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    Wooded Lot in Rutledge Community Title is generated by Realmo AI

    2961 Old Berwick Street SW, Shallotte, NC 28470

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    For Sale
    $49,000

    LAND - Shallotte, NC

    Lot size:
    0.32 Acres
    Added:
    Jan 26, 2026
    Days on Market:
    128
    Last Refresh:
    Jun 3 at 8:06 pm

    Property Features for 2961 Old Berwick Street SW

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Co-Sbr-6000
    Standard status
    Active
    APN
    214cj009
    Lot size
    0.32 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    L-106 S-1 RUTLEDGE PLAT 36/493
    Tax Annual Amount
    102

    Utilities

    Utilities
    Water Available
    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Ralph M Harvey

    Listing agent Ralph M Harvey License #304715

    Listing office ListWithFreedom.com 8908 Briarwood Meadow Lane, Boynton Beach, NC

    Listing date Jan 26, 2026

    MLS# 100551375 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.

    HighLights

    • Wooded 0.322‑acre lot in Rutledge community offering privacy and natural beauty.
    • Rutledge community AMENITIES INCLUDE a clubhouse, outdoor pool, fitness center, tennis/pickleball courts, walking trails, and lakefront esplanade.
    • Conveniently located minutes from downtown Shallotte, shopping, dining, medical facilities, and Holden Beach/Ocean Isle Beach.
    • Municipal water available.
    • Option to preserve mature trees for added privacy and a serene setting.
    • Adjoining lot also available, offering opportunity to expand homesite.

    Overview

    This 0.322-acre wooded lot is located at 2961 Old Berwick Road, offering privacy and natural beauty within the Rutledge community. The lot has not been cleared, allowing future owners the option to preserve mature trees for added privacy, shade, and a serene setting. Rutledge amenities include a community clubhouse, outdoor pool, fitness center, tennis and pickleball courts, walking trails, and a scenic lakefront esplanade. Municipal water is available. The property is zoned Co-Sbr-6000. Conveniently located just minutes from downtown Shallotte, it provides easy access to shopping, dining, medical facilities, and the beaches of Holden Beach and Ocean Isle Beach. Wilmington, NC and Myrtle Beach, SC are each less than an hour away, with nearby airports at ILM and MYR. The adjoining lot at 2957 Old Berwick Road is also available, offering an opportunity to expand your homesite or increase privacy.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Garden Center Electrical Service Tech Support Center Locksmith

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

    Location Insight

    • Map
    • Local Demand
    City
    Shallotte
    County
    Brunswick
    State
    North Carolina
    Longitude
    -78.353682
    Latitude
    33.95463

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    FAQs

    What type of property is this?
    Residential land & home lot - 0.32-acre wooded lot with community amenities near Shallotte, NC.
    Where is this residential land & home lot located?
    The property is located at 2961 Old Berwick Street SW Shallotte, NC.
    What is the asking price?
    The asking price for this property is $49,000.
    What are key features of this property?
    This property features: Wooded 0.322‑acre lot in Rutledge community offering privacy and natural beauty.; Rutledge community AMENITIES INCLUDE a clubhouse, outdoor pool, fitness center, tennis/pickleball courts, walking trails, and lakefront esplanade.; Conveniently located minutes from downtown Shallotte, shopping, dining, medical facilities, and Holden Beach/Ocean Isle Beach.
    (855) 456-4945
    We can help!
    Listing Contact
    Ralph M Harvey
    Real Estate License ID: 304715
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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.

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