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    Waterfront Land with Pier and Dock Title is generated by Realmo AI

    1301 Waterlily Road, Coinjock, NC 27923

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    For Sale
    $249,500

    LAND - Coinjock, NC

    Lot size:
    1.19 Acres
    Added:
    Jun 4, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 5 at 3:06 pm

    Property Features for 1301 Waterlily Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    RES
    Standard status
    Active
    Lot size
    1.19 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    1050

    Utilities

    Water front
    1

    We can help!

    Listing Contact
    Tammy Russell
    Tammy Russell

    Listing agent Tammy Russell License #152164

    Listing office Keller Williams - Outer Banks 5595 N Croatan Hwy, Southern Shores, NC

    Listing date Jun 4, 2026

    MLS# 133054 Listing URL

    Copyright © 2026 Outer Banks Association of Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Over 1 acre waterfront property with 244 feet of waterfrontage on the Currituck Sound, with views of the Currituck Lighthouse
    • CAMA permits are on file and the property is ready to build
    • Over $70,000 in completed site work, including moved and buried overhead power lines, tree clearing, and fill brought in
    • Shoreline improvements include a pier, boat dock, and riprap for shoreline protection
    • Property borders a pond, offering an additional waterside setting
    • Located on Waterlily Road, about 30 minutes to the OBX beaches, 30 minutes to Hampton Roads, and 25 minutes to Elizabeth City

    Overview

    This is a ready-to-build waterfront land parcel with CAMA permits on file. The seller has completed substantial site work to prepare the property for construction, including moving and burying overhead power lines, clearing trees, and bringing in fill. Shoreline protection has been installed with riprap, and the waterfront improvements include a pier and a boat dock. The property also borders a pond, offering an additional natural feature alongside the waterfront. Water frontage is provided on the Currituck Sound, with views that include the Currituck Lighthouse, and the property extends toward protected Salt Marsh.

    Located on Waterlily Road in Coinjock, the parcel is set back for privacy while still offering practical access to local amenities. The listing notes proximity to the Coinjock Marina, a restaurant, and a public boat ramp. It also references nearby Morris Farm for summer concerts. Travel times listed include about 30 minutes to the OBX beaches and Hampton Roads, and about 25 minutes to Elizabeth City.

    For a buyer looking to build, this site offers a comparatively prepared starting point, with utilities addressed and a shoreline already enhanced for water access. With the pier and boat dock in place and shoreline protection installed, the property is well suited for waterfront home plans that prioritize boating and open sound views.
    Property Profile Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Furniture & Home Goods

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

    Location Insight

    • Map
    • Local Demand
    City
    Coinjock
    County
    Currituck
    State
    North Carolina
    Longitude
    -75.922567
    Latitude
    36.406751

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    FAQs

    What type of property is this?
    Waterfront Land - Ready-to-build waterfront parcel with CAMA permits, extensive site work, and a pier, boat dock, and shoreline protection.
    Where is this waterfront land located?
    The property is located at 1301 Waterlily Road Coinjock, NC.
    What is the asking price?
    The asking price for this property is $249,500.
    What are key features of this property?
    This property features: Over 1 acre waterfront property with 244 feet of waterfrontage on the Currituck Sound, with views of the Currituck Lighthouse; CAMA permits are on file and the property is ready to build; Over $70,000 in completed site work, including moved and buried overhead power lines, tree clearing, and fill brought in
    (252) 489-8054
    We can help!
    Listing Contact
    Tammy Russell
    Tammy Russell
    Real Estate License ID: 152164
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    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.

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