Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Lake Royale Double Lot Title is generated by Realmo AI

    120 Pawnee Drive, Louisburg, NC 27549

    View on Map
    Claim this Listing
    New
    For Sale
    $129,000

    LAND - Louisburg, NC

    Lot size:
    0.28 Acres
    Added:
    May 19, 2026
    Days on Market:
    2
    Last Refresh:
    May 20 at 5:06 am

    Property Features for 120 Pawnee Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    FCO R-30
    Vegetation
    Partially Wooded
    Standard status
    Active
    APN
    023708
    Lot size
    0.28 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    2006 Breckenridge Park Model Camper On Lot
    Tax Annual Amount
    623

    Utilities

    Utilities
    Cable Available
    Sewer type
    Septic Tank

    We can help!

    Listing Contact
    Sharon Brackins

    Listing agent Sharon Brackins License #221448

    Listing office RE/MAX Legacy 331 S White Street, Wake Forest, NC

    Listing date May 19, 2026

    MLS# 10168232 Listing URL

    Copyright © 2026 Doorify 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

    • Double lot in Lake Royale, offering ample space and potential.
    • Includes a 2006 Breckenridge 1 bedroom, 1 bath camper with a large front porch.
    • Features a large 12X24 shed with a lean‑to and attached porch.
    • Gorgeous landscaping enhances the natural beauty of the lot.
    • Located in Lake Royale, a gated community on a 345‑acre lake.
    • Access to Lake Royale amenities, including a golf course, clubhouse, beaches, and boat launch.

    Overview

    This property features one of the prettiest double lots in Lake Royale, enhanced with gorgeous landscaping that complements the natural surroundings. The lot includes a 2006 Breckenridge camper with 1 bedroom and 1 bath, along with a large front porch. A 12X24 shed with a lean-to and attached porch is also located on the property. Lake Royale is a gated community situated on a 345-acre lake, offering amenities such as a golf course, clubhouse, beaches, and a boat launch.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Louisburg
    County
    Franklin
    State
    North Carolina
    Longitude
    -78.2363
    Latitude
    36.0721

    Nearby Similar for Sale

    • $169,900

      Woodland Park Home Near Lake

      Like-new park model home in Lake Royale community.
      112 Mustang Drive, Louisburg, NC 27549
      View Details
    • $104,900

      Turnkey Lake Royale Retreat

      Move-in ready Lake Royale retreat with complete utilities and RV.
      105 Red Oak Drive, Louisburg, NC 27549
      View Details
    • $42,000

      Lake Royale Corner Lot

      Corner lot in Lake Royale with septic and water hookup.
      121 Mustang Drive, Louisburg, NC 27549
      View Details
    • $89,900

      Lake Royale Camp Lot

      Camp lot with amenities in Lake Royale gated community.
      105 Big Horn Drive, Louisburg, NC 27549
      View Details
    • $49,000

      Land with Camper Near Lake

      Cozy property with camper near Lake Royale amenities.
      105 Catoose Drive, Louisburg, NC 27549
      View Details
    • $350,000

      Land with Working Wells

      Five acre land parcel with four working wells.
      50 Nipper Lane, Louisburg, NC 27549
      View Details
    • $137,751

      Franklin County Land For Sale

      8+ acre lot in rural Franklin County, North Carolina.
      Laurel Mill Road, Louisburg, NC 27549
      View Details
    • $135,000

      5.7 Acres Building Lot

      5.7 acre building lot with road frontage in Louisburg, NC.
      1280 Schloss Rd, Louisburg, NC 27549
      View Details
    • $600,000

      30 Acres of Farmland

      30-acre farmland with road frontage in Louisburg, North Carolina.
      294 Hight Road, Louisburg, NC 27549
      View Details
    • $950,000

      Ready-to-Build Lots in Growing Community

      10-acre property divided into ready-to-build lots in Marshall Landing.
      10 Skyline Drive, Louisburg, NC 27549
      View Details
    • $500,000
      4,680 SF

      Multi-Business Opportunity on 10 Acres

      Former convenience store, laundromat, and car wash on 10 acres.
      750 Edward Best, Louisburg, NC 27549
      View Details
    • $79,500

      Lake Royale Triple Lot

      Cleared 0.33-acre lot with RV hookups and hot tub.
      124 Kansas Drive, Louisburg, NC 27549
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Gorgeous landscaped double lot in Lake Royale community.
    Where is this residential land & home lot located?
    The property is located at 120 Pawnee Drive Louisburg, NC.
    What is the asking price?
    The asking price for this property is $129,000.
    What are key features of this property?
    This property features: Double lot in Lake Royale, offering ample space and potential.; Includes a 2006 Breckenridge 1 bedroom, 1 bath camper with a large front porch.; Features a large 12X24 shed with a lean‑to and attached porch.
    (252) 432-2978
    We can help!
    Listing Contact
    Sharon Brackins
    Real Estate License ID: 221448
    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
    120 Pawnee Drive, Louisburg, NC 27549
    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!