Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Entitled Multi-Family Development Land Title is generated by Realmo AI

    1975 Southport Supply Road SE, Bolivia, NC 28422

    View on Map
    Claim this Listing
    For Sale
    $2,500,000

    LAND - Bolivia, NC

    Lot size:
    22.00 Acres
    Added:
    Jun 3, 2025
    Days on Market:
    369
    Last Refresh:
    Jun 6 at 7:06 am

    Property Features for 1975 Southport Supply Road SE

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Co-Cld
    Standard status
    Active
    APN
    1860000912
    Lot size
    22.00 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    22+/-acres to be carved out of 70.820 AC PL-144/6
    Tax Annual Amount
    2380

    We can help!

    Listing Contact
    Leesa L Johnson

    Listing agent Leesa L Johnson License #202605

    Listing office Sunset Harbor Realty LLC 3958 Sunset Harbor Rd., Bolivia, NC

    Listing date Jun 3, 2025

    MLS# 100511295 Listing URL

    Copyright © 2026 Hive 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

    • Fully entitled 210‑unit multifamily project plan approved for 7 multifamily buildings.
    • Each of the 7 buildings is approved for 30 units (total 210 units).
    • Ingress and egress are in place for the approved project.
    • Situated adjacent to a Handee Hugos Gas Station and Subway.
    • Located within the county’s 5 Mile economic development zone.
    • Nearby amenities include Carolina National Golf Course (<3 miles) and Roger Bacon Charter School (1 mile).

    Overview

    This 22-acre development property is approved for a 210-unit multi-family project. The plan contemplates seven multifamily buildings, each designed for 30 units, and it is described as fully entitled and approved. Ingress and egress are stated as already in place, supporting an easier path from permitting to site execution. The property is listed under zoning described as Co-Cld.

    The offering is located at 1975 Southport Supply Road SE in Bolivia, North Carolina, within Brunswick County. Public remarks indicate it is anchored by a lighted and signalized major intersection and is adjacent to Handee Hugos Gas Station and Subway. The property is also described as being inside the county’s 5 Mile economic development zone.

    For developers and investors evaluating a multifamily build-out, this site’s documented approvals and established access components are key. The included development configuration of seven buildings with 30 units each may support a straightforward project plan for townhome-style or apartment-style product, subject to final execution requirements.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Real Estate Agency Department Store Storage Facility Garden Center Discount Store Grocery & Convenience Store Car Rental Facility Nursing Home Nursing Home

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

    Location Insight

    • Map
    • Local Demand
    City
    Bolivia
    County
    Brunswick
    State
    North Carolina
    Longitude
    -78.193178
    Latitude
    33.986427

    Nearby Similar for Sale

    • $100,000

      Corner Lot in Growing Corridor

      0.79-acre corner lot with flexible use potential in Bolivia, NC.
      3605 Sunset Harbor Road SE, Bolivia, NC 28422
      View Details
    • $799,000

      Cleared Land Ready to Build

      Prime 4-acre corner lot, shovel-ready for commercial development.
      Ocean Highway E, Bolivia, NC 28422
      View Details
    • $695,000

      Bolivia, NC Development Opportunity

      45.58 acres of land near Wilmington and desirable beaches.
      2853 Albright Road SE, Bolivia, NC 28422
      View Details
    • $179,000

      Residential Land in Gated Community

      Private wooded residential lot with cul-de-sac frontage in a gated Brunswick County community.
      1568 Brushwood Court SE, Bolivia, NC 28422
      View Details
    • $174,900

      Land in Riversea Community

      Homesite in amenity-rich Riversea Community with river views.
      201 Lockhaven Drive SE lot: 233, Bolivia, NC 28422
      View Details
    • $115,000

      Land in Bolivia, North Carolina

      1.88 acre commercial or residential land opportunity near beaches.
      Galloway Road NE, Bolivia, NC 28422
      View Details
    • $129,900

      Homesite in Winding River Plantation

      Corner lot with amenities in Winding River Plantation.
      540 Riverwood Drive SE, Bolivia, NC 28422
      View Details
    • $2,200,000

      Prime Land Assemblage Opportunity

      42 acres in high-growth area, ideal for development.
      1060 Person Farm Road SE, Bolivia, NC 28422
      View Details
    • $400,000

      Cleared Land Near Oak Island

      5.1 acres of cleared land ready for development.
      769 Midway Road SE, Bolivia, NC 28422
      View Details
    • $200,000

      Wooded Lot Overlooking Golf Course

      Large wooded lot in gated golf community.
      500 Riverwood Drive SE lot: 48-B, Bolivia, NC 28422
      View Details
    • $167,995

      Waterfront Homesite in Gated Community

      Build your dream home with direct boating access to Intracoastal.
      213 Lockhaven Drive SE, Bolivia, NC 28422
      View Details
    • $2,500,000

      Prime Highway 211 Development Site

      45.3-acre upland site ideal for commercial or mixed-use development.
      Tr-2 75.34 Ac, Bolivia, NC 28422
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 22-acre site with approved 210-unit multifamily plan and ingress/egress in place, positioned for townhome or apartment development.
    Where is this residential land & home lot located?
    The property is located at 1975 Southport Supply Road SE Bolivia, NC.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: Fully entitled 210‑unit multifamily project plan approved for 7 multifamily buildings.; Each of the 7 buildings is approved for 30 units (total 210 units).; Ingress and egress are in place for the approved project.
    (910) 777-1785
    We can help!
    Listing Contact
    Leesa L Johnson
    Real Estate License ID: 202605
    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
    1975 Southport Supply Road SE, Bolivia, NC 28422
    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!