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    Lot 96 Cloud Spring Drive Sugar Mountain, NC 28604

    View on Map
    For Sale
    $129,000

    Land - Sugar Mountain, NC

    Lot size:
    0.55 Acres
    Added:
    Mar 3, 2026
    Days on Market:
    33
    Last Refresh:
    Apr 5 at 1:06 pm

    Property Features for Lot 96 Cloud Spring Drive

    General Information

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

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Michelle Griffin
    Michelle Griffin

    Listing agent Michelle Griffin

    Listing office High Country Resort Properties PO Box 1973, Banner Elk, NC

    Listing date Mar 3, 2026

    MLS# 256498 Listing URL

    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

    Sugar Mountain Residential Land

    Located at approximately 5,000 feet elevation on Sugar Mountain, this property is situated within the Sugar Pointe residential community. The flat 0.55-acre lot is suitable for constructing a custom home with a backyard. Lot 96 features underground utilities, including public water, electric, cable, and sewer connections, which facilitates building. The location on Sugar Mountain allows for enjoyment of summer weather and winter activities on the slopes, as well as access to Grandfather Mountain State Park. Nearby towns such as Banner Elk, Blowing Rock, and Boone offer golf, tennis, hiking, biking, and restaurants. A 2025 land survey is available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Computer & Electronic Repair Travel Agency Bed & Breakfast (Bike/Boat/Book/etc) Store Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sugar Mountain
    County
    Avery
    State
    North Carolina
    Longitude
    -81.879174
    Latitude
    36.120284

    Nearby Similar for Sale

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      Sugar Mountain View Lot

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    • $49,900

      Sugar Mountain Land For Sale

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      Sugar Mountain Homesite with Rental Potential

      Homesite in Sugar Mountain with short-term rental potential.
      Lot 196 Green Cliffs Road, Sugar Mountain, NC 28657
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      Homesite Near Sugar Mountain Skiing

      Building lot near skiing, golf, tennis, hiking, dining, and shopping.
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      Land Near Sugar Mountain Slopes

      Two prime building lots near Sugar Mountain's amenities.
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      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Flat homesite with utilities in Sugar Pointe community.
    Where is this residential land & home lot located?
    The property is located at Lot 96 Cloud Spring Drive Sugar Mountain, NC.
    What is the asking price?
    The asking price for this property is $129,000.
    What are key features of this property?
    This property features: Flat, easily buildable lot in Sugar Pointe.; Underground utilities: public water, electric, cable, and sewer available.; High elevation (~5,000’) on Sugar Mountain.
    (828) 260-7751
    We can help!
    Listing Contact
    Michelle Griffin
    Michelle Griffin
    Real Estate License ID: 292518
    Learn More
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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
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