Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    River Landing Homesite Opportunity Title is generated by Realmo AI

    116 Magnolia Bay Lane lot 402, Wallace, NC 28466

    View on Map
    Claim this Listing
    New
    For Sale
    Contact for pricing

    LAND - Wallace, NC

    Lot size:
    0.30 Acres
    Added:
    May 9, 2026
    Days on Market:
    1
    Last Refresh:
    May 9 at 1:06 pm

    Property Features for 116 Magnolia Bay Lane lot 402

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Residential
    Standard status
    Active
    APN
    092297
    Lot size
    0.30 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    Being all of Lot 402, Magnolia Bay at River Landing
    Tax Annual Amount
    132

    We can help!

    Listing Contact
    Mitchell S Williams

    Listing agent Mitchell S Williams License #237992

    Listing office Coldwell Banker Sea Coast Advantage-Leland 481 Olde Waterford Way Ste 104, Wilmington, NC

    Listing date May 9, 2026

    MLS# 100572659 Listing URL

    Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Located in the gated golf community of River Landing, Magnolia Bay.
    • Homesite is 0.30 acres, offering space and privacy.
    • Access to River Landing amenities: walking trails, 63 ponds, River Lodge with kayak access.
    • Optional club memberships with access to golf courses, pool, fitness center, tennis, and pickleball.
    • Close proximity to Wilmington (35 minutes) and area beaches (45 minutes).
    • Two 'Top 50' championship golf courses.

    Overview

    This 0.30-acre homesite is located within the gated golf community of River Landing, in the Magnolia Bay neighborhood. The property offers a setting suitable for designing and building a home. The lot provides space and privacy within the golf-friendly neighborhood, which features walking trails and natural beauty. Residents can enjoy an active lifestyle with access to walking and biking trails, 63 ponds for fishing, and the River Lodge with kayak access to the Northeast Cape Fear River. River Landing offers optional club memberships and is home to two NC Golf Panel ''Top 50'' championship courses, along with club amenities. Members have access to an outdoor pool, fitness center, tennis and pickleball courts, and a social atmosphere. Dining options include the clubhouse and a grille and bar. The property is located a short drive from area beaches, Wilmington, and Raleigh.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Gym & Fitness Center Hotel & Motel Kitchen & Bath Showroom Grocery & Convenience Store Electrical Service Wine and Liquor Store Plumbing Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Wallace
    County
    Duplin
    State
    North Carolina
    Longitude
    -77.9395567
    Latitude
    34.757149

    Nearby Similar for Sale

    • $450,000
      2,800 SF

      Wallace Commercial Opportunity with RV Park

      Commercial building and RV park with expansion potential in Wallace.
      4509 Carolina 41, Wallace, NC 28466
      View Details
    • $500,000

      Prime Commercial Land For Sale

      High-visibility 1-acre commercial land near I-40 in Wallace, NC.
      5572 S Nc 41 Highway, Wallace, NC 28466
      View Details
    • $17,500

      River Landing Lot For Sale

      0.47 acre lot in River Landing waterfront community.
      195 Long Leaf Drive, Wallace, NC 28466
      View Details
    • $15,000

      Wooded Homesite in Gated Community

      0.30-acre wooded homesite in River Landing golf community.
      117 Cedar Point Drive, Wallace, NC 28466
      View Details
    • $24,800

      Residential Lot in Gated Community

      Residential lot with resort-style amenities in Wallace, North Carolina.
      121 W Grandiflora Drive, Wallace, NC 28466
      View Details
    • $55,000

      Pond-Front Homesite in Gated Community

      0.36-acre pond-front homesite in a desirable gated golf community.
      153 Falls Landing Way, Wallace, NC 28466
      View Details
    • $52,000

      River Landing Homesite with Golf Views

      Homesite in River Landing with golf course views.
      289 River Ridge Drive, Wallace, NC 28466
      View Details
    • $37,500

      Residential Land with Pond View

      Residential parcel with tranquil sunset view in River Landing.
      178 Sycamore Lakes Drive lot: 985R, Wallace, NC 28466
      View Details
    • $85,000

      Versatile Land in Wallace, NC

      10.84 acres of wooded land perfect for recreation.
      1827 Lightwood Bridge Road, Wallace, NC 28466
      View Details
    • $50,000

      Fairway Homesite in Gated Community

      Homesite on golf course with water views in Wallace, NC.
      132 Falls Landing Way lot: F-7, Wallace, NC 28466
      View Details
    • $49,000

      Pond-Front Homesite in Gated Community

      0.58-acre pond-front homesite in River Landing golf community.
      136 Sugar Maple Court lot: 346R, Wallace, NC 28466
      View Details
    • $42,000

      Homesite on Golf Course Fairway

      Homesite in River Landing with golf course views.
      118 Pilot House Drive lot: 218, Wallace, NC 28466
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 0.30-acre homesite in River Landing golf community.
    Where is this residential land & home lot located?
    The property is located at 116 Magnolia Bay Lane lot 402 Wallace, NC.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Located in the gated golf community of River Landing, Magnolia Bay.; Homesite is 0.30 acres, offering space and privacy.; Access to River Landing amenities: walking trails, 63 ponds, River Lodge with kayak access.
    (910) 990-0113
    We can help!
    Listing Contact
    Mitchell S Williams
    Real Estate License ID: 237992
    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
    116 Magnolia Bay Lane lot: 402, Wallace, NC 28466
    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!