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    461 Country Club Dr W, Unit 22 Arapahoe, NC 28510

    Sponsored
    For Sale
    $39,900

    LAND - Arapahoe, NC

    Lot size:
    0.38 Acres
    Days on Market:
    303
    Last Refresh:
    Feb 7 at 7:06 pm

    Property Features for 461 Country Club Dr W

    General Information

    Special listing conditions
    Standard
    Property type
    Land
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Zoning
    Residential
    APN
    F093-8-22
    Lot size
    0.38 Acres

    Utilities

    Utilities
    Water Available
    Water source
    Public

    We can help!

    Listing Contact
    GARY POINDEXTER
    GARY POINDEXTER

    Keller Williams Realty (252) 637-2010

    Listing agent GARY POINDEXTER (252) 637-2010 License #235349

    Listing date Apr 11, 2025

    MLS# 100500729 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.

    Learn more

    Property Insight Report

    Overview

    Golf Course Front Building Lot

    This 0.38-acre residential building lot is located on the approach shot of Green #11 of the Minnesott Beach Golf Club. The lot offers partial views of South Lake from the front and views of the green and pond in front of Hole #11's approach shot. Situated in an area 30 feet above the AE flood zone, the property does not require flood insurance. It includes a 3-bedroom septic permit valid through 2027. There are no HOA fees. Buyers have the option to join the golf club for access to an Olympic-sized pool and a boat ramp providing access to the Neuse River. Wayfarers Cove is located 5 minutes away. The Minnesott Beach Golf Course is nearby. The property is located 30 minutes from Historic New Bern, 5 minutes from the NCDOT ferry to Historic Beaufort and area beaches, 10 minutes from Oriental and area retail stores in Bayboro/Grantsboro, and 5 minutes from Arapahoe Charter School. This lot is located in an affordable coastal area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Big Box & Wholesale Store Gym & Fitness Center Kitchen & Bath Showroom

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

    Location Insight

    • Map
    • Local Demand
    City
    Arapahoe
    County
    Pamlico
    State
    North Carolina
    Longitude
    -76.817363
    Latitude
    34.979073

    Nearby Similar for Sale

    • $375,000
      12,000 SF

      Prime Arapahoe Retail Space

      12,000 SF Retail Building, 1.43 Acres
      8434 Nc 306, Arapahoe, NC 28510
      View Details

    FAQs

    What type of property is this?
    Land - Residential lot with golf course and lake views near amenities.
    Where is this land located?
    The property is located at 461 Country Club Dr W, Unit 22 Arapahoe, NC.
    What is the asking price?
    The asking price for this property is $39,900.
    What are key features of this property?
    This property features: - Golf course front lot with views of the green and pond on Hole #11; - Located 30' above AE flood zone, eliminating the need for flood insurance; - Valid 3 BR septic permit through 2027
    (252) 474-5700
    Request Owner's contact information
    461 Country Club Dr W, Unit 22 Arapahoe, NC 28510
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    Arapahoe, NC 28510
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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
    461 Country Club Dr W, Unit 22 Arapahoe, NC 28510
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    We can help!
    Listing Contact
    GARY POINDEXTER
    GARY POINDEXTER
    Real Estate License ID: 235349
    (252) 474-5700
    Learn more
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