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    249 Nelson Neck Road Sealevel, NC 28577

    View on Map
    For Sale
    Under Contract
    $119,000

    LAND - Sea Level, NC

    Lot size:
    65.24 Acres
    Added:
    Feb 24, 2026
    Days on Market:
    37
    Last Refresh:
    Apr 2 at 3:06 am

    Property Features for 249 Nelson Neck Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    unzoned
    Standard status
    Active Under Contract
    APN
    748102560195000
    Lot size
    65.24 Acres

    Taxes and HOA fees

    TaxYear
    2025
    TaxDescription
    ACREAGE & MARSH OFF SR 1373 SEA LEVEL
    TaxAnnualAmount
    93

    Utilities

    Sewer type
    Septic Tank
    Water front features
    Waterfront
    Water front
    1

    We can help!

    Listing Contact
    Penny E Smith

    Listing agent Penny E Smith License #124793

    Listing office Realty World First Coast Rlty PO BOX 2829, Beaufort, NC

    Listing date Feb 24, 2026

    MLS# 100556369 Listing URL

    Copyright © 2026 Hive 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

    Waterfront Recreation Land in Sea Level

    This 65.24-acre waterfront property offers potential for recreation and stargazing. It features 131 feet of road frontage on Nelson Neck Rd and includes a septic system installed near the road; a well will be needed. The owner is clearing some of the high ground to improve accessibility. At the rear of the lot, a canal separates the high ground from over 60 acres of natural marsh, featuring over 4200 feet of shoreline. This property is suitable for nature enthusiasts, offering opportunities to observe shellfish, crabs, waterfowl, and plant life, as well as duck hunting and fishing. Located near Cedar Creek Campground, the property is close to public and private boat ramps and boat dockage. The waterfront opens into Styron's Bay and Core Sound, and is a few miles from the Outer Banks, Cape Lookout National Seashore, and the Ophelia Inlet. Sea Level offers amenities such as a fish house, clam and oyster house, Dollar General, health clinic, post office, and pharmacy. An elementary school is located in nearby Atlantic, and a small ferry provides access to the Outer Banks. The property is currently unzoned.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Recreation land

    Suggested Use

    Restaurant Big Box & Wholesale Store Hotel & Motel Food Market Bed & Breakfast Fish Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Sealevel
    County
    Carteret
    State
    North Carolina
    Longitude
    -76.382066
    Latitude
    34.865209

    Nearby Similar for Sale

    • $289,000

      Waterfront Land with Sound Views

      5+ acre waterfront land with existing well and septic.
      210 Styron Creek Road, Sea Level, NC 28577
      View Details
    • $180,000

      Waterfront Lot on Core Sound

      0.83-acre waterfront lot with 62 feet of frontage.
      579 Nelson Neck Road, Sea Level, NC 28577
      View Details
    • $180,000

      Waterfront Land in Sea Level

      0.83-acre waterfront lot with 62 feet of frontage.
      579 Nelson Neck Road, Sea Level, NC 28577
      View Details

    FAQs

    What type of property is this?
    Recreation land - 65-acre waterfront property near Outer Banks with development potential.
    Where is this recreation land located?
    The property is located at 249 Nelson Neck Road Sealevel, NC.
    What is the asking price?
    The asking price for this property is $119,000.
    What are key features of this property?
    This property features: 65‑acre waterfront property with over 4200' of shoreline.; Potential for recreational activities such as shell fishing, crabbing, waterfowl observation, duck hunting, and fishing.; Located near Cedar Creek Campground, public/private boat ramps, and boat dockage.
    (252) 241-6985
    We can help!
    Listing Contact
    Penny E Smith
    Real Estate License ID: 124793
    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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