Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Wooded Lot Near Harris Lake Title is generated by Realmo AI

    157 Smith Overlook Way, New Hill, NC 27562

    View on Map
    Claim this Listing
    Picture of Land at 157 Smith Overlook Way, New Hill, NC
    For Sale
    $499,999

    LAND - New Hill, NC

    Lot size:
    4.65 Acres
    Added:
    Apr 8, 2025
    Days on Market:
    410
    Last Refresh:
    May 22 at 5:06 am

    Property Features for 157 Smith Overlook Way

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Heavily Wooded
    Standard status
    Active
    Lot size
    4.65 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    Property described in Book of Maps 2024 Page 354
    Tax Annual Amount
    485

    Utilities

    Utilities
    Electricity Available
    Sewer type
    Septic Needed
    Water source
    Well Needed

    We can help!

    Listing Contact
    Richard Watkins

    Listing agent Richard Watkins License #133942

    Listing office Coldwell Banker HPW 528 N Main St, Raleigh, NC

    Listing date Apr 8, 2025

    MLS# 10087813 Listing URL

    Copyright © 2026 Doorify 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

    • 4.65 acre wooded lot adjacent to Duke Energy Harris Lake property.
    • Half mile to Crosspointe boat ramp.
    • Private, gated road for enhanced privacy.
    • Electricity available at the cul‑de‑sac.
    • Well water source available.
    • Septic system can be installed.

    Overview

    This 4.65-acre wooded lot is located adjacent to Duke Energy's Harris Lake property in New Hill, North Carolina. Access is provided by a private, gated road. The property will require the installation of electrical power from the cul-de-sac, as well as a well and septic system. The Crosspointe boat ramp is located approximately half a mile from the property.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Hotel & Motel Bed & Breakfast

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

    Location Insight

    • Map
    • Local Demand
    City
    New Hill
    County
    Wake
    State
    North Carolina
    Longitude
    -78.9733149
    Latitude
    35.569481

    Nearby Similar for Sale

    • $225,000

      Wooded Land with Pond Views

      4.5 acres of wooded land with shared pond access.
      590 Truth Road, New Hill, NC 27562
      View Details
    • $225,000

      Wooded Land with Pond Views

      4.5 acres of wooded land with shared pond access.
      590 Truth Road lot: 2, New Hill, NC 27562
      View Details
    • $800,000

      Wooded Land in Western Wake

      6.9 acres of wooded land in Western Wake County.
      3520 Bosco Road, New Hill NC 27562, New Hill, NC 27562
      View Details
    • $450,000

      28 Acres in New Hill

      28-acre tract in New Hill, NC, ideal for homesteading.
      Lasters Road, New Hill, NC 27562
      View Details
    • $630,000

      19.7 Acres Wooded Retreat Land

      19.7-acre wooded land near Jordan Lake, build your dream home!
      1096 Kadir Womble Drive, New Hill, NC 27562
      View Details
    • $40,000

      0.24 Acre Lot Opportunity

      0.24 acre lot near Triangle Innovation Point.
      523 New Elam Church Road, New Hill, NC 27562
      View Details
    • $1,243,000

      31 Acres of Raw Land

      31 acres of raw land in Holly Springs, North Carolina.
      4321&4333 New Hill Holleman Road, New Hill, NC 27562
      View Details
    • Contact for pricing
      189 SF

      Wake County Land Assemblage

      190-acre land assemblage near industrial and residential developments.
      4300 Shearon Harris Road, New Hill, NC, 27562
      View Details
    • $499,999

      Wooded Lot Near Harris Lake

      4.65 acre wooded lot near Duke Energy property.
      157 Smith Overlook Way, New Hill, NC 27562
      View Details
    • $380,000

      4.75 Acres Wooded Land

      4.75-acre wooded land zoned R-30 in Holly Springs Planning Jurisdiction.
      8404 James Rest Home Road, New Hill, NC 27562
      View Details
    • $400,000

      Land Available in New Hill

      0.47 acres of land for sale in New Hill, NC.
      3400 New Hill Holleman Rd, New Hill, NC 27562
      View Details
    • Contact for pricing
      709,275 SF

      Prime Industrial Development Opportunity

      Large industrial park site near US-1 interchange in Chatham County.
      0 and 1150 Pea Ridge Road & 190 and 276 Top Chord, New Hill, NC 27562
      View Details

    FAQs

    What type of property is this?
    Land - 4.65 acre wooded lot near Duke Energy Harris Lake property.
    Where is this land located?
    The property is located at 157 Smith Overlook Way New Hill, NC.
    What is the asking price?
    The asking price for this property is $499,999.
    What are key features of this property?
    This property features: 4.65 acre wooded lot adjacent to Duke Energy Harris Lake property.; Half mile to Crosspointe boat ramp.; Private, gated road for enhanced privacy.
    (919) 880-3146
    We can help!
    Listing Contact
    Richard Watkins
    Real Estate License ID: 133942
    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
    157 Smith Overlook Way, New Hill, NC 27562
    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!