Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Golf Course Lot Overlooking Green Title is generated by Realmo AI

    N 17 Mills Creek Trace, Lake Toxaway, NC 28747

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $250,000

    0.75 acre golf course lot with golf frontage.

    Type:Land or Vacant Lot
    Lot size:
    0.75 Acres
    Added:
    Jul 23, 2024
    Days on Market:
    666
    Last Refresh:
    Apr 5 at 10:15 pm

    Property Features for N 17 Mills Creek Trace

    General Information

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

    We can help!

    Listing Contact
    ROSS HYETT

    Listing agent ROSS HYETT

    Listing office LAKE TOXAWAY CO.

    Listing date Jul 23, 2024

    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 LAKE TOXAWAY CO.

    HighLights

    • Overlooks #3 green with 184’ of golf frontage and easy golf cart path access.
    • .75 acre gently sloping lot.
    • Active 4 bedroom septic permit on file.
    • Topographical survey and tree identification available.
    • Boundary survey available.
    • Close proximity to world class amenities and Lake Toxaway Marina.

    Overview

    This 0.75-acre lot gently slopes and overlooks the #3 green of a golf course. It features over 184 feet of golf frontage, providing easy access to the golf cart path. A boundary survey, topographical survey with tree identification, and an active 4-bedroom septic permit are available. The lot is located in close proximity to amenities and the Lake Toxaway Marina. Membership to the local country club is based on availability and application.
    Location Intelligence

    Current Use by Public Records

    Recreation land

    Suggested Use

    Restaurant Spa & Massage Center Hotel & Motel Cafe & Coffee Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake Toxaway
    County
    Transylvania
    State
    North Carolina
    Longitude
    -82.9621
    Latitude
    35.1398

    Nearby Similar for Sale

    • $89,500
      2,308 SF

      Lake Toxaway Homesite Opportunity

      1.27-acre homesite in Lake Toxaway Estates community.
      Summit Ridge Road lot: 29, Lake Toxaway, NC 28747
      View Details
    • $350,000

      Unrestricted Land in Lake Toxaway

      7+ acres with mountain views, well, septic, and barn.
      181 Pathkiller Road, Lake Toxaway, NC 28747
      View Details
    • $50,000

      Lake Toxaway Homesite Opportunity

      0.92-acre homesite near Toxaway Falls and Gorges State Park.
      999 Flat Creek Valley Road, Lake Toxaway, NC 28747
      View Details
    • $725,000
      3,056 SF

      Lake Toxaway Flex Warehouse

      3,056 SF flex warehouse on 1.12 acres for sale.
      13480 Rosman Highway, Lake Toxaway, NC 28747
      View Details
    • $33,900

      Ready Homesite Near Lake Toxaway

      Prepared homesite in upscale community near Lake Toxaway.
      Indian Lake Road, Lake Toxaway, NC 28747
      View Details
    • $165,000

      Lake Toxaway Homesite with Views

      Homesite with mountain views and lake access in Lake Toxaway.
      LS 14 Lakeside Drive lot: Ls 14, Lake Toxaway, NC 28747
      View Details
    • $299,000

      Lake Toxaway Land Opportunity

      4.5 acres of woodlands near Lake Toxaway, NC.
      Kim Miller Road lot: 5, Lake Toxaway, NC 28747
      View Details
    • $79,000

      Land Backing Pisgah National Forest

      2.94 acre lot backing Pisgah National Forest in Lake Toxaway.
      Diamond Creek Road, , NC 28747
      View Details
    • $159,000

      Lake Toxaway Mountain Top Lot

      4.5 acre partially cleared lot with lake access.
      MR51 Meadow Ridge Dr lot: Mr51, Lake Toxaway, NC 28747
      View Details
    • $75,000

      Lakeside Mountain Homesite Opportunity

      1.03-acre homesite in Lake Toxaway with potential lake and mountain views.
      LS 25 Lakeside Trail lot: 25, Lake Toxaway, NC 28747
      View Details
    • $350,000

      Unrestricted Land in Lake Toxaway

      7+ acres with mountain views, well, septic, and metal barn.
      181 Pathkiller Road, Lake Toxaway, NC 28747
      View Details
    • $795,000

      Lake Toxaway Golf Course Homesite

      2.77-acre homesite with golf course views and creek frontage.
      L 9A R Old Mine Point lot: 9A R, Lake Toxaway, NC 28747
      View Details

    FAQs

    What type of property is this?
    Recreation land - 0.75 acre golf course lot with golf frontage.
    Where is this recreation land located?
    The property is located at N 17 Mills Creek Trace Lake Toxaway, NC.
    What is the asking price?
    The asking price for this property is $250,000.
    What are key features of this property?
    This property features: Overlooks #3 green with 184’ of golf frontage and easy golf cart path access.; .75 acre gently sloping lot.; Active 4 bedroom septic permit on file.
    (828) 966-4260
    We can help!
    Listing Contact
    ROSS HYETT
    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
    N 17 Mills Creek Trace, Lake Toxaway, NC 28747
    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!