Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Nebo Homesite with Mountain Views Title is generated by Realmo AI

    166 Coal Pit Mountain Drive 359, Nebo, NC 28761

    View on Map
    Claim this Listing
    For Sale
    $69,900

    Land, Other - Nebo, NC

    Lot size:
    1.77 Acres
    Added:
    Oct 6, 2025
    Days on Market:
    228
    Last Refresh:
    May 21 at 10:06 pm

    Property Features for 166 Coal Pit Mountain Drive 359

    General Information

    Property type
    Land
    Property subtype
    Other
    EntryLevel
    359
    Exterior features
    Boat Slip
    Standard status
    Active
    APN
    1637-00-53-3436
    Lot size
    1.77 Acres

    Utilities

    Water front features
    Beach Access

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Cory Coady

    Listing agent Cory Coady

    Listing office Engel & Völkers Foothills Lake James 3053 NC Highway 126, Morganton, NC

    Listing date Oct 6, 2025

    MLS# 4289434 Listing URL

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

    HighLights

    • Breathtaking easterly‑facing views with preserved privacy due to mature forest.
    • 1.77 acre homesite with gentle slope ideal for a walkout basement.
    • Community lake stocked with trout, bass & catfish, featuring a white sandy beach.
    • Multiple community docks, including a floating dock, for swimming and recreation.
    • Access to 5 miles of community hiking trails.
    • Conveniently located: 30 minutes to outdoor adventures/small towns, 45 minutes to Asheville, 90 minutes to Charlotte.

    Overview

    This 1.77-acre homesite offers an easterly-facing view, providing sunrises and shady afternoons. The property features a gentle slope suitable for a walkout basement and a backyard area. The building site has been recently mowed. A mature forest below the homesite ensures privacy and preserves the view. The community includes a small man-made lake stocked with trout, bass, and catfish, along with a white sandy beach for relaxation or launching a kayak. Two community docks and a floating dock are available for swimming. Residents can also enjoy nature hikes on 5 miles of community hiking trails. The location is within 30 minutes of outdoor adventures and small towns, 45 minutes from Asheville, and 90 minutes from Charlotte. The property is located in Nebo, North Carolina.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Hotel & Motel Bed & Breakfast

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

    Location Insight

    • Map
    • Local Demand
    City
    Nebo
    County
    McDowell
    State
    North Carolina
    Longitude
    -81.9079479
    Latitude
    35.5656044

    Nearby Similar for Sale

    • $725,000

      Lake James Waterfront Land

      Waterfront land on Lake James with dock and gazebo.
      2361 Lake Forest Cove, Nebo, NC 28761
      View Details
    • $575,000

      Waterfront Lot in Gated Community

      Gently sloped waterfront lot with community amenities and lake access.
      25 Linville View Drive 8, Nebo, NC 28761
      View Details
    • $99,900

      Serene Mountain View Homesite

      7.7 acre homesite with sweeping mountain views.
      0 Doe Hallow Trail 218, Nebo, NC 28761
      View Details
    • $85,000

      Unrestricted Land in Nebo, NC

      3 acres of unrestricted land perfect for homes or business.
      Off Landis Lane, Nebo, NC 28761
      View Details
    • $69,000

      Lake James Gated Community Land

      1.56-acre lot in The Peninsula at Lake James.
      431 Ridge Point Road, Nebo, NC 28761
      View Details
    • $2,100,000

      Lake James Waterfront Compound Homesite

      Rare 6-acre waterfront lot with dock on Lake James.
      179 Turtle Head Drive, Nebo, NC 28761
      View Details
    • $29,900

      Nebo, NC Mountain Land

      Two-acre mountain property in gated community near amenities.
      0 Crescent Ridge Lane 373, Nebo, NC 28761
      View Details
    • $49,900

      Wooded Land with Community Amenities

      4-acre wooded lot with community lake and hiking trails.
      Lot 488 Bella Vista Way 488, Nebo, NC 28761
      View Details
    • $49,900

      Mountain Homesite with Views

      1.3 acre homesite in gated community with mountain views.
      338 Grandview Peaks Drive 36, Nebo, NC 28761
      View Details
    • $99,000

      Lake James Waterfront Homesite

      Homesite with Lake James access, perfect for outdoor enthusiasts.
      2 Lentz Landing Lane, Nebo, NC 28761
      View Details
    • $100,000

      Nebo, NC Homesite Opportunity

      4.95-acre homesite in Grandview Peaks gated community.
      Osprey Lane, Nebo, NC 28761
      View Details
    • $199,900

      Mountain View Land in Nebo

      Residential land with winter mountain views and lake access.
      2086 October Drive 147, Nebo, NC 28761
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 1.77-acre homesite with sunrise views and community amenities.
    Where is this residential land & home lot located?
    The property is located at 166 Coal Pit Mountain Drive 359 Nebo, NC.
    What is the asking price?
    The asking price for this property is $69,900.
    What are key features of this property?
    This property features: Breathtaking easterly‑facing views with preserved privacy due to mature forest.; 1.77 acre homesite with gentle slope ideal for a walkout basement.; Community lake stocked with trout, bass & catfish, featuring a white sandy beach.
    (828) 584-9999
    We can help!
    Listing Contact
    Cory Coady
    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
    166 Coal Pit Mountain Drive 359, Nebo, NC 28761
    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!