Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Grandy Commercial Land For Sale Title is generated by Realmo AI

    6410 Caratoke Highway, Grandy, NC 27939

    View on Map
    Claim this Listing
    For Sale
    $225,000

    1.64 acre commercial lot with high visibility on Caratoke Highway.

    Type:Land / Commercial
    Property size:
    71,655 SF
    Lot size:
    1.64 Acres
    Price / SF:
    $3/SF
    Added:
    May 4, 2024
    Days on Market:
    759
    Last Refresh:
    May 13 at 9:21 pm

    Property Features for 6410 Caratoke Highway

    General Information

    Standard status
    Active
    Size
    71,655 SF
    Lot size
    1.64 Acres
    Property subtype
    Land / Commercial

    We can help!

    Listing Contact
    Karen R Etheridge
    Karen R Etheridge

    Listing agent Karen R Etheridge License #192289

    Listing office Sun Realty - Kitty Hawk / Currituck

    Listing date May 4, 2024

    Source Compass

    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 Sun Realty - Kitty Hawk / Currituck

    HighLights

    • 1.64 Acre Lot with General Business Zoning
    • Approximately 258 feet of frontage on Caratoke Highway
    • High visibility location North of the ABC store
    • Potential for various business opportunities due to zoning
    • Opportunity to acquire adjacent property (MLS #126336) for a larger tract
    • Timber: Light

    Overview

    This 1.64-acre commercial land parcel is zoned General Business and features approximately 258 feet of frontage on Caratoke Highway. The property benefits from high visibility and is situated north of the ABC store. An adjacent property is also available for sale, presenting the option to combine the parcels for a larger tract.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Grandy
    County
    Currituck
    State
    North Carolina
    Longitude
    -75.8816007
    Latitude
    36.2434206

    Nearby Similar for Sale

    • $214,900

      Waterfront Lot with Sound Access

      Navigable canal-front lot with direct sound and Outer Banks access.
      105 N Mallard Court N lot: 17, Grandy, NC 27939
      View Details
    • $279,900

      Waterfront Land in Grandy, NC

      Waterfront oasis ready for your personal touches and summer enjoyment.
      118 Dolphin Court lot: 47, Grandy, NC 27939
      View Details
    • $279,900

      Waterfront Oasis in Grandy, NC

      Waterfront lot with camper, new bulkhead, decking, and fencing.
      118 Dolphin Court, Grandy, NC 27939
      View Details
    • $214,900

      Waterfront Lot with Sound Access

      Waterfront lot with canal access to Currituck Sound.
      105 N Mallard Court lot: 17, Grandy, NC 27939
      View Details
    • $424,900

      Grandy Commercial Land Opportunity

      11.47 acres with 1128 feet of road frontage.
      6842 Caratoke Highway lot: # 5, Grandy, NC 27939
      View Details
    • $165,000

      Double Canal Front Land

      Two canal front lots navigable to Currituck Sound.
      107 Reef Lane lot: 3 & 4, Grandy, NC 27939
      View Details
    • $200,000

      Grandy, NC Agricultural Land

      6 acres of agricultural land suitable for building a home.
      788 Grandy Road, Grandy, NC 27939
      View Details
    • $200,000

      Residential Land in Grandy, NC

      Residential land available in a quiet Grandy community.
      136 Shell Drive, Grandy, NC 27939
      View Details
    • $95,000

      Grandy, NC Golf Course Lot

      Level building lot with golf course views and community amenities.
      206 Augusta Drive lot: 73, Grandy, NC 27939
      View Details
    • $279,900

      Sound Front Lot in Grandy

      Waterfront lot with water and sewer in place.
      157 Dolphin Court lot: 26, Grandy, NC 27939
      View Details
    • $225,000

      Grandy, NC Commercial Land

      1.64 acre commercial lot with high visibility on Caratoke Highway.
      6410 Caratoke Highway lot: #4, Grandy, NC 27939
      View Details
    • $279,900

      Sound Front Lot in Grandy

      Sound front lot with water and sewer in place.
      157 Dolphin Court lot: 26, Grandy, NC 27939
      View Details

    FAQs

    What type of property is this?
    Commercial land - 1.64 acre commercial lot with high visibility on Caratoke Highway.
    Where is this commercial land located?
    The property is located at 6410 Caratoke Highway Grandy, NC.
    What is the asking price?
    The asking price for this property is $225,000.
    What are key features of this property?
    This property features: 1.64 Acre Lot with General Business Zoning; Approximately 258 feet of frontage on Caratoke Highway; High visibility location North of the ABC store
    (252) 202-3073
    We can help!
    Listing Contact
    Karen R Etheridge
    Karen R Etheridge
    Real Estate License ID: 192289
    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
    6410 Caratoke Highway, Grandy, NC 27939
    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!