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

    Lot 1 Cheeks Quarter Henderson, NC 27537

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $264,900

    40-acre tract near Franklinton with road frontage and wooded area.

    Type:Land or Vacant Lot
    Lot size:
    40.80 Acres
    Added:
    Nov 17, 2025
    Days on Market:
    155
    Last Refresh:
    Apr 5 at 10:10 pm

    Property Features for Lot 1 Cheeks Quarter

    General Information

    Standard status
    Active
    Lot size
    40.80 Acres
    Property subtype
    Land or Vacant Lot

    We can help!

    Listing Contact
    JOSHUA FIELDS

    Listing agent JOSHUA FIELDS

    Listing office COMPASS -- RALEIGH

    Listing date Nov 17, 2025

    Source Corcoran

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of COMPASS -- RALEIGH

    Overview

    40 Acres Near Motocross Track

    This 40-acre tract offers privacy and natural beauty. Located approximately 25 minutes from downtown Franklinton, the property features about 300 feet of road frontage and extends nearly a mile deep. Approximately three-quarters of the land is wooded, creating a secluded setting. The parcel adjoins a North Carolina motocross track, with a portion of the track located on the property. This acreage offers potential for a range of uses.
    Location Intelligence

    Current Use by Public Records

    Recreation land

    Map

    City
    Henderson
    County
    Vance
    State
    North Carolina
    Longitude
    -78.2619
    Latitude
    36.2448

    Nearby Similar for Sale

    • $450,000
      4,880 SF

      Turnkey Auto Body Shop

      Fully operational auto body shop on 0.42 acres.
      3688 Raleigh Road, Henderson, NC 27537
      View Details
    • $650,000
      13,800 SF

      Redevelopment Opportunity in Henderson, NC

      Former hotel with redevelopment potential near downtown Henderson, NC.
      1010 S Garnett Street, Henderson, NC 27536
      View Details
    • $209,000
      3,000 SF

      Henderson Commercial Property For Sale

      Commercial building with service garage in high-traffic Henderson location.
      1363/1365 N Garnett Street, Henderson, NC 27536
      View Details
    • $25,000

      Versatile Lots in Growing Area

      Two adjoining lots totaling 0.43 acres with versatile zoning.
      210/212 N Shank Street, Henderson, NC 27536
      View Details
    • $150,000

      Commercial Land in Henderson, NC

      Commercial land with road frontage in Henderson, North Carolina.
      1722 Vicksboro Road, Henderson, NC 27536
      View Details
    • $399,000

      Kerr Lake Acreage with Access

      46 acres with lake access in gated community.
      001 Scott Lane, Henderson, NC 27537
      View Details
    • $650,000
      2,644 SF

      Kerr Lake Farmhouse on Acres

      Kerr Lake farmhouse on 5.81 acres with lake access.
      675 Anderson Creek Road, Henderson, NC 27537
      View Details
    • $158,000

      Waterfront Lot in Gated Community

      0.83-acre waterfront lot with dock slip in Henderson, NC.
      158 S B Harrison Lane, Henderson, NC 27537
      View Details
    • $164,900
      1,456 SF

      Income-Producing Duplex in Henderson, NC

      Fully leased duplex with immediate cash flow and growth potential.
      228 Crozier Street, Henderson, NC 27536
      View Details
    • $75,000

      Residential Land with Lake Access

      Cleared lot with Kerr Lake access and shared dock.
      Cedar Cove Road, Henderson, NC 27537
      View Details
    • $75,000

      Kerr Lake Access Interior Lot

      Cleared lot with Kerr Lake access and shared dock.
      0 Cedar Cove Road, Henderson, NC 27537
      View Details
    • $480,000
      488 SF

      Rental Homes Portfolio Opportunity

      Portfolio of seven single-family rental homes plus one vacant lot.
      650 Marshall Street, Henderson, NC 27536
      View Details

    FAQs

    What type of property is this?
    Recreation land - 40-acre tract near Franklinton with road frontage and wooded area.
    Where is this recreation land located?
    The property is located at Lot 1 Cheeks Quarter Henderson, NC.
    What is the asking price?
    The asking price for this property is $264,900.
    What are key features of this property?
    This property features: Owner willing to carry the note.; Expansive 40‑acre tract.; Approximately 300 feet of road frontage.
    (919) 726-6548
    We can help!
    Listing Contact
    JOSHUA FIELDS
    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!