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    Land with RV Campground Infrastructure Title is generated by Realmo AI

    137 Cowboy Lane, Hot Springs, NC 28743

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    For Sale
    $475,000

    LAND - Hot Springs, NC

    Lot size:
    14.33 Acres
    Added:
    Mar 25, 2026
    Days on Market:
    57
    Last Refresh:
    May 20 at 1:06 am

    Property Features for 137 Cowboy Lane

    General Information

    Property type
    Land
    Property subtype
    Other
    Exterior features
    Fire Pit
    Standard status
    Active
    APN
    8840-97-5903
    Lot size
    14.33 Acres

    Taxes and HOA fees

    Tax Description
    PL:6-819

    Utilities

    Water source
    Well

    Building Details

    Additional Structures
    Workshop

    We can help!

    Listing Contact
    Jason Brodsky

    Listing agent Jason Brodsky

    Listing office EXP Realty LLC 16 Biltmore Ave Suite #300, Charlotte, NC

    Listing date Mar 25, 2026

    MLS# 4361139 Listing URL

    Copyright © 2026 Canopy MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Stunning views combined with gentle, usable land create a rare and desirable property.
    • Existing infrastructure as a small RV campground with full hookups provides immediate income potential or development base.
    • 30x50 pole barn with dedicated septic and 200‑amp service is primed for conversion.
    • Two separate septic systems offer flexibility for expansion.
    • Mostly level land with a blend of open pasture, woods, and established trails is suitable for various uses.
    • Landscaping with Emerald Green arborvitae and magnolia trees enhances privacy.

    Overview

    This 14.33-acre property is currently operating as a small RV campground with infrastructure already in place. It features full RV hookups with power and septic, plus two separate septic systems offering flexibility for expansion. A bathhouse with laundry and a park model provide immediate functionality. Both the park model and the 30x50 pole barn are equipped with their own 200-amp electrical service. The pole barn also has a dedicated septic system, making it suited for partial conversion into a studio apartment, expanded living space, workshop, or additional camper accommodations. The land is mostly level, with a blend of open pasture and woods, plus established trails winding throughout. It is mostly fenced with easy access. Significant investment has been made in the landscaping, with Emerald Green arborvitae and magnolia trees enhancing privacy. This property is also suitable as an equestrian property. It is located in Hot Springs, NC, and offers views, gentle topography, and usable land. It is suitable for a boutique glamping retreat, a dog-friendly resort, or a private estate.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Campgrounds

    Suggested Use

    Real Estate Agency Department Store Clothing & Fashion Store Travel Agency Clothing & Fashion Store Clothing & Fashion Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Hot Springs
    County
    Madison
    State
    North Carolina
    Longitude
    -82.883079
    Latitude
    35.909103

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    FAQs

    What type of property is this?
    Campground - 14.33 acres suitable for glamping, equestrian, or private estate.
    Where is this campground located?
    The property is located at 137 Cowboy Lane Hot Springs, NC.
    What is the asking price?
    The asking price for this property is $475,000.
    What are key features of this property?
    This property features: Stunning views combined with gentle, usable land create a rare and desirable property.; Existing infrastructure as a small RV campground with full hookups provides immediate income potential or development base.; 30x50 pole barn with dedicated septic and 200‑amp service is primed for conversion.
    (828) 490-1510
    We can help!
    Listing Contact
    Jason Brodsky
    Learn More
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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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