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    Riverfront Build-Ready Land Lot Title is generated by Realmo AI

    Harshaw Farm Drive lot 17, Murphy, NC 28906

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    Claim this Listing
    For Sale
    $79,900

    LAND - Murphy, NC

    Lot size:
    1.11 Acres
    Added:
    Mar 31, 2026
    Days on Market:
    65
    Last Refresh:
    Jun 3 at 1:06 am

    Property Features for Harshaw Farm Drive lot 17

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Deed Restricted
    Standard status
    Active
    APN
    550200626235000
    Lot size
    1.11 Acres

    Utilities

    Utilities
    Cable Available
    Water source
    Well
    Water front
    1

    We can help!

    Listing Contact
    Deanna Robertson
    Deanna Robertson

    Listing agent Deanna Robertson License #309598

    Listing office Fiv Realty Co 20 Hickory Street, NC

    Listing date Mar 31, 2026

    MLS# 98544346 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

    • 1.11‑acre riverfront lot in the gated community of Riverwalk on the Hiwassee in Murphy, NC
    • Build‑ready property with a 4‑bedroom septic approval already in place
    • Hiwassee River frontage with river sound; ideal for waterfront recreation
    • Well water and cable available
    • Underground utilities and gated‑community setting

    Overview

    This build-ready riverfront lot offers 1.11 acres with Hiwassee River frontage in a deed-restricted, gated community. The property includes a 4-bedroom septic approval already in place, which can streamline planning for a primary residence, vacation home, or future investment build. Underground utilities are available, adding to the overall usability of the site.

    Located in Riverwalk on the Hiwassee, the setting is designed for privacy and quiet enjoyment. Access to downtown Murphy is described as minutes away, supporting convenient trips while still maintaining a natural, mountain-and-water lifestyle at the property.

    For buyers who value waterfront living, this lot provides a straightforward starting point with the key infrastructure consideration addressed through the existing septic approval. The combination of river frontage, deed restrictions, and build-ready status makes it well-suited to homeowners seeking a mountain retreat, as well as investors looking for a permitted path to develop a river-adjacent residence.
    Property Profile Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Map

    City
    Murphy
    County
    Cherokee
    State
    North Carolina
    Longitude
    -83.993269
    Latitude
    35.071211

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    FAQs

    What type of property is this?
    Waterfront Land - Build on an approved septic site with Hiwassee River frontage in a gated community near downtown Murphy.
    Where is this waterfront land located?
    The property is located at Harshaw Farm Drive lot 17 Murphy, NC.
    What is the asking price?
    The asking price for this property is $79,900.
    What are key features of this property?
    This property features: 1.11‑acre riverfront lot in the gated community of Riverwalk on the Hiwassee in Murphy, NC; Build‑ready property with a 4‑bedroom septic approval already in place; Hiwassee River frontage with river sound; ideal for waterfront recreation
    (321) 508-0503
    We can help!
    Listing Contact
    Deanna Robertson
    Deanna Robertson
    Real Estate License ID: 309598
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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.

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