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 10 Pasture Lane Banner Elk, NC 28604

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $65,000

    Residential building lot with mountain views and community amenities.

    Added:
    Jun 4, 2025
    Days on Market:
    305
    Last Refresh:
    Mar 16 at 9:09 am

    Property Features for Lot 10 Pasture Lane

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    SARAH WHITFIELD

    Listing agent SARAH WHITFIELD

    Listing office PREMIER SOTHEBY'S INTERNATIONAL REALTY- BANNER ELK

    Listing date Jun 4, 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 PREMIER SOTHEBY'S INTERNATIONAL REALTY- BANNER ELK

    Overview

    Building Lot in Banner Elk

    This .23-acre building lot, identified as Lot 10 on Pasture Lane, is situated within The Farm at Banner Elk, a gated community. The property is ready for construction, with water, sewer, and underground utilities already in place. It offers mountain views and access to community amenities, including streams, stocked trout ponds, walking trails, and an outdoor pavilion with a fireplace. The location provides convenient access to downtown Banner Elk's shops and dining options, as well as proximity to Linville, Grandfather Mountain, the Blue Ridge Parkway, ASU, LMC, and ski resorts such as Beech, Sugar, and Appalachian. The annual POA dues are $1,775.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Real Estate Agency Law Firm Dental Office Building Supply Spa & Massage Center Hair Salon Auto Repair Shop Big Box & Wholesale Store Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Banner Elk
    County
    Watauga
    State
    North Carolina
    Longitude
    -81.8571
    Latitude
    36.1521

    Nearby Similar for Sale

    • $1,200,000

      Versatile Valle Crucis Commercial Estate

      5,100 sq ft property suitable for various business ventures.
      1644 Broadstone Road, Banner Elk, NC 28604
      View Details
    • $339,999

      Land with Infrastructure Near Banner Elk

      8.74 acres with utilities ready for building near Banner Elk.
      149 Painter Road, Banner Elk, NC 28604
      View Details
    • $135,000

      Ready-to-Build Land with Mountain Views

      Exceptional 2.11-acre lot near Banner Elk with trout stream.
      Lot 29 Lee Gualtney Road, Banner Elk, NC 28604
      View Details
    • $79,000

      Land with Septic and Well

      Two lots with permits near Main Street in Banner Elk.
      Lots 39 And 40 Snow Ridge Road, Banner Elk, NC 28604
      View Details
    • $275,000

      2.82 Acres with Mountain Views

      Estate lot with mountain views, ready-to-use septic permit.
      515 Grey Fox Ridge Road, Banner Elk, NC 28604
      View Details
    • $84,900

      Land with Mountain Views

      Two lots with mountain views near Banner Elk, NC.
      Lots 37 And 38 Snow Ridge Road, Banner Elk, NC 28604
      View Details
    • $110,000

      Land in Premier Banner Elk

      Two lots totaling 0.94 acres in Banner Elk, NC.
      31 & 32 Running Bear Circle, Banner Elk, NC 28604
      View Details
    • $55,000

      Level Lot in Banner Elk

      Level lot with creek, easy build, short-term rentals allowed.
      Lot 3 Larkspur Trail, Banner Elk, NC 28604
      View Details
    • $420,000

      Blue Ridge Mountain Dream Home Site

      4.17 acre homesite with long range mountain views.
      30 Summit Park, Banner Elk, NC 28604
      View Details
    • $150,000

      Banner Elk Land Opportunity

      Scenic lot in growing mountain community near Banner Elk.
      Lot 36 Running Bear Circle, Banner Elk, NC 28604
      View Details
    • $99,000

      Land with Mountain Views

      Two lots with views and septic permit near Banner Elk.
      Lots 35 And 36 Snow Ridge Road, Banner Elk, NC 28604
      View Details
    • $450,000

      Premier Homesite with Mountain Views

      Dream homesite in gated community with long-range mountain views.
      Lot 36 Summit Park Drive, Banner Elk, NC 28604
      View Details

    FAQs

    What type of property is this?
    Land - Residential building lot with mountain views and community amenities.
    Where is this land located?
    The property is located at Lot 10 Pasture Lane Banner Elk, NC.
    What is the asking price?
    The asking price for this property is $65,000.
    What are key features of this property?
    This property features: Ready to build: Water, sewer, and underground utilities are already in place.; Enjoy beautiful mountain views.; Access to park‑like amenities: streams, stocked trout ponds, walking trails, and an outdoor pavilion with a fireplace.
    (828) 260-2929
    We can help!
    Listing Contact
    SARAH WHITFIELD
    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!