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

    42 Reflection Drive, Topton, NC 28781

    View on Map
    Claim this Listing
    For Sale
    $2,247,000

    Wooded lakefront acreage with multiple home sites, shared well, gravel roads, and dock access for year-round use.

    Type:Land
    Property size:
    460,865 SF
    Lot size:
    10.50 Acres
    Price / SF:
    $4/SF
    Added:
    Aug 17, 2024
    Days on Market:
    659
    Last Refresh:
    Jun 1 at 3:43 pm

    Property Features for 42 Reflection Drive

    General Information

    Standard status
    Active
    Size
    460,865 SF
    Lot size
    10.50 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Kristine Flaig

    Listing agent Kristine Flaig License #201939

    Listing office Nantahala Real Estate

    Listing date Aug 17, 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 Nantahala Real Estate

    HighLights

    • 10.5 acres of wooded, lakefront acreage on Lake Nantahala, NC
    • Multiple house sites with knobs for homesites
    • Shared well and gravel roads on the property
    • Community dock area slip included in perpetuity, plus options for a private dock
    • Lake and mountain views with high elevation
    • Close to hiking trails and Wayah Bald

    Overview

    This offering is a 10.5-acre lakefront land parcel in a wooded setting with several potential house sites across the property. The terrain includes natural areas described as “knobs” for homesites, and the layout provides the option to build a home up high while still capturing lake and mountain views. The property is described as having shared well service and gravel roads, supporting practical day-to-day access during development. Dock access is a key feature, with a stated ability to have a private dock with a home build and also a slip in the community dock area in perpetuity.

    The land is located in the Nantahala area and is presented as lakefront acreage on Lake Nantahala. The remarks emphasize the combination of elevated building opportunities and lake-level enjoyment, along with the appeal of a four-season mountain setting.

    For buyers seeking a private estate-style homesite with waterfront access, the parcel’s multiple buildable areas and described infrastructure (shared well and gravel roads) can support a range of residential concepts. The owner notes that you can build a garage and a guest house, giving flexibility to plan for both full-time living and visiting guests, while maintaining dock-related access tied to the community.
    Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Real Estate Agency Big Box & Wholesale Store Hotel & Motel Travel Agency Bed & Breakfast Parking Lot & Garage

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

    Location Insight

    • Map
    • Local Demand
    City
    Topton
    County
    Cherokee
    State
    North Carolina
    Longitude
    -83.66463
    Latitude
    35.178981

    Nearby Similar for Sale

    • $549,000

      Deep-Water Lakefront Land Parcel

      Year-round, deep-water lakefront with stabilized shoreline and convenient build access in a gated community.
      Lakeshore Drive lot: 28, Nantahala, NC 28781
      View Details
    • $595,000

      Lakefront Lot in Nantahala Highlands

      Exceptional lakefront lot with dock and septic system.
      Lakeshore Drive lot: 36, NANTAHALA, NC 28781
      View Details
    • $115,000
      960 SF

      Commercial Building in Topton, NC

      Income-producing commercial building with road frontage on 1.62 acres.
      23979 US Hwy 19, TOPTON, NC 28781
      View Details
    • $249,800

      Lakefront & Lake-View Land Package

      Two adjacent lots with one lakefront and one elevated view area create strong building optionality near Lake Nantahala.
      Old Lodge Road lot: B1+C, Nantahala, NC 28781
      View Details
    • $549,000

      Lake Nantahala Waterfront Land

      Gated community lakefront lot with sweeping views and community water.
      Lakeshore Drive lot: 28, NANTAHALA, NC 28781
      View Details
    • $249,800

      Lake Nantahala Land Opportunity

      Two premium lots totaling 2.5 acres on Lake Nantahala.
      Old Lodge Rd lot: B1+C, NANTAHALA, NC 28781
      View Details
    • $595,000

      Deep-Water Lakefront Lot

      Build-ready deep-water lakefront site with a dock in place, installed septic, and community water access.
      Lakeshore Drive lot: 36, Nantahala, NC 28781
      View Details
    • $45,000

      Unrestricted Mountain Land in Topton

      5.53 acres of unrestricted mountain land with paved access.
      Camp Branch, Topton, NC 28781
      View Details
    • $485,440

      Topton, NC Land For Sale

      60.68 acre mountain property with views and development potential.
      Camp Branch Rd, Topton, NC 28781
      View Details
    • $25,000

      Land with Mountain Views

      Land near Nantahala Gorge, ideal for building a mountain home.
      Stillwind Dr lot: 16, Topton, NC 28781
      View Details
    • $728,000

      Lakefront Lot in Nantahala Highlands

      Premier lakefront lot with dock in Nantahala Highlands.
      Lakeshore Drive lot: 26, NANTAHALA, NC 28781
      View Details
    • $49,000

      Topton, NC Land For Sale

      4.38 acres in Topton, NC with year-round views.
      4 Mom's Falls Rd lot: 4&6, Topton, NC 28781
      View Details

    FAQs

    What type of property is this?
    Waterfront Land - Wooded lakefront acreage with multiple home sites, shared well, gravel roads, and dock access for year-round use.
    Where is this waterfront land located?
    The property is located at 42 Reflection Drive Topton, NC.
    What is the asking price?
    The asking price for this property is $2,247,000.
    What are key features of this property?
    This property features: 10.5 acres of wooded, lakefront acreage on Lake Nantahala, NC; Multiple house sites with knobs for homesites; Shared well and gravel roads on the property
    (828) 321-3101
    We can help!
    Listing Contact
    Kristine Flaig
    Real Estate License ID: 201939
    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
    42 Reflection Drive, Topton, NC 28781
    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!