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

    40 Chestertown Drive lot 1048 Pinehurst, NC 28374

    View on Map
    For Sale
    $475,000

    LAND - Pinehurst, NC

    Lot size:
    1.82 Acres
    Added:
    Dec 5, 2025
    Days on Market:
    117
    Last Refresh:
    Apr 1 at 1:06 pm

    Property Features for 40 Chestertown Drive lot 1048

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    RS-3
    Standard status
    Active
    APN
    98000932
    Lot size
    1.82 Acres

    Taxes and HOA fees

    TaxYear
    2024
    TaxDescription
    FOREST CREEK LOT 1048 SEC 10 PIN 857307697633 PID 98000932
    TaxAnnualAmount
    542

    We can help!

    Listing Contact
    Craig Dunlop

    Listing agent Craig Dunlop License #267147

    Listing office Berkshire Hathaway HS Pinehurst Realty Group/PH 42 Chinquapin Rd, Southern Pines, NC

    Listing date Dec 5, 2025

    MLS# 100544262 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

    Forest Creek Golf Club Land

    This is a 1.82-acre lot located in Forest Creek Golf Club. The property offers 531 feet of road frontage. This private property provides ample space for construction. The property includes some wetlands, which contribute to the overall privacy, but also features over an acre suitable for building a home. The property is located in Pinehurst, North Carolina.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Pharmacy Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Pinehurst
    County
    Moore
    State
    North Carolina
    Longitude
    -79.407748
    Latitude
    35.231397

    Nearby Similar for Sale

    • $3,500,000
      5,227 SF

      Turnkey Restaurant Building in Pinehurst

      Fully renovated commercial building ideal for restaurant or hospitality concept.
      38 Chinquapin Road, Pinehurst, NC 28374
      View Details
    • $739,000

      Pinewild Lakefront Homesite Opportunity

      Rare 0.95-acre lakefront homesite in Pinewild Country Club.
      13 Abington Drive, Pinehurst, NC 28374
      View Details
    • $739,000

      Lakefront Homesite in Pinewild

      Rare 0.95-acre lakefront property in Pinewild Country Club.
      13 Abington Drive lot: 1002, Pinehurst, NC 28374
      View Details
    • $950,000

      CCNC Estate Homesite Opportunity

      Rare 10+ acre homesite in prestigious gated community.
      825 Lake Dornoch Drive, Pinehurst, NC 28374
      View Details
    • $495,000

      Golf Front Home Lot

      Residential land with golf course views in Pinehurst, North Carolina.
      11 Wicker Sham Court W lot: 1631, Pinehurst, NC 28374
      View Details
    • $425,000

      Pinehurst Golf View Homesite

      Premier homesite with golf and water views in Pinehurst.
      65 Westlake Road lot: 322, Pinehurst, NC 28374
      View Details
    • $335,000

      Pinehurst Golf Club Home Lot

      Residential lot in Forest Creek Golf Club, Pinehurst, NC.
      11 Cumberland Drive lot: 801, Pinehurst, NC 28374
      View Details
    • $87,000

      Pinehurst Buildable Lot For Sale

      Prime .37-acre lot in desirable Pinehurst community.
      95 Bridle Path Circle, Pinehurst, NC 28374
      View Details
    • $445,000

      Forest Creek Oversized Corner Lot

      2.3 acre corner lot in Forest Creek, Pinehurst, NC.
      212 Meyer Farm Drive lot: 920, Pinehurst, NC 28374
      View Details
    • $575,000

      Golf Front Lot in Pinehurst

      Almost one acre golf front lot in gated community.
      69 Chestertown Drive lot: 1035, Pinehurst, NC 28374
      View Details
    • $559,000

      Golf Front Home Site Land

      Level, partially cleared homesite in gated golf community.
      63 Chestertown Drive, Pinehurst, NC 28374
      View Details
    • $275,000

      Prime Homesite in Forest Creek

      Desirable homesite in a premier golf community.
      2 Kenilwood Court, Pinehurst, NC 28374
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Rare 1.82 acre lot in Forest Creek Golf Club.
    Where is this residential land & home lot located?
    The property is located at 40 Chestertown Drive lot 1048 Pinehurst, NC.
    What is the asking price?
    The asking price for this property is $475,000.
    What are key features of this property?
    This property features: 1.82 acre lot in prestigious Forest Creek Golf Club; Very private property with lots of space to build; Over one acre of great building parcel
    (910) 528-1008
    We can help!
    Listing Contact
    Craig Dunlop
    Real Estate License ID: 267147
    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!