Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    433 Lockhard Circle Troutman, NC 28166

    View on Map
    For Sale
    Under Contract
    $659,999

    LAND - Troutman, NC

    Lot size:
    8.01 Acres
    Added:
    Nov 11, 2025
    Days on Market:
    142
    Last Refresh:
    Apr 2 at 7:06 am

    Property Features for 433 Lockhard Circle

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    RA
    Standard status
    Active Under Contract
    APN
    4730-23-2537.000
    Lot size
    8.01 Acres

    Taxes and HOA fees

    TaxDescription
    L2 JEFFREY W STULL & JANICE L STULL PB73-92

    Utilities

    Sewer type
    Private Sewer

    We can help!

    Listing Contact
    Eric Governale

    Listing agent Eric Governale License #240609

    Listing office Governale Realty 121 Fox Hunt Dr., Mooresville, NC

    Listing date Nov 11, 2025

    MLS# 4321122

    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.

    Overview

    Cleared Land in Troutman, NC

    This 8.01-acre property in Troutman, Iredell County, North Carolina, has been evaluated for soil conditions suitable for septic systems, with a soil report available. The evaluation suggests the land could accommodate 6 to 8 homes. The property is cleared, offering cost savings, and features favorable topography suitable for a private estate or development. It is subject to county taxes, with the option to obtain Troutman water.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Big Box & Wholesale Store Kitchen & Bath Showroom HVAC Service Electrical Service Bed & Breakfast Restaurant

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

    Location Insight

    • Map
    • Local Demand
    City
    Troutman
    County
    Iredell
    State
    North Carolina
    Longitude
    -80.9086222
    Latitude
    35.6620758

    Nearby Similar for Sale

    • $699,000

      Waterfront Land on Lake Norman

      1.2-acre waterfront property with utilities and boat dock on Lake Norman.
      175 Abington Lane, Troutman, NC 28166
      View Details
    • $2,290,000

      Troutman Land Near County Facilities

      Almost 6 acres in Troutman near rec center and fairgrounds.
      694 N Main Street, Troutman, NC 28166
      View Details
    • $850,000

      Lake Norman Waterfront Homesite Opportunity

      Rare 0.75-acre waterfront homesite on Lake Norman's main channel.
      168 Willow Point Road, Troutman, NC 28166
      View Details
    • $7,500,000

      Troutman Land Subdivision Opportunity

      Exclusive gated community development opportunity in Troutman, North Carolina.
      228 Fern Hill Road, Troutman, NC 28166
      View Details
    • $50,000

      Wooded Land Near Charlotte

      1.5 acre wooded lot near Charlotte and Lake Norman.
      Carlyle Road, Troutman, NC 28166
      View Details
    • $35,000

      2.78 Acre Wooded Land Parcel

      Secluded 2.78 acre wooded lot near Troutman and Mooresville.
      Carlyle Road, Troutman, NC 28166
      View Details
    • $30,000

      Residential Lot Near Lake Norman

      0.53 acre residential lot near Lake Norman State Park.
      Spring Oaks Drive, Troutman, NC 28166
      View Details
    • $1,750,000

      Lake Norman Waterfront Lot

      Rare 0.95-acre lot with covered dock and water views.
      155 Eagle Chase Lane, Troutman, NC 28166
      View Details
    • $1,900,000

      Prime Land with I-77 Frontage

      Level land with significant road and I-77 frontage.
      351 Flowerhouse Lp, Troutman, NC 28166
      View Details
    • $92,000

      Commercial Land in Troutman

      Land for sale in Troutman, water and sewer available.
      143 New Street, Troutman, NC 28166
      View Details
    • $200,000

      Land in Troutman, North Carolina

      2.84 acres of wooded land bordering ESC park.
      Bradburn Street, Troutman, NC 28166
      View Details
    • $1,500,000

      Prime Land in Growing Troutman

      18-acre parcel in Troutman, NC, ideal for development.
      Murdock Road, Troutman, NC 28166
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 8.01 acres of cleared land suitable for development.
    Where is this residential land & home lot located?
    The property is located at 433 Lockhard Circle Troutman, NC.
    What is the asking price?
    The asking price for this property is $659,999.
    What are key features of this property?
    This property features: Suitable for development of 6‑8 homes, with soil report available.; Cleared land offering immediate cost savings.; Beautiful property in Troutman/Iredell County.
    (704) 528-1316
    We can help!
    Listing Contact
    Eric Governale
    Real Estate License ID: 240609
    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!