Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    148 Buckaroo Drive Louisburg, NC 27549

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $40,000

    Resort lot in a gated lake community.

    Type:Land / Unimproved Land
    Added:
    Jan 27, 2025
    Days on Market:
    448
    Last Refresh:
    Mar 13 at 12:44 pm

    Property Features for 148 Buckaroo Drive

    General Information

    Standard status
    Active
    Property subtype
    Land / Unimproved Land

    We can help!

    Listing Contact
    Hilda Parler
    Hilda Parler

    Listing agent Hilda Parler License #239797

    Listing office PARLER PROPERTIES LLC

    Listing date Jan 27, 2025

    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 PARLER PROPERTIES LLC

    Overview

    Lake Royale Resort Lot

    This property is located within the gated Lake Royale community, which offers a range of amenities and activities. Residents have access to a clubhouse, pavilion, boating, swimming, fishing, tennis courts, two beaches, a swimming pool, mail facility, and police department. Planned events are regularly scheduled. Boating is facilitated by available docks. An 18-hole golf course, pro shop, restaurant, and golf carts are located on the golf side of the community. The property is intended for recreational use.
    Location Intelligence

    Current Use by Public Records

    Recreation land

    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

    • $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
    • $89,900

      Lake Royale Camp Lot

      Camp lot with amenities in Lake Royale gated community.
      105 Big Horn 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
    • $50,000

      Louisburg Corner Lot For Sale

      1.3-acre corner lot in Louisburg, ready for your vision.
      10 Sutton Road, Louisburg, NC 27549
      View Details
    • $27,990

      Half-Acre Wooded Basement Lot

      Serene, build-ready lot with access to resort-style amenities.
      144 Oswego Drive, 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
    • $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
    • $89,900

      Lake Royale Waterfront Land

      Waterfront land with camper and kayaks at Lake Royale.
      1507 Sagamore Drive, Louisburg, NC 27549
      View Details
    • $14,000

      Wooded Lot in Lake Royale

      0.49-acre wooded lot in gated Lake Royale community.
      111 White Horse Drive, Louisburg, NC 27549
      View Details
    • $849,900

      Land For Sale in Louisburg

      Three tracts of land totaling 59.32 acres in Louisburg, NC.
      104 Hal Moore, Louisburg, NC 27549
      View Details
    • $135,000

      Cleared Camp Lot with Utilities

      Double camp lot with water, electric, and septic.
      147 Osage 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

    FAQs

    What type of property is this?
    Recreation land - Resort lot in a gated lake community.
    Where is this recreation land located?
    The property is located at 148 Buckaroo Drive Louisburg, NC.
    What is the asking price?
    The asking price for this property is $40,000.
    What are key features of this property?
    This property features: Lake Royale Access: Enjoy private lake access for boating, swimming and fishing.; Gated Community: Benefit from 24/7 security and privacy.; Resort‑Style Amenities: Clubhouse, pavilion, swimming pool, beaches, and planned events enhance your lifestyle.
    (919) 357-4649
    We can help!
    Listing Contact
    Hilda Parler
    Hilda Parler
    Real Estate License ID: 239797
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!