlantic Ocean, this homesite on Swan Island Rd in Carova Beach offers an opportunity to build a beach cottage. The 1/3-acre lot is situated in a residential community, removed from commercial activity. The area offers opportunities for kayaking, and access to Carova Beach Park and the trails of False Cape State Park. Two adjacent lots to the north are also available for sale, including a middle parcel that has been cleared and equipped with a 4-bedroom septic system. This provides the option to own an entire acre. The property is located in Corolla, North Carolina.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Hotel & Motel Bed & Breakfast Catering Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Corolla
    County
    Currituck
    State
    North Carolina
    Longitude
    -75.874276
    Latitude
    36.5433441

    Nearby Similar for Sale

    • $69,000

      Carova Beach Vacant Land Homesite

      Semi soundfront lot in the northern 4x4 area.
      2206 Teal Rd, Corolla, NC 27927
      View Details
    • $62,500

      Coastal Homesite Near False Cape Park

      1/3 acre homesite in peaceful Carova Beach setting.
      2368 Swan Island Road, Corolla, NC 27927
      View Details
    • $69,000

      Land in North Swan Beach

      Homesite in a quiet, residential 4x4 community.
      2021 Sea Gull Road, Corolla, NC 27927
      View Details
    • $99,999

      Vacant Lot in Carova

      Untouched Outer Banks paradise in the desirable 4x4 area.
      1654 Midland Road E lot: 22, Corolla, NC 27927
      View Details
    • $349,000

      Oceanside Building Lot in Corolla

      Residential building lot with community amenities and beach access.
      972 N Harbor View, Corolla, NC 27927
      View Details
    • $175,000

      Canalfront Homesite in Carova Beach

      0.38-acre canalfront homesite in Carova Beach, Corolla, NC.
      2226 Sailfish Road, Corolla, NC 27927
      View Details
    • $69,000

      North Swan Beach Homesite

      15,000 sq ft homesite in quiet, residential area.
      2021 Sea Gull Road, Corolla, NC 27927
      View Details
    • $399,000

      Soundfront Homesite in Gated Community

      Large corner lot in Currituck Club with sunset and golf views.
      744 Dotties Walk, Corolla, NC 27927
      View Details
    • $69,000

      Carova Beach Homesite Opportunity

      Secluded Carova Beach homesite with sound and ocean access.
      2206 Teal Road, Corolla, NC 27927
      View Details
    • $62,500

      Carova Beach Homesite Opportunity

      Homesite near False Cape State Park, a quiet coastal setting.
      2368 Swan Island Road, Corolla, NC 27927
      View Details
    • $370,000

      Semi-Oceanfront Land in Corolla, NC

      Dream homesite in Corolla's 4x4 area, near the beach.
      1671 Sandpiper Road, Corolla, NC 27927
      View Details
    • $275,000

      Semi-Oceanfront Lot in Carova Beach

      Desirable homesite with exceptional views and unmatched coastal living.
      2166 Sandfiddler Road, Corolla, NC 27927
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Prime 1/3 acre lot near False Cape State Park.
    Where is this residential land & home lot located?
    The property is located at 2364 Swan Island Road Corolla, NC.
    What is the asking price?
    The asking price for this property is $65,000.
    What are key features of this property?
    This property features: Prime 1/3‑acre homesite in the 4‑wheel drive area of Carova Beach, offering the opportunity to build a dream beach cottage.; Located just half a mile from both False Cape State Park and the Atlantic Ocean.; Located in a 100% residential community, ensuring peace and quiet.
    (252) 564-9390
    We can help!
    Listing Contact
    Jean-Paul Peron
    Jean-Paul Peron
    Real Estate License ID: 261870
    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!