Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Nebo, NC Land Opportunity Title is generated by Realmo AI

    316 Pilot Ridge Road, Nebo, NC 28761

    View on Map
    Claim this Listing
    For Sale
    $89,774

    LAND - Nebo, NC

    Lot size:
    3.77 Acres
    Added:
    May 16, 2021
    Days on Market:
    1848
    Last Refresh:
    Jun 6 at 1:06 am

    Property Features for 316 Pilot Ridge Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    RES
    Standard status
    Active
    APN
    1658-00-47-2864
    Lot size
    3.77 Acres

    Taxes and HOA fees

    Tax Description
    LOT 11 PILOT RIDGE Act No: 59634

    Utilities

    Sewer type
    Septic Needed
    Water source
    Well Needed

    We can help!

    Listing Contact
    Paulo Benedeti

    Listing agent Paulo Benedeti License #103382

    Listing office Coldwell Banker Newton RE 203 E Union Street, Mortganton, NC

    Listing date May 16, 2021

    MLS# 3732674 Listing URL

    Copyright © 2026 Canopy 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

    • Large 3.71‑acre lot offering privacy and residential possibilities.
    • Convenient location: Minutes from Lake James, Marion & Morganton; Accessible to Asheville, Hickory, Shelby, Boone, Tryon and Charlotte's Airport.
    • Enjoy boating, fishing, and water skiing on Lake James; Mountain biking, hiking, and waterfalls are also nearby.
    • Potential for wooded and mountain views from the lot.
    • Existing community with established homes, including a master gardener and hobby farm.
    • Well water source available.

    Overview

    This 3.77-acre lot is located in Pilot Ridge and offers residential possibilities with privacy, farming potential, and views. The development includes three homes, with residents engaged in gardening and raising animals. The lot offers potential wooded and mountain views. It is located near Lake James, Marion, and Morganton, and within an hour's drive of Asheville, Hickory, Shelby, Boone, Tryon, and Charlotte's airport. The area offers opportunities for boating, fishing, water skiing at Lake James, mountain biking, motorcycle riding, snow skiing, hiking, and exploring waterfalls, wineries, and breweries.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Nursing Home

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

    Location Insight

    • Map
    • Local Demand
    City
    Nebo
    County
    McDowell
    State
    North Carolina
    Longitude
    -81.8457984
    Latitude
    35.6067446

    Nearby Similar for Sale

    • $849,000

      Waterfront Homesite with Existing Retreat

      Build on a Lake James waterfront lot with an installed septic system, deeded boat slip, and a furnished retreat ready now.
      159 Osprey Roost Drive, Nebo, NC 28761
      View Details
    • $575,000

      Gently Sloped Waterfront Land Lot

      Waterfront lot in a gated community with a flat path to the lake and open water views.
      25 Linville View Drive 8, Nebo, NC 28761
      View Details
    • $725,000

      Lake James Waterfront Land

      Waterfront land on Lake James with dock and gazebo.
      2361 Lake Forest Cove, Nebo, NC 28761
      View Details
    • $1,699,000

      Nebo, NC Farm Land

      145+/- acre farm with agricultural infrastructure in place.
      9999 Walker Road, Nebo, NC 28761
      View Details
    • $2,100,000

      Lake James Waterfront Compound Homesite

      Rare 6-acre waterfront lot with dock on Lake James.
      179 Turtle Head Drive, Nebo, NC 28761
      View Details
    • $99,000

      Lake James Waterfront Homesite

      Homesite with Lake James access, perfect for outdoor enthusiasts.
      2 Lentz Landing Lane, Nebo, NC 28761
      View Details
    • $100,000

      Nebo, NC Homesite Opportunity

      4.95-acre homesite in Grandview Peaks gated community.
      Osprey Lane, Nebo, NC 28761
      View Details
    • $30,999

      Nebo, NC Land For Sale

      Residential land with mountain and water views in Nebo, NC.
      265 Harborside Drive, Nebo, NC 28761
      View Details
    • $279,000

      Nebo, NC Homesite with Boat Slip

      Private 4.34-acre homesite with deeded boat slip on Lake James.
      146 Bream Flats Drive, Nebo, NC 28761
      View Details
    • $235,000

      Waterfront Land in Gated Community

      Waterfront parcel in The Peninsula at Lake James.
      32 Clear View Way, Nebo, NC 28761
      View Details
    • $110,000

      Nebo, NC Vacant Land Parcel

      1.84-acre vacant land with utilities in place.
      57 Hazel Drive, Nebo, NC 28761
      View Details
    • $825,000

      Waterfront Lot with Mountain Views

      3-acre waterfront lot with lake and mountain views.
      West Point Drive, Nebo, NC 28761
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 3.77 acres of residential land with mountain view potential.
    Where is this residential land & home lot located?
    The property is located at 316 Pilot Ridge Road Nebo, NC.
    What is the asking price?
    The asking price for this property is $89,774.
    What are key features of this property?
    This property features: Large 3.71‑acre lot offering privacy and residential possibilities.; Convenient location: Minutes from Lake James, Marion & Morganton; Accessible to Asheville, Hickory, Shelby, Boone, Tryon and Charlotte's Airport.; Enjoy boating, fishing, and water skiing on Lake James; Mountain biking, hiking, and waterfalls are also nearby.
    (828) 559-9562
    We can help!
    Listing Contact
    Paulo Benedeti
    Real Estate License ID: 103382
    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

    Thank You for Inquiry
    316 Pilot Ridge Road, Nebo, NC 28761
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!