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

    Isabel Way lot 17 Piney Creek, NC 28663

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    LAND - Piney Creek, NC

    Lot size:
    0.63 Acres
    Added:
    Jun 12, 2024
    Days on Market:
    667
    Last Refresh:
    Apr 9 at 7:06 pm

    Property Features for Isabel Way lot 17

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    0.63 Acres

    We can help!

    Listing Contact
    Cheryl Mitchell
    Cheryl Mitchell

    Listing agent Cheryl Mitchell

    Listing office Foxfire Realty 2760 US Hwy 21 S, Sparta, NC

    Listing date Jun 12, 2024

    MLS# 250272

    Copyright © 2026 High Country Association of Realtors. 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 Two River Country

    Located in the Two River Country community in Piney Creek, this 0.63 acre property is situated between the towns of Sparta and West Jefferson. The lot's terrain is sloping to steep and wooded, offering potential mountain views. It features road frontage on Georgina Way. The gated subdivision includes a common area on the New River suitable for fishing, kayaking, tubing, and riverside relaxation.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Piney Creek
    County
    Alleghany
    State
    North Carolina
    Longitude
    -81.340581
    Latitude
    36.542466

    Nearby Similar for Sale

    • $25,000

      Piney Creek Homesite with River Access

      Homesite in Piney Creek with New River access.
      45 Happy Ridge Road, Piney Creek, NC 28631
      View Details
    • $14,000

      Land in Deerwood Park Community

      1.01 acre building lot in gated mountain community.
      Isabelle Rose Way lot: #42, Piney Creek, NC 28663
      View Details
    • $16,000

      Wooded Lot in Gated Community

      1.39-acre building lot in the Blue Ridge Mountains.
      Woodlands Drive lot: 16, Piney Creek, NC 28663
      View Details
    • $84,900

      Unrestricted Land in Piney Creek

      3.5-acre property with septic and shared well in place.
      51 Peaceful Meadows, Piney Creek, NC 28663
      View Details
    • $19,900

      Wooded Lot with Creek Access

      1.33-acre wooded lot with creek in River Pines community.
      TBD (Lots 42 & 43) Happy Ridge Road, Piney Creek, NC 28663
      View Details
    • $23,000

      Piney Creek Homesite in Gated Community

      Homesite in gated community with shared well and amenities.
      American Drive lot: 14, Piney Creek, NC 28663
      View Details
    • $29,900

      2.7 Acres in Gated Community

      2.7-acre homesite with creek, septic permit, and shared well.
      Prime Circle lot: 72,73, Piney Creek, NC 28663
      View Details
    • $985,000

      Piney Creek Unrestricted Land

      113 acres of unrestricted land near Blue Ridge Parkway.
      Tbd Phipps Dairy Road, Piney Creek, NC 28663
      View Details

    FAQs

    What type of property is this?
    Land - 0.63 acre lot in gated community with river access.
    Where is this land located?
    The property is located at Isabel Way lot 17 Piney Creek, 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 with common area access to the New River for recreation (fishing, kayaking, tubing).; Located in Two River Country, centrally positioned between Sparta and West Jefferson.; 0.63 +/- acre wooded lot with potential mountain views.
    (336) 657-7294
    We can help!
    Listing Contact
    Cheryl Mitchell
    Cheryl Mitchell
    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!