Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Land Available in Hope Mills Title is generated by Realmo AI

    137 Congreve Road, Hope Mills, NC 28348

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

    Land for sale at 137 Congreve Road, Hope Mills, NC

    Type:Land
    Added:
    Sep 23, 2024
    Days on Market:
    621
    Last Refresh:
    Apr 8 at 1:24 am

    Property Features for 137 Congreve Road

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Kelvin Dumas

    Listing agent Kelvin Dumas License #257754

    Listing office Offer Realty

    Listing date Sep 23, 2024

    Source Evrealestate

    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 Offer Realty

    HighLights

    • Convenient access to US‑301
    • Located in Hope Mills, NC
    • Situated in Cumberland County
    • Located on Congreve Rd
    • Address: 137 Congreve Rd
    • Zip Code: 28348‑8582

    Overview

    Located at 137 Congreve Road in Hope Mills, North Carolina, this land is accessible from Interstate 95. From I-95, take exit 41 toward NC-59/Hope Mills/Parkton/Cypress Lakes, proceed onto Chickenfoot Road (NC-59 W), turn onto US-301 S, and take the ramp onto I-95-BR S toward US-301 S/Lumberton. Then, take the ramp onto US-301 S toward Parkton/NC-71/Red Springs, continue on US Highway 301 S (US-301), and turn onto Congreve Road. The property is located at 137 Congreve Rd in Cumberland County.
    Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Building Supply Big Box & Wholesale Store Auto Repair Shop Storage Facility HVAC Service Garden Center Bakery Shopping Center & Mall Travel Agency Home Appliance Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Hope Mills
    County
    Cumberland
    State
    North Carolina
    Longitude
    -78.9422298
    Latitude
    34.9291862

    Nearby Similar for Sale

    • $379,000

      Hope Mills Commercial Opportunity

      Adaptable office/showroom with workshop on high-traffic Legion Road.
      3840 Legion Road, Hope Mills, NC 28348
      View Details
    • $85,000

      Hope Mills Wooded Homesite Parcel

      3.3-acre wooded parcel suitable for residential homesite.
      6331 Muscat Road, Hope Mills, NC 28348
      View Details
    • $599,999

      Commercial Land Opportunity With Two Parcels

      Two-parcel commercial land site in a fast-growing area, positioned across from a CVS for high visibility and flexible use.
      4028 S Main St & Edwin Deaver Street, Hope Mills, NC 28348
      View Details
    • $299,000

      Hope Mills Commercial Land Available

      4.74 acres on US HWY 301, Hope Mills, NC
      US HWY 301 S, Hope Mills, NC 28348
      View Details
    • $900,000

      Hope Mills Land For Sale

      13 acres on Legion Rd with development potential.
      4035 Legion Road, Hope Mills, NC 28348
      View Details
    • $125,000

      Hope Mills Land For Sale

      7.42 acre lot in Hope Mills, North Carolina.
      4244 Longview Avenue, Hope Mills, NC 28348
      View Details
    • $170,000

      Hope Mills Duplex Investment Opportunity

      Duplex with value-add potential near Hope Mills Lake.
      3913 Ellison Street, Hope Mills, NC 28348
      View Details
    • $30,000

      Hope Mills Land For Sale

      1.26 acres of land on S Main Street.
      S Main Street, Hope Mills, NC 28348
      View Details
    • $10,000

      Hope Mills Wooded Lot

      Secluded 0.44-acre wooded lot near parks and trails.
      5404 Ridgecrest Drive, Hope Mills, NC 28348
      View Details
    • $899,000
      1,842 SF

      Restaurant & Development Opportunity

      Commercial property with restaurant, drive-thru, and development potential.
      3416 N Main St, Hope Mills, NC 28348
      View Details
    • $29,000

      Commercial Lot in Hope Mills

      Affordable commercial lot on high-traffic growth corridor.
      S Main Street, Hope Mills, NC 28348
      View Details
    • $40,000

      Wooded Lot in Hope Mills

      Wooded lot for custom build in convenient Hope Mills location.
      378 Brooklyn Circle, Hope Mills, NC 28348
      View Details

    FAQs

    What type of property is this?
    Land - Land for sale at 137 Congreve Road, Hope Mills, NC
    Where is this land located?
    The property is located at 137 Congreve Road Hope Mills, 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: Convenient access to US‑301; Located in Hope Mills, NC; Situated in Cumberland County
    (919) 621-9890
    We can help!
    Listing Contact
    Kelvin Dumas
    Real Estate License ID: 257754
    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
    137 Congreve Road, Hope Mills, NC 28348
    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!