Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Highway Frontage Land For Sale Title is generated by Realmo AI

    4812 Highway 24, Newport, NC 28570

    View on Map
    Claim this Listing
    For Sale
    Under Contract
    $374,000

    LAND - Newport, NC

    Lot size:
    1.81 Acres
    Added:
    Oct 24, 2024
    Days on Market:
    576
    Last Refresh:
    May 22 at 5:06 am

    Property Features for 4812 Highway 24

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    RM15
    Standard status
    Active Under Contract
    APN
    539504638830000
    Lot size
    1.81 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Description
    Tract 2 John L Russell Land
    Tax Annual Amount
    316

    Utilities

    Sewer type
    Septic Tank
    Water source
    Well

    We can help!

    Listing Contact
    Tania M Higgins

    Listing agent Tania M Higgins License #101677

    Listing office Big Rock Real Estate & Property Management 1440-B Salter Path Road, Indian Beach, NC

    Listing date Oct 24, 2024

    MLS# 100472955 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

    • 1.81 acre property with Highway 24 road frontage.
    • Zoned residential RM15.
    • Carteret Craven Electric and Western Carteret Water already on site.
    • Existing 3 bedroom septic system installed.
    • Old well on site.
    • Potential billboard income producing lease and telephone utility lease.

    Overview

    This 1.81-acre property features frontage on Highway 24. Zoned residential RM15, the site has existing infrastructure, including Carteret Craven Electric and Western Carteret Water. An old well and a 3-bedroom septic system are already installed. The property offers potential and a favorable location. Additional information is available regarding a billboard income-producing lease and a telephone utility lease. The property is located in Newport, North Carolina.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Auto Repair Shop Hotel & Motel Gym & Fitness Center Auto Parts Store Department Store Storage Facility Electrical Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Newport
    County
    Carteret
    State
    North Carolina
    Longitude
    -77.013745
    Latitude
    34.705878

    Nearby Similar for Sale

    • $575,000
      3,964 SF

      Updated Multifamily Property in Newport

      Four updated units near downtown Newport, ideal for investors.
      101 & 301 Johns Way, Newport, NC 28570
      View Details
    • $325,000

      Versatile Land in Mill Creek

      8 acres with no zoning, ideal for various uses.
      3115 Mill Creek Road, Newport, NC 28570
      View Details
    • $950,000

      Coastal Land Near Intracoastal Waterway

      7.5 acres near Morehead City, perfect for coastal retreat.
      385 Old Swansboro Road, Newport, NC 28570
      View Details
    • $325,000

      Waterfront Lot in Bogue Watch

      0.85-acre waterfront lot with Bogue Sound views and community amenities.
      506 Lanyard Drive lot: 236, Newport, NC 28570
      View Details
    • $135,000

      Waterview Homesite in Bogue Watch

      0.72 acre waterview homesite in a gated community.
      662 Fishermans Point, Newport, NC 28570
      View Details
    • $130,000

      Land in Cannonsgate Community

      Cleared lot with pond and potential ICW views.
      242 Colleton Square, Newport, NC 28570
      View Details
    • $100,000

      Waterfront Lot in Cannonsgate, Newport

      Creek/marsh-front lot in Cannonsgate. Build your coastal dream home.
      607 Cannonsgate Drive lot: 395, Newport, NC 28570
      View Details
    • $175,000

      Waterway Access Community Land

      Pond-front lot in gated community with many amenities.
      646 Cannonsgate Drive lot: 368, Newport, NC 28570
      View Details
    • $225,000

      Versatile Land in Mill Creek

      3-acre property with commercial building and agricultural amenities.
      3115 Mill Creek Road, Newport, NC 28570
      View Details
    • $350,000

      Cleared Land on Highway 70

      1.37 acres of commercial land with high visibility.
      7648 Us Hwy 70, Newport, NC 28570
      View Details
    • $350,000

      Highway Commercial Development Opportunity

      1.02-acre commercial lot ready for development near future I-42.
      313 Roberts Road, Newport, NC 28570
      View Details
    • $110,000

      Marshfront Homesite in Cannonsgate Community

      Cleared homesite with marsh views and community amenities.
      647 Cannonsgate Drive, Newport, NC 28570
      View Details

    FAQs

    What type of property is this?
    Commercial land - 1.81 acre Highway 24 road frontage property for sale.
    Where is this commercial land located?
    The property is located at 4812 Highway 24 Newport, NC.
    What is the asking price?
    The asking price for this property is $374,000.
    What are key features of this property?
    This property features: 1.81 acre property with Highway 24 road frontage.; Zoned residential RM15.; Carteret Craven Electric and Western Carteret Water already on site.
    (919) 749-5374
    We can help!
    Listing Contact
    Tania M Higgins
    Real Estate License ID: 101677
    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

    Thank You for Inquiry
    4812 Highway 24, Newport, NC 28570
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!