Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    1 Summit View Parkway Spruce Pine, NC 28777

    View on Map
    Claim this Listing
    For Sale
    $72,000

    LAND - Spruce Pine, NC

    Lot size:
    0.82 Acres
    Added:
    Sep 25, 2024
    Days on Market:
    590
    Last Refresh:
    May 7 at 4:06 am

    Property Features for 1 Summit View Parkway

    General Information

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

    We can help!

    Listing Contact
    Jacob Lumpkin
    Jacob Lumpkin

    Listing agent Jacob Lumpkin License #318411

    Listing office High Country Resort Properties 305 Crest Hill, Banner Elk, NC

    Listing date Sep 25, 2024

    MLS# 252210 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.

    HighLights

    • Gated community entrance for added security and privacy
    • Convenient location at the beginning of the neighborhood provides quick access to main roads
    • Underground utilities enhance the aesthetic appeal
    • Community amenities include a pond and fire pits for residents
    • Building site suitable for a mountain getaway or permanent home
    • Proximity to attractions like the Toe River, Linville Caverns/Falls/Gorge, Grandfather Mountain, and Beech/Sugar Ski Mountains

    Overview

    Serene Mountain Property in Spruce Pine

    Located in the Summit View development, this 0.817-acre property offers a building site suitable for a mountain home. The lot is positioned near the entrance of the neighborhood, providing convenient access to main roads. Summit View is a newer development that features a gated entrance and underground utilities. Community amenities include a pond and fire pits. The property is located a short distance from the town of Spruce Pine, Newland, and Linville, with attractions such as the Toe River, Linville Caverns and Falls and Gorge, Grandfather Mountain, and Beech and Sugar Ski Mountains nearby.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Spruce Pine
    County
    Mitchell
    State
    North Carolina
    Longitude
    -82.076
    Latitude
    35.8996

    Nearby Similar for Sale

    • $45,000

      Land with Mountain Views

      Build-ready lot with stunning mountain views near Little Switzerland.
      Walker Ridge, Spruce Pine, NC 28777
      View Details
    • $125,000

      Riverfront Land in Spruce Pine

      4.68 acres of riverfront property near Spruce Pine, NC.
      Vaughn Road, Spruce Pine, NC 28777
      View Details
    • $54,900

      Land in Alpine Mountain

      2.94-acre property with building sites and community amenities.
      Trails End Road lot: 27, Spruce Pine, NC 28714
      View Details
    • $189,180

      Mountain Land with Creek Headwaters

      4.2-acre mountain retreat with creek, views, and utilities.
      Shadowood Drive, Spruce Pine, NC 28777
      View Details
    • $22,000

      Picturesque Mountain Lot Opportunity

      Versatile lot near Blue Ridge Parkway with recreational opportunities.
      Orchard View Trail, Spruce Pine, NC 28777
      View Details
    • $30,000

      Spruce Pine Mountain Land

      1.75 acre lot in gated mountain community near amenities.
      Rainbow Trout Drive, Spruce Pine, NC 28777
      View Details
    • $220,140

      Land with Creek and Septic

      4.892 acre lot with creek, septic, near Spruce Pine.
      Pebble Ridge Road, Spruce Pine, NC 28777
      View Details
    • $149,000

      Spruce Pine Land with River Frontage

      5.44 acres with 835 feet of river frontage.
      River Way, Spruce Pine, NC 28777
      View Details
    • $37,000

      Unrestricted Wooded Mountain Parcel

      1.17+/- acre unrestricted lot near Blue Ridge Parkway.
      George McKinney Circle, Spruce Pine, NC 28777
      View Details
    • $79,000

      Spruce Pine Mountain Retreat Land

      One-acre lot near Linville, Banner Elk, and Blue Ridge Parkway.
      Clear Creek Drive, Spruce Pine, NC 28657
      View Details
    • $79,000

      Spruce Pine Land For Sale

      One-acre lot near Linville, Banner Elk, and Blue Ridge Parkway.
      Clear Creek Drive, Spruce Pine, NC 28657
      View Details
    • $95,000

      Spruce Pine Corner Lot

      1.37-acre corner lot near downtown Spruce Pine, NC.
      Monte Vista Circle, Spruce Pine, NC 28777
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Mountain property in Summit View, near attractions and towns.
    Where is this residential land & home lot located?
    The property is located at 1 Summit View Parkway Spruce Pine, NC.
    What is the asking price?
    The asking price for this property is $72,000.
    What are key features of this property?
    This property features: Gated community entrance for added security and privacy; Convenient location at the beginning of the neighborhood provides quick access to main roads; Underground utilities enhance the aesthetic appeal
    (828) 963-2342
    We can help!
    Listing Contact
    Jacob Lumpkin
    Jacob Lumpkin
    Real Estate License ID: 318411
    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

    Thank You for Inquiry
    1 Summit View Parkway, Spruce Pine, NC 28777
    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!