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

    Pilgrim Ct Lexington, NC 27295

    View on Map
    Sponsored
    For Sale
    Under Contract
    $59,000

    Single Family Residence - Lexington, NC

    Type:Single Family Residence
    Lot size:
    2.38 Acres
    Days on Market:
    131
    Last Refresh:
    Mar 17 at 2:06 pm

    Property Features for Pilgrim Ct

    General Information

    Property type
    Land
    Property subtype
    Single Family Residence
    Standard status
    Active Under Contract
    Zoning
    RS
    Lot size
    2.38 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Michelle Epley

    Southern Key Realty (133) 687-0153

    Listing agent Michelle Epley (133) 687-0153

    Listing date Nov 6, 2025

    MLS# 1197613 Listing URL

    Copyright © 2026 Triad Multiple Listing Service. 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

    Residential Lot in Lexington, NC

    This 2.38-acre lot, located in Lexington, NC, presents an opportunity for residential development. Situated a short distance from town, the property offers a quiet, country-like setting. The property is zoned RS. The listing title indicates the property is suitable for a single family residence.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Lexington
    County
    Davidson
    State
    North Carolina
    Longitude
    -80.207684
    Latitude
    35.860219

    Nearby Similar for Sale

    • $599,950
      1,060 SF

      Commercial Building in Lexington, NC

      Commercial building with possibilities in Lexington, North Carolina.
      11362 Old Us Highway 52, Lexington, NC 27295
      View Details
    • $299,000
      Pending

      Lexington Retail Space with Kitchen

      Restaurant or retail opportunity with commercial kitchen and ample parking.
      518 Southbound St, Lexington, NC 27292
      View Details
    • $229,900

      Historic Lexington Mixed-Use Opportunity

      Historic 4-story brick building in downtown Lexington, North Carolina.
      1 State St, Lexington, NC 27292
      View Details
    • Contact for pricing

      Office Space in Lexington, NC

      Office space featuring private offices, reception area, and HVAC.
      102-c W 1St Ave, Lexington, NC 27292
      View Details
    • $395,000
      Pending

      Retail Building in Lexington, NC

      Retail building on a high visibility corner with high traffic.
      520 Salem St, Lexington, NC 27293
      View Details
    • $1,300,000
      23,000 SF

      Renovated Industrial Building in Lexington

      Versatile 23,000+ sq ft renovated building in downtown Lexington.
      30 E 1St St, Lexington, NC 27292
      View Details
    • $349,900
      0.86 Acres

      Prime Commercial Building, Lexington

      Commercial building in high-traffic location suitable for various business uses.
      3995 Old Us Highway 52, Lexington, NC 27295
      View Details
    • $649,999

      Lexington Car Wash Investment Opportunity

      Car wash with laser wash and hand wash bays.
      1544 Old Us Highway 52, Lexington, NC 27295
      View Details
    • $650,000

      Updated Commercial Building Near Highway

      Updated commercial building with high visibility and accessibility.
      3574 Cotton Grove Rd, Lexington, NC 27292
      View Details
    • $1,450,000

      Established Restaurant with Drive-Thru

      Thriving restaurant for sale with ample parking and drive-thru.
      9150 Nc Highway 8, Lexington, NC 27292
      View Details
    • $419,000
      12,000 SF

      Industrial Space Near I-85 & I-40

      Industrial space with easy access to major interstates.
      872 American Way, Lexington, NC 27295
      View Details
    • $450,000

      Lexington Commercial Building For Sale

      Approximately 5,500 sq. ft. commercial building in Lexington, NC.
      22 S Talbert Blvd, Lexington, NC 27292
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 2.38 acre residential lot, close to Lexington, NC.
    Where is this residential land & home lot located?
    The property is located at Pilgrim Ct Lexington, NC.
    What is the asking price?
    The asking price for this property is $59,000.
    What are key features of this property?
    This property features: - Large 2.38 acre lot provides ample space and potential.; - Enjoy a quiet, country-like setting.; - Conveniently located, not too far from town.
    (336) 239-0209
    Request Owner's contact information
    Pilgrim Ct Lexington, NC 27295
    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.
    Pilgrim Ct
    Lexington, NC 27295
    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
    Pilgrim Ct Lexington, NC 27295
    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
    Michelle Epley
    Real Estate License ID: 310571
    (336) 239-0209 (133) 687-0153
    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!