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

    8404 James Rest Home Road New Hill, NC 27562

    View on Map
    For Sale
    $380,000

    LAND - New Hill, NC

    Lot size:
    4.75 Acres
    Added:
    May 15, 2024
    Days on Market:
    687
    Last Refresh:
    Apr 1 at 4:06 pm

    Property Features for 8404 James Rest Home Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R-30
    Vegetation
    Heavily Wooded, Brush
    Standard status
    Active
    Lot size
    4.75 Acres

    Taxes and HOA fees

    TaxYear
    2023
    TaxDescription
    Corr By Deed Welch
    TaxAnnualAmount
    1915

    Utilities

    Sewer type
    Septic Needed
    Water source
    Well Needed

    We can help!

    Listing Contact
    Forrest Newkirk

    Listing agent Forrest Newkirk License #308050

    Listing office Fathom Realty NC, LLC 11312 US 15-501 N Ste. 107-12, Chapel Hill, NC

    Listing date May 15, 2024

    MLS# 10033278 Listing URL

    Copyright © 2025 Doorify MLS of North Carolina. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    4.75 Acres Wooded Land

    This 4.75-acre wooded property is located within the Holly Springs Planning Jurisdiction and is zoned R-30. A soil test is on file. An adjacent 6.06-acre parcel is also available. This land is suitable for development.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Building Supply Hotel & Motel Cafe & Coffee Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    New Hill
    County
    Wake
    State
    North Carolina
    Longitude
    -78.933418
    Latitude
    35.662227

    Nearby Similar for Sale

    • $359,900

      New Hill Acreage Opportunity

      4.19 acres of land in a growing New Hill area.
      9824 Horton Road, New Hill, NC 27562
      View Details
    • $225,000

      4.5 Acres Wooded Land

      4.5-acre wooded property with pond views, no HOA.
      590 Truth Road, New Hill, NC 27562
      View Details
    • $225,000

      Wooded Land with Scenic Pond

      4.5 acres of wooded land perfect for building a home.
      590 Truth Road lot: 2, New Hill, NC 27562
      View Details
    • $450,000

      28 Acres in New Hill

      28-acre tract in New Hill, NC, ideal for homesteading.
      Lasters Road, New Hill, NC 27562
      View Details
    • $220,000

      4.5 Acres Wooded Land

      4.5-acre wooded property with pond views, no HOA.
      590 Truth Road, New Hill, NC 27562
      View Details
    • $800,000

      Wooded Land in Western Wake

      6.9 acres of wooded land in Western Wake County.
      3520 Bosco Road, New Hill NC 27562, New Hill, NC 27562
      View Details
    • $220,000

      Wooded Land with Scenic Pond

      4.5 acres of wooded land, perfect for your dream home.
      590 Truth Road, New Hill, NC 27562
      View Details
    • $630,000

      19.7 Acres Wooded Retreat Land

      19.7-acre wooded land near Jordan Lake, build your dream home!
      1096 Kadir Womble Drive, New Hill, NC 27562
      View Details
    • $1,243,000

      31 Acres of Raw Land

      31 acres of raw land in Holly Springs, North Carolina.
      4321&4333 New Hill Holleman Road, New Hill, NC 27562
      View Details
    • $499,999

      Wooded Lot Near Harris Lake

      4.65 acre wooded lot near Duke Energy Harris Lake property.
      157 Smith Overlook Way, New Hill, NC 27562
      View Details
    • Contact for pricing
      189 SF

      Wake County Land Assemblage

      190-acre land assemblage near industrial and residential developments.
      4300 Shearon Harris Road, New Hill, NC, 27562
      View Details
    • $400,000

      Land Available in New Hill

      0.47 acres of land for sale in New Hill, NC.
      3400 New Hill Holleman Rd, New Hill, NC 27562
      View Details

    FAQs

    What type of property is this?
    Land - 4.75-acre wooded land zoned R-30 in Holly Springs Planning Jurisdiction.
    Where is this land located?
    The property is located at 8404 James Rest Home Road New Hill, NC.
    What is the asking price?
    The asking price for this property is $380,000.
    What are key features of this property?
    This property features: 4.75‑acre wooded lot within Holly Springs Planning Jurisdiction.; Zoned R‑30, suitable for development.; Soil test on file.
    (919) 255-8689
    We can help!
    Listing Contact
    Forrest Newkirk
    Real Estate License ID: 308050
    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!