Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Acreage Tract in Lexington City Title is generated by Realmo AI

    1 Harb Drive, Lexington, NC 27295

    View on Map
    Claim this Listing
    For Sale
    $495,000

    4.27 acres with road frontage, investment potential.

    Type:Land or Vacant Lot
    Lot size:
    4.20 Acres
    Added:
    Apr 19, 2023
    Days on Market:
    1144
    Last Refresh:
    Apr 5 at 9:55 pm

    Property Features for 1 Harb Drive

    General Information

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

    We can help!

    Listing Contact
    FRANKIE BYRD

    Listing agent FRANKIE BYRD License #171325

    Listing office PRICE REALTORS - NC HWY 8

    Listing date Apr 19, 2023

    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 PRICE REALTORS - NC HWY 8

    HighLights

    • Large acreage: 4.27 acres within city limits.
    • Great investment potential due to upcoming Winston Road widening.
    • Road frontage on three streets (Conrad St., White Street, and Longview).
    • Multiple tax parcels included (11‑008‑0‑000‑0312 and 11‑008‑0‑000‑307B).
    • Suitable for redevelopment (existing home of no value).
    • Maps and information available.

    Overview

    This acreage tract is located in the city, just off Winston Rd. The property is approximately 4.27 acres and has road frontage on Conrad St., White Street, and Longview. This property is suitable for investment, especially with the Winston Road widening planned for the near future. The home on the property has been abandoned and is considered to have no real value. The property also includes Tax parcels 11-008-0-000-0312 and 11-008-0-000-307B.
    Property Profile Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Restaurant Real Estate Agency Building Supply Big Box & Wholesale Store Auto Repair Shop Nail Salon Hotel & Motel Gym & Fitness Center Auto Parts Store Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Davidson
    State
    North Carolina
    Longitude
    -80.2515
    Latitude
    35.8433

    Nearby Similar for Sale

    • $349,900
      2,100 SF

      Lexington Commercial Building For Sale

      High-traffic location, multiple offices, storage, and ample parking.
      3995 Old US Highway 52, Lexington, NC 27295
      View Details
    • $565,000

      High-Visibility Commercial Land in Lexington

      Highly visible 1.39-acre commercial land in high-traffic Lexington location.
      10 Burler Street, Lexington, NC 27292
      View Details
    • $1,200,000

      Commercial Acreage with Multi-Street Frontage

      Two-acre commercial tract at a stoplight intersection with additional road frontage for flexible development planning.
      1409 Winston Road, Lexington, NC 27292
      View Details
    • $649,999
      2,850 SF

      Lexington Car Wash Opportunity

      Car wash with laser wash and hand wash bays.
      1544 Old US Highway 52, Lexington, NC 27295
      View Details
    • $250,000
      1,925 SF

      Commercial Property on Corner Lot

      Commercial property on a corner lot, convenient location.
      1240 Fairview Drive, Lexington, NC 27292
      View Details
    • $450,000
      2,442 SF

      Move-in Ready Office Building

      High-visibility office building with flexibility for various business uses.
      10362 Nc Highway 8, Lexington, NC 27292
      View Details
    • $400,000

      Lexington Land Development Opportunity

      Prime .98-acre parcel with Main Street frontage in Lexington, NC.
      S Main Street, Lexington, NC 27292
      View Details
    • $524,000

      Waterfront Land with Long-Range Views

      Waterfront lot with septic permit and dock eligibility.
      219 Sailors Rest Drive, Lexington, NC 27292
      View Details
    • $1.00
      1,500 SF

      Lexington Office Space Available

      Office space featuring private offices, reception area, and HVAC.
      102-C W 1st Avenue, Lexington, NC 27292
      View Details
    • $474,000

      Waterfront Land with Long Views

      2.05 acre waterfront lot in private community.
      245 Sailors Rest Drive, Lexington, NC 27292
      View Details
    • $189,000

      Lexington Home with No Restrictions

      Home with recent updates and no deed restrictions, sold as-is.
      620 Frank Fleer Road, Lexington, NC 27292
      View Details
    • $495,000

      Lexington Land Investment Opportunity

      Acreage tract in city with road frontage, great investment.
      1 Harb Drive, Lexington, NC 27295
      View Details

    FAQs

    What type of property is this?
    Land - 4.27 acres with road frontage, investment potential.
    Where is this land located?
    The property is located at 1 Harb Drive Lexington, NC.
    What is the asking price?
    The asking price for this property is $495,000.
    What are key features of this property?
    This property features: Large acreage: **4.27 acres within city limits.**; Great investment potential due to upcoming Winston Road widening.; Road frontage on three streets (Conrad St., White Street, and Longview).
    (336) 798-3750
    We can help!
    Listing Contact
    FRANKIE BYRD
    Real Estate License ID: 171325
    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

    Thank You for Inquiry
    1 Harb Drive, Lexington, NC 27295
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!