Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Prime Lot Near Pine Needles Title is generated by Realmo AI

    Grove Rd, Southern Pines, NC 28387

    View on Map
    Claim this Listing
    Picture of Residential land & home lots at Grove Rd, Southern Pines, NC
    For Sale
    $325,000

    LAND - Southern Pines, NC

    Lot size:
    0.55 Acres
    Added:
    Sep 30, 2025
    Days on Market:
    249
    Last Refresh:
    Jun 5 at 10:06 pm

    Property Features for Grove Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    RS-3
    Standard status
    Active
    APN
    00034374
    Lot size
    0.55 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    LOT PART 463

    We can help!

    Listing Contact
    Melody Bell McClelland

    Listing agent Melody Bell McClelland License #294695

    Listing office Pines Sotheby's International Realty 177 W Pennsylvania Ave, Southern Pines, NC

    Listing date Sep 30, 2025

    MLS# 100533442 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.

    HighLights

    • Prime location directly across from the prestigious Pine Needles Golf Course.
    • Located in the highly desirable Knollwood Heights neighborhood.
    • Generous .55‑acre vacant lot, ready for building.
    • Close proximity to downtown amenities, dining, and shopping.
    • Pine Needles Golf Course is part of the Marine & Lawn collection with planned renovations.
    • Seller has house plans available.

    Overview

    This 0.55-acre vacant lot presents an opportunity to build a home in the Knollwood Heights neighborhood. The property is located across the street from the Pine Needles Golf Course, an 18-hole design course. Pine Needles hosted its 4th U.S. Women's Open Championship in 2022 and was restored in 2017. The course is part of the Marine & Lawn collection, with renovations planned for Pine Needles and Mid Pines. This lot is located minutes from downtown amenities, dining, and shopping. The property is zoned RS-3.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Southern Pines
    County
    Moore
    State
    North Carolina
    Longitude
    -79.393283
    Latitude
    35.200012

    Nearby Similar for Sale

    • $1,150,000
      3,914 SF

      Southern Pines Office Building For Sale

      Office building in Southern Pines, walking distance to amenities.
      285 W New York Avenue, Southern Pines, NC 28387
      View Details
    • $967,500

      Southern Pines Corporate Park Land

      7.74 acres of versatile land in Southern Pines, NC.
      Air Tool Drive lot: 4, Southern Pines, NC 28387
      View Details
    • $165,000

      Vacant Land in Southern Pines

      Commercial land for sale in a growing Southern Pines corridor.
      375 Rothney Avenue, Southern Pines, NC 28387
      View Details
    • $3,500,000
      44,500 SF

      Industrial Building with Office Space

      44,500 SF industrial/manufacturing building with offices near Southern Pines.
      845 Valley View Rd, Southern Pines, NC 28387
      View Details
    • $184,900

      Private Homesite in Southern Pines

      Build-ready 0.69-acre parcel near Mid South Club.
      1679 W Massachusetts Avenue, Southern Pines, NC 28387
      View Details
    • $170,000

      Southern Pines Homesite Opportunity

      Homesite in the heart of Southern Pines, North Carolina.
      665 N Hale Street, Southern Pines, NC 28387
      View Details
    • $2,500,000
      7,500 SF

      Fully Leased Shopping Center

      L-shaped shopping center with diverse tenant mix near Highway 15/501.
      206 Commerce Avenue, Southern Pines, NC 28387
      View Details
    • $1,400,000
      21,000 SF

      Entitled Office Park Development Opportunity

      Office park development site with completed horizontal work for sale.
      525 Service SE Road, Southern Pines, NC 28387
      View Details
    • $199,000

      Southern Pines Land For Sale

      Residential land with public water and sewer access.
      304 Eastman Road, Southern Pines, NC 28387
      View Details
    • $25,000

      Residential Land in Southern Pines

      Parcel ready for building with water and sewer connections.
      474 N Gaines Street, Southern Pines, NC 28387
      View Details
    • $495,000

      Downtown Duplex with Two 2/2 Units

      Duplex in Southern Pines with a well-suited layout: two 2-bedroom, 2-bath units, one per floor.
      175 W Connecticut Avenue, Southern Pines, NC 28387
      View Details
    • $575,000
      2,471 SF

      Southern Pines Duplex Investment Opportunity

      Charming duplex in Southern Pines with updated units and leases.
      264 E Indiana Avenue, Southern Pines, NC 28387
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Build your dream home near world-class golf.
    Where is this residential land & home lot located?
    The property is located at Grove Rd Southern Pines, NC.
    What is the asking price?
    The asking price for this property is $325,000.
    What are key features of this property?
    This property features: Prime location directly across from the prestigious Pine Needles Golf Course.; Located in the highly desirable Knollwood Heights neighborhood.; Generous .55‑acre vacant lot, ready for building.
    (910) 528-4313
    We can help!
    Listing Contact
    Melody Bell McClelland
    Real Estate License ID: 294695
    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

    Thank You for Inquiry
    Grove Rd, Southern Pines, NC 28387
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!