Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    55 Locust Court Pisgah Forest, NC 28768

    View on Map
    Claim this Listing
    For Sale
    $699,000

    LAND - Pisgah Forest, NC

    Lot size:
    32.04 Acres
    Added:
    Jul 21, 2023
    Days on Market:
    1022
    Last Refresh:
    May 7 at 6:06 pm

    Property Features for 55 Locust Court

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    9508-14-5595-000
    Lot size
    32.04 Acres

    Taxes and HOA fees

    Tax Description
    OFF DAVIDS TRACE

    Utilities

    Sewer type
    Septic Needed
    Water source
    Well Needed

    We can help!

    Listing Contact
    Michael Shoffner
    Michael Shoffner

    Listing agent Michael Shoffner License #197209

    Listing office Keller Williams Professionals 48 Grove St, asheville, NC

    Listing date Jul 21, 2023

    MLS# 4052536 Listing URL

    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.

    HighLights

    • 32 Acres only 3 miles from Pisgah Forest entrance and 6 miles to downtown Brevard.
    • Multiple potential homesites for building a dream home/estate or family compound.
    • Located in Lobdell Woods subdivision with paved roads and underground utilities.
    • Minutes from downtown Brevard, Pisgah National Forest, and Ecusta Trail Greenway.
    • Lush woodlands, meandering trails, and babbling creeks on the property.
    • Rough road and trails already cut in for access.

    Overview

    32 Acres Near Pisgah Forest

    This 32.04-acre property, located just 3 miles from the entrance to Pisgah Forest and 6 miles from downtown Brevard, offers multiple opportunities for use. The land, known as Lobdell Woods, features lush woodlands, meandering trails, and creeks. A rough road and trails have been cut in for access. The property is suitable for building a dream home or estate, or creating a family compound with multiple potential homesites. Located in Lobdell Woods subdivision, the property benefits from paved roads and underground utilities. The location provides convenient access to amenities, dining, outdoor recreation, and entertainment. The Ecusta Trail Greenway is also nearby.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Building Supply Big Box & Wholesale Store Auto Repair Shop Hotel & Motel Bed & Breakfast

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

    Location Insight

    • Map
    • Local Demand
    City
    Pisgah Forest
    County
    Transylvania
    State
    North Carolina
    Longitude
    -82.6812861
    Latitude
    35.3014634

    Nearby Similar for Sale

    • $440,230

      Unrestricted Land with Mountain Views

      23+ acres with mountain views near Pisgah National Forest.
      King Road, Pisgah Forest, NC 28768
      View Details
    • $275,000

      Pisgah Forest Land with Mountain Views

      14.97-acre homesite with mountain views, ready for custom estate.
      11 Reserve Road, Pisgah Forest, NC 28768
      View Details
    • $330,000

      Unrestricted Land Near Pisgah Forest

      18.33 acres near Pisgah National Forest and Dupont Forest.
      Normcol Road, Pisgah Forest, NC 28768
      View Details
    • $150,000
      1,800 SF

      Brevard View Lot Opportunity

      Land with panoramic mountain and river valley views near Brevard.
      Lot 4 Middlemount Road, Pisgah Forest, NC 28768
      View Details
    • $75,000

      Land in Glen Cannon Community

      Large lot with view potential near Pisgah National Forest.
      610 Aberdeen Lane lot: 610, Pisgah Forest, NC 28768
      View Details
    • $495,000

      Land with Views and Creek

      Unrestricted acreage near Pisgah National Forest and Brevard.
      999 Ivy Lane, Pisgah Forest, NC 28768
      View Details
    • $150,000

      50 Acres in Glen Cannon

      50-acre land parcel in Glen Cannon Community, Pisgah Forest, NC.
      Aberdeen, Pisgah Forest, NC 28768
      View Details
    • $75,000

      Pisgah Forest Land For Sale

      Large lot in desirable Glen Cannon Community with view potential.
      611 B Aberdeen lot: 611B, Pisgah Forest, NC 28768
      View Details
    • $50,000

      Land Near Pisgah Forest Trails

      1.03 acres near Ecusta Trail, between Brevard and Hendersonville.
      39 Acorn Lane, Pisgah Forest, NC 28768
      View Details
    • $45,000

      Wooded Lot Near Brevard

      1.85 acre wooded lot, convenient to downtown Brevard.
      Dundee Lane, Pisgah Forest, NC 28768
      View Details

    FAQs

    What type of property is this?
    Land - 32 acres near Pisgah Forest and downtown Brevard.
    Where is this land located?
    The property is located at 55 Locust Court Pisgah Forest, NC.
    What is the asking price?
    The asking price for this property is $699,000.
    What are key features of this property?
    This property features: 32 Acres only 3 miles from Pisgah Forest entrance and 6 miles to downtown Brevard.; Multiple potential homesites for **building a dream home/estate or family compound.**; Located in Lobdell Woods subdivision with paved roads and underground utilities.
    (828) 231-9448
    We can help!
    Listing Contact
    Michael Shoffner
    Michael Shoffner
    Real Estate License ID: 197209
    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
    55 Locust Court, Pisgah Forest, NC 28768
    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!