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    Leland Land with Development Potential Title is generated by Realmo AI

    375 Wolfridge Road NE, Leland, NC 28451

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    Claim this Listing
    For Sale
    $550,000

    LAND - Leland, NC

    Lot size:
    3.26 Acres
    Added:
    Apr 11, 2026
    Days on Market:
    48
    Last Refresh:
    May 28 at 1:06 am

    Property Features for 375 Wolfridge Road NE

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    CO-RR
    Standard status
    Active
    APN
    04600023
    Lot size
    3.26 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    L-1A 3.26 AC EDDIE BRYANT SR ESTATE PL-167/36
    Tax Annual Amount
    98

    We can help!

    Listing Contact
    Jonathan Jozak
    Jonathan Jozak

    Listing agent Jonathan Jozak License #317389

    Listing office PROACTIVE Real Estate 3369 Holden Beach Rd, Holden Beach, NC

    Listing date Apr 11, 2026

    MLS# 100566543 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

    • 3.261‑acre property in Hidden Creek Estate, offering privacy and city proximity.
    • Potential to subdivide into 3 lots, each pre‑approved for up to a 4‑bedroom septic system.
    • Located less than 5 minutes from Brunswick Forest and under 15 minutes from Downtown Wilmington.
    • Features 400 ft of creek frontage, towering trees, and high elevation uplands.
    • Includes a well with a high‑capacity (45 gallon per minute) submersible pump.
    • Equipped with underground Brunswick electric lines and an 18‑foot‑wide epoxy‑sealed asphalt road.

    Overview

    Located within Hidden Creek Estate, this 3.261-acre tract offers privacy and proximity to the city. The property, identified as tract 375, features 400 ft of creek frontage, mature trees, and elevated uplands, secured by a gated entrance in Leland. The land can be maintained as a single tract or divided into three potential lots, all pre-approved for up to a 4-bedroom septic system. Brunswick electric has installed underground lines throughout the property to service all potential lots, with a total of six power poles within Hidden Creek Estate. A well is present on the property, equipped with a 5 horsepower, 45 gallon per minute Franklin electric all stainless-steel submersible pump. A 2-inch gasket water main pipe runs along the right side of the road, with hydrants approximately every 125 feet on alternating sides. An 18-foot-wide epoxy-sealed asphalt road with a circular turnaround at the creek provides access throughout the property, complemented by SOD and landscaping along the roadside. The property is located less than 5 minutes from the main entrance of Brunswick Forest and under 15 minutes from downtown Wilmington. The land has been prepared and is located in Leland, North Carolina.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Auto Repair Shop Nail Salon Gym & Fitness Center Auto Parts Store Storage Facility Garden Center Electrical Service Electronics & Wireless Store Carpet & Flooring Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Leland
    County
    Brunswick
    State
    North Carolina
    Longitude
    -78.074442
    Latitude
    34.205425

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    FAQs

    What type of property is this?
    Residential land & home lot - 3.26-acre land in Leland, pre-approved for multiple lots.
    Where is this residential land & home lot located?
    The property is located at 375 Wolfridge Road NE Leland, NC.
    What is the asking price?
    The asking price for this property is $550,000.
    What are key features of this property?
    This property features: 3.261‑acre property in Hidden Creek Estate, offering privacy and city proximity.; Potential to subdivide into 3 lots, each pre‑approved for up to a 4‑bedroom septic system.; Located less than 5 minutes from Brunswick Forest and under 15 minutes from Downtown Wilmington.
    (910) 524-9471
    We can help!
    Listing Contact
    Jonathan Jozak
    Jonathan Jozak
    Real Estate License ID: 317389
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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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