Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    705 Mill Creek Drive lot 83 Minnesott Beach, NC 28510

    View on Map
    For Sale
    $39,000

    LAND - Minnesott Beach, NC

    Lot size:
    0.39 Acres
    Added:
    Feb 12, 2025
    Days on Market:
    418
    Last Refresh:
    Apr 6 at 9:06 pm

    Property Features for 705 Mill Creek Drive lot 83

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    RMU
    Standard status
    Active
    APN
    F09-33-83
    Lot size
    0.39 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    LOT 83 MILL CREEK PH 1
    Tax Annual Amount
    158

    We can help!

    Listing Contact
    REBECCA LANG

    Listing agent REBECCA LANG License #215772

    Listing office Arlington Place Realty, LLC 57 Burton Farm Road, Arapahoe, NC

    Listing date Feb 12, 2025

    MLS# 100488744 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

    Residential Land in Gated Community

    This 0.39-acre residential land is located in the gated riverfront neighborhood of Arlington Place in Minnesott Beach, NC. A current 3-bedroom septic permit is on file. The property is located in an X flood zone, eliminating the need for flood insurance. The location is steps away from the park, pool, clubhouse, and sports courts. Arlington Place offers amenities including a kayak center, kayak dock, boardwalk, trails, parks, tennis courts, basketball court, pickleball courts, volleyball court, riverfront beach, fishing docks, gate house, boat ramp, storage lot, welcome center, gazebos, rental cottages, fitness room, playground, fire pits and day docks on Mill Creek. The neighborhood offers low homeowners insurance, low dues, pre-paid water tap, and fast Wifi. A K-12 school is located across the street.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Building Supply Hotel & Motel Gym & Fitness Center Restaurant

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

    Location Insight

    • Map
    • Local Demand
    City
    Minnesott Beach
    County
    Pamlico
    State
    North Carolina
    Longitude
    -76.8419696
    Latitude
    35.0032563

    Nearby Similar for Sale

    • $375,000

      Indian Lake Peninsula Opportunity

      5.48 acres of waterfront land with rental potential.
      801 Jeff Road, Minnesott Beach, NC 28510
      View Details
    • $54,000

      Residential Land in Gated Community

      Flat homesite near amenities in gated waterfront community.
      39 Lily Pond Lane lot: 20, Minnesott Beach, NC 28510
      View Details
    • $49,000

      Residential Land in Gated Community

      Homesite in gated community with many amenities and water access.
      176 Mill Creek Drive lot: 8, Minnesott Beach, NC 28510
      View Details
    • $58,000

      Residential Land in Gated Community

      Homesite in amenity-rich, gated riverfront community, no flood insurance required.
      111 Wild Cherry Lane lot: 96, Minnesott Beach, NC 28510
      View Details
    • $39,000

      Residential Land in Minnesott Beach

      Residential land with access to amenities and waterfront.
      830 Mill Creek Drive lot: 54, Minnesott Beach, NC 28510
      View Details
    • $45,000

      Residential Lot in Waterfront Neighborhood

      Residential lot in private, riverfront neighborhood with many amenities.
      1049 Mill Creek Drive lot: 62D, Minnesott Beach, NC 28510
      View Details
    • $115,000

      Lakefront Double Homesite Ready to Build

      Cleared, flat double homesite with septic permit in riverfront neighborhood.
      727 W Burton Farm Drive lot: 318 + 319, Minnesott Beach, NC 28510
      View Details
    • $54,000

      Land in Premier Neighborhood

      Corner lot near amenities in Arlington Place, Minnesott Beach.
      68 Wild Swan Lane lot: 99, Minnesott Beach, NC 28510
      View Details
    • $155,000

      Creekfront Lot with Sunset Views

      Elevated lot with sunset views in Arlington Place.
      1054 Mill Creek Drive, Minnesott Beach, NC 28510
      View Details
    • $98,000

      Large Homesite Near Neuse River

      One-acre homesite near Neuse River with community amenities.
      332 S Brightleaf Drive lot: 368, Minnesott Beach, NC 28510
      View Details
    • $275,000

      Minnesott Beach Private Dream Land

      7.39 acres of wooded land near Minnesott Beach, NC.
      Jeff Road, Minnesott Beach, NC 28510
      View Details
    • $35,000

      Residential Lot on Golf Course

      Vacant lot on golf course with septic tank installed.
      401 Country Club Drive W lot: 20, Minnesott Beach, NC 28510
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Land with septic permit near amenities in Minnesott Beach.
    Where is this residential land & home lot located?
    The property is located at 705 Mill Creek Drive lot 83 Minnesott Beach, NC.
    What is the asking price?
    The asking price for this property is $39,000.
    What are key features of this property?
    This property features: Current 3‑bedroom septic permit on file.; X flood zone: No flooding or mandatory flood insurance.; Steps away from park, pool, clubhouse, and sports courts.
    (252) 599-1903
    We can help!
    Listing Contact
    REBECCA LANG
    Real Estate License ID: 215772
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!