Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Penny Dr Statesville, NC 28625

    View on Map
    Sponsored
    For Sale
    Contact for pricing

    LAND - Statesville, NC

    Lot size:
    0.71 Acres
    Days on Market:
    21
    Last Refresh:
    Mar 17 at 12:06 pm

    Property Features for Penny Dr

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    RA
    APN
    4802-81-5719.000
    Lot size
    0.71 Acres

    We can help!

    Listing Contact
    Lucas Jones
    Lucas Jones

    Carolina Landmark Realty, LLC (704) 872-0112

    Listing agent Lucas Jones (704) 881-4294

    Listing date Feb 24, 2026

    MLS# 4248628 Listing URL

    Copyright © 2026 Canopy 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

    Land in Desirable Love Valley

    This property offers an opportunity to own approximately 0.705 acres of land in Love Valley, located in Iredell County, North Carolina. The zoning is RA. The location may be suitable for privacy. This land may be ideal for getaways.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Statesville
    County
    Iredell
    State
    North Carolina
    Longitude
    -80.99932762
    Latitude
    35.99127331

    Nearby Similar for Sale

    • $310,000
      1,522 SF

      Statesville Commercial Property For Sale

      Established 1,522 sq.ft. commercial property in a high-visibility location.
      1512 Davie Ave, Statesville, NC 28677
      View Details
    • $895,500
      11,000 SF

      Commercial Building with Leased Spaces

      Commercial building featuring offices, roll-up doors, loading dock, and parking.
      1809 W Front St, Statesville, NC 28677
      View Details
    • New
      $290,000
      3,500 SF

      Versatile Mixed-Use Property Near Downtown

      Mixed-use property suitable for retail, office, or residential use.
      1120 Davie Ave, Statesville, NC 28677
      View Details
    • $775,000
      1.50 Acres

      Statesville Industrial Building with Visibility

      I-40 visible industrial building in Iredell County, suitable for various uses.
      140 Water Tank Rd, Statesville, NC 28677
      View Details
    • $360,000
      4,100 SF

      Spacious Home on Multiple Adjoining Parcels

      Five adjoining parcels with a stately brick home.
      Jones St, Statesville, NC 28625
      View Details
    • $200,000
      0.64 Acres

      Statesville Office/Land Opportunity

      Versatile property with commercial zoning in a high-growth area.
      1225 Davie Ave, Statesville, NC 28677
      View Details
    • $155,000
      0.88 Acres

      Statesville Commercial Property For Sale

      Commercial building on 0.88 acre lot with road frontage.
      2874 Salisbury Hwy, Statesville, NC 28677
      View Details
    • $649,500
      0.41 Acres

      Professional Office with Residential Apartments

      Two-story brick building with office space and residential apartments.
      224 Harrill St, Statesville, NC 28677
      View Details
    • $95,000
      0.68 Acres

      Waterfront Property Near Lake Norman

      Waterfront property near Lake Norman with easy access to I-40.
      Lookout Dam Rd, Statesville, NC 28625
      View Details
    • $95,000
      0.68 Acres

      Waterfront Land Near Lake Norman

      Waterfront property near Lake Norman with easy access to I-40.
      Lookout Dam Rd, Statesville, NC 28625
      View Details
    • $650,000
      5,070 SF

      Versatile Commercial Building on Shelton

      5,070 sq ft commercial building on 0.59-acre lot.
      935 Shelton Ave, Statesville, NC 28677
      View Details
    • $95,000
      0.78 Acres

      Waterfront Land Near Lake Norman

      Waterfront property near Lake Norman with easy access to I-40.
      Lookout Dam Rd, Statesville, NC 28625
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Nearly one acre of land in Iredell County, North Carolina.
    Where is this residential land & home lot located?
    The property is located at Penny Dr Statesville, NC.
    What is the asking price?
    The asking price for this property is $29,500.
    What are key features of this property?
    This property features: - Nearly one acre property size; - Desirable Love Valley location; - Perfect for privacy
    (704) 872-0112
    Request Owner's contact information
    Penny Dr Statesville, NC 28625
    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.
    Penny Dr
    Statesville, NC 28625
    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
    Penny Dr Statesville, NC 28625
    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

    We can help!
    Listing Contact
    Lucas Jones
    Lucas Jones
    Real Estate License ID: 280724
    (704) 872-0112 (704) 881-4294
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!