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    450 Swamp Road Pantego, NC 27860

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    Claim this Listing
    For Sale
    Under Contract
    $75,000

    LAND - Pantego, NC

    Lot size:
    7.00 Acres
    Added:
    Nov 11, 2025
    Days on Market:
    158
    Last Refresh:
    Apr 18 at 9:06 am

    Property Features for 450 Swamp Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Res
    Standard status
    Active Under Contract
    APN
    31448
    Lot size
    7.00 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    See attached deeds for Metes and bounds legal description.
    Tax Annual Amount
    202

    Utilities

    Utilities
    Water Available
    Sewer type
    Septic Tank
    Water source
    Public
    Water front features
    Waterfront
    Water front
    1

    We can help!

    Listing Contact
    Gary Foote
    Gary Foote

    Listing agent Gary Foote License #336685

    Listing office Berkshire Hathaway HomeServices Prime Properties 2625 CHARLES BOULEVARD, Greenville, NC

    Listing date Nov 11, 2025

    MLS# 100540854 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

    7-Acre Waterfront Land in Pantego

    This approximately 7-acre lot, a combination of two parcels, is located just outside Pantego, North Carolina, near Belhaven. It features around 200 feet of waterfront on the Pantego Canal, which is off Pungo Creek. The property includes a portion of quiet woods inhabited by deer and turkeys, as well as 6 acres of active cropland. Situated on some of the highest elevation ground in the area, only a small portion at the back of the property is within the floodplain. The land is suitable for developing a new family homestead and producing food, with room to grow more for sale. An old home and shed on the property are included at no value. A septic permit is being applied for.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Agricultural land / Farmland

    Suggested Use

    Spa & Massage Center Hair Salon Nail Salon Car Rental Facility Nursing Home Nursing Home

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

    Location Insight

    • Map
    • Local Demand
    City
    Pantego
    County
    Beaufort
    State
    North Carolina
    Longitude
    -76.67373
    Latitude
    35.59054

    Nearby Similar for Sale

    • $30,000

      Remote Lot in Pantego, NC

      Secluded 1.7-acre lot with well and septic system.
      894 Swamp Road, Pantego, NC 27860
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    • $221,000

      26 Acres Farmland and Impoundment

      26 acres with farmland, duck impoundment, and road frontage.
      26 Ac Nc 99, Pantego, NC 27860
      View Details
    • $298,000

      Farmland with Highway Frontage

      47 acres of farmland with road frontage on Hwy 45.
      Nc 99, Pantego, NC 27860
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    • $395,000
      1,812 SF

      Thriving Country Store on Corner

      Established country store with grill on corner lot for sale.
      6888 Nc Highway 99 N, Pantego, NC
      View Details

    FAQs

    What type of property is this?
    Agricultural land / Farmland - 7-acre Pantego land with waterfront, cropland, and wooded area.
    Where is this agricultural land / farmland located?
    The property is located at 450 Swamp Road Pantego, NC.
    What is the asking price?
    The asking price for this property is $75,000.
    What are key features of this property?
    This property features: 7 +/- acre lot with waterfront on the Pantego Canal (off Pungo Creek).; Combination of two parcels with approximately 200 feet of waterfront.; Located on some of the highest elevation ground in the area; only a small portion at the back is within the floodplain.
    (252) 245-0425
    We can help!
    Listing Contact
    Gary Foote
    Gary Foote
    Real Estate License ID: 336685
    Learn More
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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.

    More about this property
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