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

    Chesterfield Drive Mill Spring, NC 28756

    View on Map
    Claim this Listing
    Picture of Residential land & home lots at Chesterfield Drive, Mill Spring, NC
    For Sale
    $154,500

    LAND - Mill Spring, NC

    Lot size:
    2.95 Acres
    Added:
    Jul 15, 2025
    Days on Market:
    281
    Last Refresh:
    Apr 21 at 4:06 pm

    Property Features for Chesterfield Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    P29-204
    Lot size
    2.95 Acres

    Taxes and HOA fees

    Tax Description
    LOT 180 PHASE 1 - MAP 7 BRIGHT'S CREEK

    Utilities

    Sewer type
    Septic Needed
    Water source
    Well

    We can help!

    Listing Contact
    Madelon Wallace
    Madelon Wallace

    Listing agent Madelon Wallace License #57561

    Listing office Walker Wallace and Emerson Realty 400 East Rutherford Street Suite 100, NC

    Listing date Jul 15, 2025

    MLS# 4281287 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.

    Overview

    Residential Lot in Bright's Creek

    This 2.95-acre residential lot is located in the Bright's Creek golf community. The family-friendly community offers mountain views and opportunities for equestrian activities and outdoor adventures. It is located in Mill Spring, NC, in Polk County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Mill Spring
    County
    Polk
    State
    North Carolina
    Longitude
    -82.1739
    Latitude
    35.3435

    Nearby Similar for Sale

    • $85,000

      Bright's Creek Homesite with Views

      2.28-acre homesite in Bright's Creek with mountain views.
      99999 Chesterfield Drive, Mill Spring, NC 28756
      View Details
    • $95,000

      Bright's Creek Homesite with Waterfall

      1.83-acre homesite in Bright's Creek with waterfall.
      99999 Chesterfield Drive, Mill Spring, NC 28756
      View Details
    • $69,900

      Lake Adger Acreage Opportunity

      7.08-acre lot in Lake Adger equestrian community.
      Lake Adger Parkway lot: 46, Mill Spring, NC 28756
      View Details
    • $147,900

      Lakefront Land in Gated Community

      2.06-acre lakefront lot with mountain views and marina slip.
      Mountain Parkway lot: 30, Mill Spring, NC 28756
      View Details
    • $200,000

      Lakefront Lot with Deeded Boat

      Lake Adger lot with boat slip, ideal for recreation.
      Lake Adger Parkway lot: 60, Mill Spring, NC 28756
      View Details
    • $3,200,000

      Prime Development Land Near TIEC

      128-acre development opportunity near Tryon International Equestrian Center.
      Pea Ridge Road, Mill Spring, NC 28756
      View Details
    • $245,000

      Lake Adger Waterfront Lot

      Wooded lot with lake frontage, dock, and mountain views.
      Hawk Ridge Drive, Mill Spring, NC 28756
      View Details
    • $40,000

      Residential Land Near Green River

      4.78-acre lot with community Green River access.
      LT 5 Geebees Way, Mill Spring, NC 28756
      View Details
    • $239,900

      Unrestricted Land Near Winery

      12.6 acres of unrestricted land near Parker-Binns Winery.
      Pea Ridge Road, Mill Spring, NC 28756
      View Details
    • $3,200,000

      128 Acres Near Equestrian Center

      Development opportunity near Tryon International Equestrian Center with highway visibility.
      Pea Ridge Road, Mill Spring, NC 28756
      View Details
    • $2,250,000
      10,100 SF

      Commercial Property at Highway Intersection

      Unrestricted 5.33-acre commercial property with multiple buildings.
      82 N Hwy9, Mill Spring, NC 28756
      View Details
    • $2,999,000

      Prime Land Near Equestrian Center

      211+ acres near Tryon Equestrian Center with diverse potential.
      1888 Pea Ridge Road, Mill Spring, NC 28756
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 2.95-acre residential lot in Bright's Creek golf community.
    Where is this residential land & home lot located?
    The property is located at Chesterfield Drive Mill Spring, NC.
    What is the asking price?
    The asking price for this property is $154,500.
    What are key features of this property?
    This property features: Large 2.95‑acre residential lot.; Located in the Bright's Creek golf community.; **Breathtaking mountain views and pristine environment.**
    (864) 457-2448
    We can help!
    Listing Contact
    Madelon Wallace
    Madelon Wallace
    Real Estate License ID: 57561
    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!