Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    220 Horseshoe Road South Mills, NC 27976

    View on Map
    Claim this Listing
    Picture of Land at 220 Horseshoe Road, South Mills, NC
    For Sale
    $129,900

    LAND - South Mills, NC

    Lot size:
    3.33 Acres
    Added:
    Mar 26, 2025
    Days on Market:
    404
    Last Refresh:
    May 3 at 11:06 am

    Property Features for 220 Horseshoe Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    3.33 Acres

    Taxes and HOA fees

    Tax Annual Amount
    435

    Utilities

    Water front features
    Waterfront

    We can help!

    Listing Contact
    H Kim Old

    Listing agent H Kim Old License #95890

    Listing office BHHS RW Towne Realty 378 Caratoke Highway, Chesapeake, NC

    Listing date Mar 26, 2025

    MLS# 10575522 Listing URL

    Copyright © 2026 Real Estate Information Network, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Partially Cleared Land, South Mills

    This 3.33-acre lot offers a blend of space and freedom, featuring partial clearing and tree coverage. The absence of deed restrictions provides flexibility for various uses. Prospective buyers can bring their own builder or explore available land/home packages to construct a custom home. The property offers privacy while maintaining convenient access to nearby amenities. This lot presents an opportunity for flexible development.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Big Box & Wholesale Store HVAC Service Food Market (Bike/Boat/Book/etc) Store Farmer's Market

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

    Location Insight

    • Map
    • Local Demand
    City
    South Mills
    County
    Camden
    State
    North Carolina
    Longitude
    -76.3486051
    Latitude
    36.4527496

    Nearby Similar for Sale

    • $400,000

      Prime Highway Commercial Land Parcel

      High-visibility 2-acre commercial land parcel in South Mills, NC.
      Highway 17 N, South Mills, NC 27976
      View Details
    • $178,000

      Camden County Land Opportunity

      10.01 acre lot ready for your vision!
      129 Old Family Place lot: 3, South Mills, NC 27976
      View Details
    • $223,000

      Commercial Corner Lot on U.S. 17

      4.69-acre commercial corner lot with high traffic visibility.
      144 Horseshoe Road, South Mills, NC 27976
      View Details
    • $250,000

      South Mills Commercial Land Parcel

      2-acre commercial land parcel in South Mills, North Carolina.
      Landing Way, South Mills, NC 27976
      View Details
    • $69,000

      Residential Lot in South Mills

      0.42 acre residential lot, build your dream home.
      302 Spencers Avenue, South Mills, NC 27976
      View Details
    • $140,000

      South Mills Acreage For Sale

      2.61-acre lot in South Mills, Camden County, North Carolina.
      277 Old Swamp Road, South Mills, NC 27976
      View Details
    • $179,000

      South Mills 9.8-Acre Lot

      9.8-acre lot in South Mills, Camden County, North Carolina.
      261 Old Swamp Road lot: C, South Mills, NC 27976
      View Details
    • $179,000

      South Mills Acreage For Sale

      9.8-acre residential lot in South Mills, North Carolina.
      261 Old Swamp Road, South Mills, NC 27976
      View Details
    • $140,000

      South Mills Residential Land

      2.61-acre lot in South Mills, Camden County, North Carolina.
      277 Old Swamp Road, South Mills, NC 27976
      View Details
    • $129,900

      Spacious Lot in South Mills

      3.33-acre partially cleared lot with no deed restrictions.
      220 Horseshoe Road lot: 1, South Mills, NC 27976
      View Details
    • $169,900

      South Mills Acreage for Sale

      10.01 acre lot in a quiet rural area.
      South Road lot: C, South Mills, NC 27976
      View Details
    • $179,900

      South Mills Land For Sale

      10.01-acre lot with 4.73 acres cleared in South Mills.
      343 Highway N lot: B, South Mills, NC 27976
      View Details

    FAQs

    What type of property is this?
    Land - 3.33-acre lot with no deed restrictions in South Mills.
    Where is this land located?
    The property is located at 220 Horseshoe Road South Mills, NC.
    What is the asking price?
    The asking price for this property is $129,900.
    What are key features of this property?
    This property features: 3.33‑acre partially cleared lot offers space and freedom.; No deed restrictions provide building flexibility.; Bring your own builder or explore land/home packages.
    (757) 690-0439
    We can help!
    Listing Contact
    H Kim Old
    Real Estate License ID: 95890
    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

    220 Horseshoe Road, South Mills, NC 27976

    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!