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

    R49 50/ 51 Hemlock Ridge Road Blowing Rock, NC 28605

    View on Map
    For Sale
    $159,950

    Land - Blowing Rock, NC

    Lot size:
    1.76 Acres
    Added:
    Oct 30, 2025
    Days on Market:
    153
    Last Refresh:
    Mar 31 at 11:06 pm

    Property Features for R49 50/ 51 Hemlock Ridge Road

    General Information

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

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Robert Novacek

    Listing agent Robert Novacek

    Listing office Blowing Rock Properties, Inc PO Box 2486, Blowing Rock, NC

    Listing date Oct 30, 2025

    MLS# 256637 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

    Blowing Rock Mountain Creek Lots

    Located in the gated community of Lost Creek, these three picturesque mountain creek front lots offer long-range views. The lots are combined and represent three of the remaining 14 recorded and platted lots within the 500-acre Lost Creek community. The property features old-growth trees and borders National Forest land. The community has a beautiful entrance with stone columns and bronze signage, as well as a well-developed road system that includes both paved and gravel roads. Some underground utilities and well hook-ups are already installed. The property provides easy access to the Parkway.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Hair Salon Nail Salon Pharmacy Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Blowing Rock
    County
    Watauga
    State
    North Carolina
    Longitude
    -83.2010345
    Latitude
    35.0669792

    Nearby Similar for Sale

    • $89,000

      Blowing Rock Land Opportunity

      Exceptional lot near Appalachian Ski Mountain with permits in place.
      Lot 37 Ski Acres Drive, Blowing Rock, NC 28605
      View Details
    • $1,899,200

      Blowing Rock Development Tract

      47.48-acre development tract with layered gorge views.
      47.48 Acres Blowing Rock Boulevard, Blowing Rock, NC 28605
      View Details
    • $319,000

      Blowing Rock Ready-to-Build Lot

      Ready-to-build lot in desirable Mayview neighborhood, Blowing Rock.
      Tbd Wonderland Trail, Blowing Rock, NC 28605
      View Details
    • $150,000

      Blowing Rock Land in Firethorn

      0.97-acre wooded lot in gated community near Blue Ridge Parkway.
      405 Firethorn Trail, Blowing Rock, NC 28605
      View Details
    • $275,000

      Blowing Rock Homesite with Mountain Views

      Premier gated community homesite with mountain views and amenities.
      Tbd Thunderhill Trail, Blowing Rock, NC 28605
      View Details
    • $2,995,000

      Blowing Rock Land with Gorge Views

      111.38-acre tract with spectacular views near Blowing Rock, NC.
      111 Acres - Blowing Rock Boulevard, Blowing Rock, NC 28605
      View Details
    • $495,000

      Blowing Rock Land Near Park

      Almost 7 acres near Moses Cone Park in Blowing Rock.
      Tbd Shulls Mill Road, Blowing Rock, NC 28605
      View Details
    • $98,000

      Blowing Rock Ridgetop Lot

      Ridgetop lot in gated community near Main Street.
      Red Wolf lot: 24, Blowing Rock, NC 28605
      View Details
    • $199,000

      Blowing Rock Land For Sale

      0.92 acre lot ready for your dream mountain home.
      28 Chickasaw Trail, Blowing Rock, NC 28605
      View Details
    • $219,000

      Blowing Rock Land with Shared Well

      Homesite in mountain community with lake, trails, and clubhouse.
      Tbd Mountain Breeze Knoll, Blowing Rock, NC 28605
      View Details
    • $70,000

      Blowing Rock 1.3 Acre Lot

      Gently sloping 1.3 acre lot in Friendly Mountain Acres.
      Tbd Hews Circle, Blowing Rock, NC 28605
      View Details
    • $70,000

      Land in Friendly Mountain Acres

      Residential land in Blowing Rock, NC, with southern exposure.
      Tbd Hews Circle, Blowing Rock, NC 28605
      View Details

    FAQs

    What type of property is this?
    Land - Picturesque mountain creek front lots with long range views.
    Where is this land located?
    The property is located at R49 50/ 51 Hemlock Ridge Road Blowing Rock, NC.
    What is the asking price?
    The asking price for this property is $159,950.
    What are key features of this property?
    This property features: Blowing Rock Address for $159,950; Three picturesque mountain creek front lots combined with long range views; Located in the gated community of Lost Creek
    (828) 260-2272
    We can help!
    Listing Contact
    Robert Novacek
    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!