Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Residential Land in Castle Hayne Title is generated by Realmo AI

    5535 Fulton Avenue lot Tract 2, Castle Hayne, NC 28429

    View on Map
    Claim this Listing
    For Sale
    $950,000

    LAND - Castle Hayne, NC

    Lot size:
    16.04 Acres
    Added:
    Mar 16, 2026
    Days on Market:
    64
    Last Refresh:
    May 18 at 11:06 am

    Property Features for 5535 Fulton Avenue lot Tract 2

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R-15
    Standard status
    Active
    APN
    R01100-009-001-000
    Lot size
    16.04 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    Pt Moore Hermitage - TRACT 2 ONLY
    Tax Annual Amount
    3523

    Utilities

    Utilities
    Water Available

    We can help!

    Listing Contact
    Sarah W De Vries

    Listing agent Sarah W De Vries License #205366

    Listing office Intracoastal Realty Corp 1900 Eastwood Road, Suite 38, Wilmington, NC

    Listing date Mar 16, 2026

    MLS# 100560703 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

    • Large 16+ acre rural residential site.
    • Zoned R15, suitable for development.
    • Sewer access available at the end of Fulton Ave.
    • CFPUA Water Utility Easement runs along the west property line.
    • Survey available for review.
    • Located in Castle Hayne.

    Overview

    This is a raw 16.04-acre rural residential site zoned R15, situated in Castle Hayne. Sewer access is available at the end of Fulton Avenue. A CFPUA Water Utility Easement runs along the west property line, suitable for future development. Only Tract 2 is being sold. A survey is available for review. New Deed Verbiage detailing Tract 2 will be written at Closing. The current PID R01100-009-001-000 and registered Deed contain Tracts 1 & 2.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Gym & Fitness Center Pharmacy Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Castle Hayne
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.895257
    Latitude
    34.348235

    Nearby Similar for Sale

    • $2,500,000
      5,208 SF

      Versatile Commercial Property in Castle Hayne

      Commercial property with multiple buildings, parking, and highway access.
      4612 N College Road, Castle Hayne, NC 28429
      View Details
    • $699,900

      Castle Hayne Land Opportunity

      1.8 acres in a rapidly growing area of New Hanover.
      6205 Blossom Street, Castle Hayne, NC 28429
      View Details
    • $450,000

      Cleared Homesite in Castle Hayne

      3. 5-acre homesite ideal for horses or multi-home development.
      3508 Marathon Avenue, Castle Hayne, NC 28429
      View Details
    • $259,900

      Creek View Homesite Ready to Build

      Half-acre homesite with creek views and transferable septic permit.
      1405 Ness Drive, Castle Hayne, NC 28429
      View Details
    • $224,900
      678 SF

      Commercial Property in Castle Hayne

      Commercial property with residential unit in prime location.
      6000 Castle Hayne Road, Castle Hayne, NC 28429
      View Details
    • $39,000

      Homesite Near Wilmington, NC

      Land near Wilmington, NC, with driveway access and recorded easement.
      2461 Rockhill Road, Castle Hayne, NC 28429
      View Details
    • $2,500,000
      9,000 SF

      Castle Hayne Road Opportunity

      3.16 acres with two buildings totaling +/- 9,000 SF.
      5301-5311 Castle Hayne Rd, Castle Hayne, NC
      View Details
    • $450,000

      Residential Land in Castle Hayne

      17+ acres of R-15 zoned land in New Hanover County.
      4360 Buck Drive, Castle Hayne, NC 28429
      View Details
    • $59,900

      Castle Hayne Land Opportunity

      Almost one acre of land in Castle Hayne, North Carolina.
      225 Hermitage Road lot: 121, Castle Hayne, NC 28429
      View Details
    • $2,500,000
      5,250 SF

      Industrial Property Near Wilmington

      Industrial site near Wilmington with owner financing available.
      4212 N College Rd, Castle Hayne, NC 28429
      View Details
    • $195,000

      Acre Lot on Reminisce Road

      One-acre lot suitable for building a custom home.
      Tract B Reminisce Road lot: Tract B, Castle Hayne, NC 28429
      View Details
    • $570,000

      River Bluffs Homesite Opportunity

      Homesite in River Bluffs community with extensive amenities.
      3753 White Cliffs Drive lot: 195, Castle Hayne, NC 28429
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 16+ acre residential site with utilities available in Castle Hayne.
    Where is this residential land & home lot located?
    The property is located at 5535 Fulton Avenue lot Tract 2 Castle Hayne, NC.
    What is the asking price?
    The asking price for this property is $950,000.
    What are key features of this property?
    This property features: Large 16+ acre rural residential site.; Zoned R15, suitable for development.; Sewer access available at the end of Fulton Ave.
    (910) 470-7253
    We can help!
    Listing Contact
    Sarah W De Vries
    Real Estate License ID: 205366
    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
    5535 Fulton Avenue lot: Tract 2, Castle Hayne, NC 28429
    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!