Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Lake Lure Wooded Acres Title is generated by Realmo AI

    0000 Justice Drive, Lake Lure, NC 28746

    View on Map
    Claim this Listing
    For Sale
    $59,500

    4.94 wooded acres near Lake Lure and Chimney Rock.

    Type:Lots/Land
    Lot size:
    4.94 Acres
    Added:
    Aug 3, 2023
    Days on Market:
    1035
    Last Refresh:
    May 19 at 8:41 pm

    Property Features for 0000 Justice Drive

    General Information

    Standard status
    Active
    Lot size
    4.94 Acres
    Property subtype
    Lots/Land

    We can help!

    Listing Contact
    David Caulder
    David Caulder

    Listing agent David Caulder License #75204

    Listing office Caulder Realty & Land Co.

    Listing date Aug 3, 2023

    Source Exitrealty

    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 Caulder Realty & Land Co.

    HighLights

    • 4.94 wooded acres offering privacy.
    • Ridge top building site.
    • Minutes from Lake Lure, town, and Chimney Rock State Park.
    • No HOA dues.
    • Minimum 950 sq ft building requirement.
    • Price: $59,500.

    Overview

    This property features 4.94 wooded acres located near Lake Lure and Chimney Rock State Park. The acreage offers a ridge top building site. A minimum building size of 950 square feet is required. There are no HOA dues. The property is located minutes from town.
    Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Gym & Fitness Center Hotel & Motel Skin Care Clinic (Bike/Boat/Book/etc) Store Acupuncture Arcade & Gaming Center Bed & Breakfast

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake Lure
    County
    Rutherford
    State
    North Carolina
    Longitude
    -82.179515
    Latitude
    35.418124

    Nearby Similar for Sale

    • $998,000

      Lakefront Land in Rumbling Bald Resort

      Two-acre lakefront build site with new dock in gated community.
      004-005 Quail Ridge Boulevard, Lake Lure, NC 28746
      View Details
    • $339,000

      Lake Lure Waterfront Land

      3.64 acre lakefront lot with 150 feet of lakefront.
      595 Quail Ridge Boulevard, Lake Lure, NC 28746
      View Details
    • $121,900

      Lake Lure Motorcoach Resort Lot

      Luxury motorcoach resort lot with mountain views and amenities.
      104 Willis Way, Lake Lure, NC 28746
      View Details
    • $595,000

      Lake Lure Waterfront Land

      Lakefront lot with mountain and lake views in gated community.
      Holmstead Drive, Lake Lure, NC 28746
      View Details
    • $39,000

      Lake Lure Homesite Opportunity

      Gently sloping homesite in Rumbling Bald on Lake Lure.
      Cardinal Road lot: 301, Lake Lure, NC 28746
      View Details
    • $36,900

      Lake Lure Mountain Homesite

      2.76-acre wooded homesite near Lake Lure and Chimney Rock.
      Island Creek Road, Lake Lure, NC 28746
      View Details
    • $1,000,000
      100,000 SF

      250 Herman Wilson Rd, Lake Lure, NC 28746

      250 Herman Wilson Rd, Lake Lure, NC 28746
      View Details
    • $59,900

      Lake Lure Buildable Double Lot

      1.64-acre lot in Rumbling Bald Resort, Lake Lure, NC.
      004 High Road Court, Lake Lure, NC 28746
      View Details
    • $120,000

      Lake Lure Class A Lot

      Oversized Class A Motor Coach lot with mountain views.
      133 Cornell Circle, Lake Lure, NC 28746
      View Details
    • $30,000

      Lake Lure Mountain View Land

      1.5-acre lot with mountain views in Lake Lure, NC.
      High Rock Ridge lot: 8, Lake Lure, NC 28746
      View Details
    • $495,000

      Lake Lure Waterfront Land

      Lakefront land with mountain views, near Lake Lure amenities.
      Chapel Point Road, Lake Lure, NC 28746
      View Details
    • $195,000

      Vista at Bills Mountain Land

      1.46 acre lot with mountain views near Lake Lure.
      Golden Ridge Drive, Lake Lure, NC 28746
      View Details

    FAQs

    What type of property is this?
    Land - 4.94 wooded acres near Lake Lure and Chimney Rock.
    Where is this land located?
    The property is located at 0000 Justice Drive Lake Lure, NC.
    What is the asking price?
    The asking price for this property is $59,500.
    What are key features of this property?
    This property features: 4.94 wooded acres offering privacy.; Ridge top building site.; Minutes from Lake Lure, town, and Chimney Rock State Park.
    (828) 429-2444
    We can help!
    Listing Contact
    David Caulder
    David Caulder
    Real Estate License ID: 75204
    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
    0000 Justice Drive, Lake Lure, NC 28746
    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!