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    Cordgrass Rd, Unit 9 Hampstead, NC 28443

    Sponsored
    For Sale
    Under Contract
    $170,000

    LAND - Hampstead, NC

    Lot size:
    0.46 Acres
    Days on Market:
    27
    Last Refresh:
    Jan 18 at 9:06 pm

    Property Features for Cordgrass Rd

    General Information

    Special listing conditions
    Standard
    Property type
    Land
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active Under Contract
    Zoning
    PD
    APN
    4202-49-0783-0000
    Lot size
    0.46 Acres

    Utilities

    Utilities
    Water Available
    Water source
    Public

    We can help!

    Listing Contact
    Brenda L Bokano

    Coldwell Banker Sea Coast Advantage (910) 799-3435 [email protected]

    Listing agent Brenda L Bokano (910) 799-5531 License #241012

    Listing date Dec 23, 2025

    MLS# 100520116 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.

    Learn more

    Property Insight Report

    Overview

    Wooded Homesite in Olde Point

    Offered for sale is a flat, well-draining wooded homesite almost half an acre in size, located in the desirable community of Olde Point. The lot is not in a flood zone and is between 20'-24' above sea level. There has never been an issue with flooding on this lot or the adjacent lots. A soil evaluation/environmental health approval from Pender County was issued for a four-bedroom home (permit expired 2019). A current land survey is also available for review. Olde Point is a unique community of homes of various architectural styles and sizes, situated on large lots surrounded by mature trees and landscaping offering plenty of privacy. Located close to the cul-de-sac, this end of the street has very little traffic. Within a two-minute drive, the residents of Olde Point have exclusive use of the boat ramp located at the Harbor Village Yacht Club with parking for vehicles as well as boat trailers. Residents can access pristine beaches via the meandering waterway or the calm waters of the Intracoastal Waterway. The property is located within two miles of a host of dining options, shopping, medical access and other amenities. Also noteworthy is the desirable Topsail school system and various sports parks. Outdoor activities are plentiful including golf, tennis, swimming and boating, all within the Olde Point community. This property is a short drive to Surf City on Topsail Island, where festivals, concerts and various activities for all ages are held year-round. Conveniently located just 25 minutes from Wilmington International Airport, this lot is located on Cordgrass Road in Hampstead, NC.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Hampstead
    County
    Pender
    State
    North Carolina
    Longitude
    -77.661264
    Latitude
    34.373924

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    FAQs

    What type of property is this?
    Land - Flat, well-draining homesite in desirable Olde Point community.
    Where is this land located?
    The property is located at Cordgrass Rd, Unit 9 Hampstead, NC.
    What is the asking price?
    The asking price for this property is $170,000.
    What are key features of this property?
    This property features: - Exclusive access to a boat ramp at Harbor Village Yacht Club (two-minute drive).; - Lot is NOT in a flood zone and is between 20'-24' above sea level.; - Almost half-acre, flat, well-draining wooded lot in the desirable Olde Point community.
    (910) 520-3536
    Request Owner's contact information
    Cordgrass Rd, Unit 9 Hampstead, NC 28443
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    Hampstead, NC 28443
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    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
    Cordgrass Rd, Unit 9 Hampstead, NC 28443
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    We can help!
    Listing Contact
    Brenda L Bokano
    Real Estate License ID: 241012
    (910) 520-3536
    Learn more
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