Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Residential Lot in Lofton Farms Title is generated by Realmo AI

    1520 Hyman Drive, Albemarle, NC 28001

    View on Map
    Claim this Listing
    For Sale
    $69,000

    LAND - Albemarle, NC

    Lot size:
    0.58 Acres
    Added:
    Feb 9, 2026
    Days on Market:
    101
    Last Refresh:
    May 21 at 12:06 am

    Property Features for 1520 Hyman Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    6549-04-93-0912
    Lot size
    0.58 Acres

    Taxes and HOA fees

    Tax Description
    VAC HYMAN DR LOFTIN FARMS LOT 3 BLK B

    Utilities

    Sewer type
    Public Sewer

    We can help!

    Listing Contact
    Rick Emert
    Rick Emert

    Listing agent Rick Emert

    Listing office NorthGroup Real Estate LLC 19453 W Catawba Ave, Ste A, Cornelius, NC

    Listing date Feb 9, 2026

    MLS# 4344507 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

    • Ready to build lot with city water and sewer available.
    • No HOA.
    • Over half an acre.
    • Approved for crawl space or slab foundation based on soil test.
    • Minimum house size: 1800 sq ft (one story) or 1400 sq ft main floor (two story).
    • Convenient location: approx. 30 minutes to Charlotte, 13 minutes to shopping, and 15 minutes to Lake Tillary.

    Overview

    This residential lot, over half an acre in size, is ready for construction with city water and sewer available. Located in the Lofton Farms subdivision, the property has no HOA restrictions. A soil test, performed by the seller, has approved the lot for either a crawl space or slab foundation. Minimum square footage requirements are 1800 sq ft for a one-story home and 1400 sq ft for the main floor of a two-story home. The location is approximately 30 minutes from Charlotte and 13 minutes from shopping, stores, and restaurants, including Walmart. Lake Tillary is approximately 15 minutes away. Area homes in the neighborhood range in price from approximately $430,000 to $620,000.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Big Box & Wholesale Store Daycare Center Kitchen & Bath Showroom Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Albemarle
    County
    Stanly
    State
    North Carolina
    Longitude
    -80.177736
    Latitude
    35.375726

    Nearby Similar for Sale

    • $395,000
      3,600 SF

      Albemarle Multifamily Investment Opportunity

      Stabilized multifamily asset in Albemarle's revitalized core with value-add potential.
      208 S 3rd Street, Albemarle, NC 28001
      View Details
    • $1,999,000
      6,894 SF

      Albemarle Commercial Investment Opportunity

      Fully leased commercial building on 2.87 acres in Albemarle.
      702 Henson Street, Albemarle, NC 28001
      View Details
    • $259,900

      Turnkey Duplex in Albemarle, NC

      Ready duplex near shopping, hospital, restaurants, and Pfeiffer campus.
      218 Wilson Street, Albemarle, NC 28001
      View Details
    • $360,000

      Land with Pond and Fields

      28.2 acres with road frontage, pond, wooded area, and fields.
      32242 Chapel Road, Albemarle, NC 28001
      View Details
    • $219,900

      Commercial Lot on NC Hwy

      Commercial lot for sale in Albemarle, NC.
      NC 24/27 Highway, Albemarle, NC 28001
      View Details
    • $494,000

      Land on E Main Street

      Two parcels totaling 0.86 acres with highway frontage.
      2012 E Main Street, Albemarle, NC 28001
      View Details
    • $83,000

      Albemarle Vacant Land Parcel

      Spacious 1.33-acre parcel ready for development in Albemarle, NC.
      33266 Courtland Drive, Albemarle, NC 28001
      View Details
    • $479,000
      3,816 SF

      Historic Granite Four-Square Residence

      1924 granite residence with modern updates and commercial potential.
      705 W Main Street, Albemarle, NC 28001
      View Details
    • $995,000

      Albemarle Warehouse and Office Space

      Over 30,000 sqft warehouse and office in downtown Albemarle.
      241 W North Street, Albemarle, NC 28001
      View Details
    • $49,900

      Albemarle Land Opportunity

      Approximately 1.5 acres of land for sale in Albemarle.
      Long Street, Albemarle, NC 28001
      View Details
    • $20,000

      Vacant Land in Albemarle, NC

      Vacant 0.58 acre lot, leveled and clear.
      EFIRD Road, Albemarle, NC 28001
      View Details
    • $499,000

      Acreage Near Livestock Arena

      Acreage suitable for business, residential, or recreational use.
      00000 Newt Road, Albemarle, NC 28001
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Ready-to-build lot with city utilities, no HOA, convenient location.
    Where is this residential land & home lot located?
    The property is located at 1520 Hyman Drive Albemarle, NC.
    What is the asking price?
    The asking price for this property is $69,000.
    What are key features of this property?
    This property features: Ready to build lot with city water and sewer available.; No HOA.; Over half an acre.
    (704) 606-3000
    We can help!
    Listing Contact
    Rick Emert
    Rick Emert
    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
    1520 Hyman Drive, Albemarle, NC 28001
    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!