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

    Chestnut Lane unit 80 Mars Hill, NC 28754

    View on Map
    For Sale
    Contact for pricing

    LAND - Mars Hill, NC

    Lot size:
    0.71 Acres
    Added:
    Dec 19, 2023
    Days on Market:
    835
    Last Refresh:
    Apr 2 at 4:06 am

    Property Features for Chestnut Lane unit 80

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R-2
    Standard status
    Active
    APN
    986202566467.000
    Lot size
    0.71 Acres

    Taxes and HOA fees

    TaxDescription
    986202566467.000

    Utilities

    Sewer type
    Septic Needed
    Water source
    Well

    We can help!

    Listing Contact
    Elizabeth Jones
    Elizabeth Jones

    Listing agent Elizabeth Jones License #309069

    Listing office RE/MAX Results 115 N. Main Street, Weaverville, NC

    Listing date Dec 19, 2023

    MLS# 4092770 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

    Land in Wolf Laurel Community

    This 0.71-acre land is located within the Wolf Laurel gated community, offering mountain living with access to various amenities for both summer and winter activities. Membership provides opportunities for golf, horseback riding, and swimming, all situated at high elevations with views. Hiking enthusiasts can access the nearby Appalachian Trail via local access points. The property is zoned R-2 and located in Mars Hill, NC.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Mars Hill
    County
    Madison
    State
    North Carolina
    Longitude
    -82.489394
    Latitude
    35.967927

    Nearby Similar for Sale

    • $799,000

      Prime Interstate Visible Commercial Land

      2.25 acre commercial land with high interstate visibility.
      1672 Crossroads Parkway, Mars Hill, NC 28754
      View Details
    • $389,200

      Mars Hill Land For Sale

      55.598 acres of land in Madison County, North Carolina.
      Devils Knob Road, Mars Hill, NC 28754
      View Details
    • $60,000

      Mars Hill Land For Sale

      Residential land in Wolf Laurel gated community with mountain views.
      Fox Den Road unit: 109, Mars Hill, NC 28754
      View Details
    • $433,200

      Mars Hill Development Land

      Development tract within Mars Hill city limits.
      S Main Street, Mars Hill, NC 28754
      View Details
    • $885,000

      Mountain Land with Cabin and Yurt

      104-acre mountain property with cabin and yurt near Asheville.
      1710 Roaring Fork Road, Mars Hill, NC 28754
      View Details
    • $150,000

      Land with Mountain Views

      4.18-acre homesite with panoramic views in gated community.
      1617 Mountain Gait Drive unit: 16 & 17, Mars Hill, NC 28754
      View Details
    • $75,000

      Mars Hill Estate Lot

      2.03 acre lot in Red Wolf Run community.
      Red Wolf Run Road unit: E-7, Mars Hill, NC 28754
      View Details
    • $24,000

      Land in Wolf Laurel Preserve

      3.58-acre lot with sunrise views in gated community.
      10 Mountain Gait Drive, Mars Hill, NC 28754
      View Details
    • $85,000

      Mountain Homesite with Panoramic Views

      2.45-acre homesite with mountain views, near hiking trails.
      17 Mountain Gait Drive unit: 17, Mars Hill, NC 28754
      View Details
    • $75,000

      Land with Mountain Views

      1.73-acre homesite with panoramic views in gated community.
      16 Mountain Gait Drive unit: 16, Mars Hill, NC 28754
      View Details
    • $500,000

      Mars Hill Commercial Land Available

      18.41+/- acres near I-26 and US-23, owner financing available.
      99999 US 23 Highway, Mars Hill, NC 28754
      View Details
    • $175,000

      Cleared Land in Gated Community

      2.57-acre cleared corner lot in Settlers Cove near Asheville.
      9999 Settlers Trail, Mars Hill, NC 28754
      View Details

    FAQs

    What type of property is this?
    Land - Residential land in gated community with mountain views and amenities.
    Where is this land located?
    The property is located at Chestnut Lane unit 80 Mars Hill, NC.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Gated community providing security and exclusivity.; Enjoy access to golf, horseback riding, and swimming.; Mountain living with summer and winter activities.
    (828) 226-2269
    We can help!
    Listing Contact
    Elizabeth Jones
    Elizabeth Jones
    Real Estate License ID: 309069
    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!