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

    161 & 195 Ellington Drive, Raeford, NC 28376

    View on Map
    Claim this Listing
    For Sale
    $650,000

    Land for sale in Raeford, North Carolina.

    Type:Land
    Added:
    Jan 4, 2026
    Days on Market:
    149
    Last Refresh:
    Mar 16 at 8:22 am

    Property Features for 161 & 195 Ellington Drive

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    HELEN BELL

    Listing agent HELEN BELL License #252152

    Listing office CAROLINA SUMMIT GROUP #2

    Listing date Jan 4, 2026

    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 CAROLINA SUMMIT GROUP #2

    HighLights

    • CountyOrParish: Hoke
    • Additional Property Details: (Refer to description for details)

    Overview

    Located in Hoke County, this land is available for sale. The property is located at 161 & 195 Ellington Drive, Raeford, NC 28376.
    Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Restaurant Auto Parts Store Food Market Grocery & Convenience Store Grocery & Convenience Store Parking Lot & Garage

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

    Location Insight

    • Map
    • Local Demand
    City
    Raeford
    County
    Hoke
    State
    North Carolina
    Longitude
    -79.3371248
    Latitude
    35.0459816

    Nearby Similar for Sale

    • $795,000
      5,000 SF

      Downtown Raeford Commercial Property

      Commercial property in downtown Raeford with income potential.
      402-406b Harris Avenue, Raeford, NC 28376
      View Details
    • $480,000
      4,011 SF

      Historic Building with Modern Potential

      Preserved 1903 building on 0.53 acre corner lot.
      115 N Magnolia Street, Raeford, NC 28376
      View Details
    • $3,500,000
      10,400 SF

      Retail Center in Growing Area

      Neighborhood retail center in a high-traffic, growing residential area.
      101 - 129 Great Lane, Raeford, NC 28376
      View Details
    • $650,000

      Raeford Commercial Development Opportunity

      Prime industrial land near Fort Bragg with commercial potential.
      161 & 195 Ellington Drive, Raeford, NC 28376
      View Details
    • $725,000

      Prime Development & Equestrian Opportunity

      Development and equestrian opportunity near Carolina Horse Park with road frontage.
      690 Poole Road, Raeford, NC 28376
      View Details
    • $81,000

      Land with Damaged Home

      Two adjoining lots with fire-damaged manufactured home and outbuilding.
      151 Ratley Street, Raeford, NC 28376
      View Details
    • $523,840

      Raeford Land Bordering Black Branch Creek

      Exceptional development opportunity for equestrian community or estate homes.
      32.74 S Behind 778 Parker Church Road, Raeford, NC 28376
      View Details
    • $6,900,000

      113.29 Acres in Raeford, NC

      113.29 acres of land for sale in Hoke County.
      Philippi Church Road, Raeford, NC 28376
      View Details
    • $6,900,000

      Hoke County Land For Sale

      113.29 acres of land in Hoke County, North Carolina.
      Philippi Church Road, Raeford, NC 28376
      View Details
    • $3,100,000

      Fayetteville Road Development Opportunity

      9-acre corner parcel on Fayetteville Rd/401 with high traffic.
      8290 Fayetteville Road, Raeford, NC 28376
      View Details
    • $85,000

      Secluded Wooded Retreat in Hoke

      Private 7+ acre wooded land near Raeford, North Carolina.
      Flowers Road, Raeford, NC 28376
      View Details
    • $150,000

      Raeford Land on Popular Corridor

      0.46 acre commercial land parcel in Raeford, North Carolina.
      1003 Fayetteville Road, Raeford, NC 28376
      View Details

    FAQs

    What type of property is this?
    Land - Land for sale in Raeford, North Carolina.
    Where is this land located?
    The property is located at 161 & 195 Ellington Drive Raeford, NC.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: CountyOrParish: Hoke; Additional Property Details: (Refer to description for details)
    (910) 690-1065
    We can help!
    Listing Contact
    HELEN BELL
    Real Estate License ID: 252152
    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
    161 & 195 Ellington Drive, Raeford, NC 28376
    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!