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    unit 123 & 124 Elliotts Loop Bakersville, NC 28705

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    LAND - Bakersville, NC

    Lot size:
    3.31 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 19 at 10:06 pm

    Property Features for unit 123 & 124 Elliotts Loop

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    0855-03-00-6885
    Lot size
    3.31 Acres

    We can help!

    Listing Contact
    Joshua Huskins

    Foxfire Real Estate LLC (828) 766-7221

    Listing agent Joshua Huskins (828) 284-4566

    Listing date Mar 18, 2026

    MLS# 4355998 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

    Wooded Land in Gated Community

    Located in the Bear Ridge community in Bakersville, NC, this 3.31-acre wooded lot offers privacy and nature. With some clearing, the lot has great potential for mountain views. Bear Ridge is a gated mountain community with annual dues of $500 ($250 per lot) and a minimum build requirement of 850 square feet. Manufactured and modular homes are not permitted. Short-term rentals are allowed according to community guidelines. The community features two common areas for property owners to enjoy. One common area is located along Bold Little Rock Creek, a wildlife trout stream suitable for fishing, relaxing, or wading. The second common area includes a pavilion and gathering space suitable for community or family events. The area is surrounded by natural beauty and outdoor recreation. Roan Mountain, trout streams, and hiking opportunities are all nearby. Wildlife is common in the area, including deer, squirrels, and black bear. While the community offers privacy and a quiet mountain setting, it is within about an hour of Johnson City and Bristol to the north, Asheville to the south, and the Boone, Banner Elk, and Blowing Rock area to the east. Lake James is a little over an hour away.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Bakersville
    County
    Mitchell
    State
    North Carolina
    Longitude
    -82.21135975
    Latitude
    36.04594562

    Nearby Similar for Sale

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    FAQs

    What type of property is this?
    Residential land & home lot - 3.31-acre wooded lot in Bear Ridge community, Bakersville, NC.
    Where is this residential land & home lot located?
    The property is located at unit 123 & 124 Elliotts Loop Bakersville, NC.
    What is the asking price?
    The asking price for this property is $19,999.
    What are key features of this property?
    This property features: - Gated mountain community with **two common areas**: one along Bold Little Rock Creek (a trout stream) and another with a pavilion and gathering space.; - Potential for **mountain views** with some clearing on the wooded lot.; - Convenient access to outdoor recreation: Roan Mountain, trout streams, and hiking nearby.
    (828) 284-4566
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    unit 123 & 124 Elliotts Loop Bakersville, NC 28705
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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
    unit 123 & 124 Elliotts Loop Bakersville, NC 28705
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    We can help!
    Listing Contact
    Joshua Huskins
    Real Estate License ID: 305195
    (828) 284-4566 (828) 766-9509 (828) 766-7221
    Learn more
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