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    Lake Lure Motorcoach Resort Land Title is generated by Realmo AI

    143 Cornell Circle, Lake Lure, NC 28746

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    Claim this Listing
    For Sale
    $85,000

    LAND - Lake Lure, NC

    Lot size:
    0.10 Acres
    Added:
    May 21, 2025
    Days on Market:
    365
    Last Refresh:
    May 20 at 2:06 am

    Property Features for 143 Cornell Circle

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    1626058
    Lot size
    0.10 Acres

    Taxes and HOA fees

    Tax Description
    LT 43 PH 2 APPLE VALLEY FARMS

    Utilities

    Water source
    Well

    We can help!

    Listing Contact
    Ashley Jackson

    Listing agent Ashley Jackson License #349914

    Listing office NorthGroup Real Estate LLC 65 Merrimon Ave #1081, Cornelius, NC

    Listing date May 21, 2025

    MLS# 4260381 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

    • Luxury motorcoach resort in Lake Lure, restrictions apply: Class A, 32' minimum, less than 10 years old.
    • Private lot featuring custom stonework, swing, and fire drum.
    • Minutes from Rumbling Bald on Lake Lure, offering restaurants and golf courses.
    • Enjoy on‑site amenities including a private catch‑and‑release fishing pond, seasonal farmstand, and the Victory Kitchen Restaurant.
    • Access to Rumbling Bald amenities (pools, beach) via passes, subject to availability.
    • Exclusive access to a 25‑ft pontoon boat at the Rumbling Bald Marina.

    Overview

    This 0.1-acre lot is located in a luxury motorcoach resort in Lake Lure, North Carolina. The property is restricted to Class A motorcoaches with a minimum length of 32 feet and less than 10 years old. Lot 143 is nestled among trees and features custom stonework around the entire site, offering both elegance and privacy. Outdoor living can be enjoyed with a relaxing swing, fire drum, and fresh mountain air. The lot is located minutes from Rumbling Bald on Lake Lure, which offers two restaurants, golf courses, and other amenities. On-site amenities include a private catch-and-release fishing pond, a seasonal farmstand, and the Victory Kitchen Restaurant. Apple Valley Farm is a member of Rumbling Bald, and owners may request passes for access to pools, beach, and other amenities, subject to availability. Apple Valley Farm also offers exclusive access to a 25-ft pontoon boat at the Rumbling Bald Marina. Lake Lure is not open for Summer 2025 due to Hurricane Helene, with an expected reopening in Spring or Summer 2026. This property presents a rare opportunity to own in a premier motorcoach resort.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Campgrounds

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Hair Salon Nail Salon Gym & Fitness Center Hotel & Motel Department Store Skin Care Clinic Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake Lure
    County
    Rutherford
    State
    North Carolina
    Longitude
    -82.178208
    Latitude
    35.453183

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    FAQs

    What type of property is this?
    Campground - Luxury motorcoach resort lot in Lake Lure, North Carolina.
    Where is this campground located?
    The property is located at 143 Cornell Circle Lake Lure, NC.
    What is the asking price?
    The asking price for this property is $85,000.
    What are key features of this property?
    This property features: Luxury motorcoach resort in Lake Lure, restrictions apply: Class A, 32' minimum, less than 10 years old.; Private lot featuring custom stonework, swing, and fire drum.; Minutes from Rumbling Bald on Lake Lure, offering restaurants and golf courses.
    (435) 640-9403
    We can help!
    Listing Contact
    Ashley Jackson
    Real Estate License ID: 349914
    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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