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

    2243 Old Creek Rd Greenville, NC

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    16.66 acres of land in Greenville, North Carolina.

    Type:LAND
    Lot size:
    16.66 Acres
    Added:
    Feb 20, 2024
    Days on Market:
    795
    Last Refresh:
    Apr 5 at 8:09 pm

    Property Features for 2243 Old Creek Rd

    General Information

    Standard status
    Active
    Lot size
    16.66 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Stephanie Warren
    Stephanie Warren

    Listing agent Stephanie Warren License #340713

    Listing office Kittrell and Armstrong, LLC

    Listing date Feb 20, 2024

    Source Moodyscre

    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 Kittrell and Armstrong, LLC

    Overview

    Greenville Land Ready for Development

    This 16.66-acre property in Greenville, North Carolina, is available for development. The land, accessible from Old Creek Road, is zoned for industrial and residential agriculture (I and RA20). The location is near Pitt-Greenville Airport, Uptown Greenville, and East Carolina University. The property is situated in a growing economic region with healthcare, education, and manufacturing industries. The sale price is $333,500.00.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Industrial land

    Suggested Use

    Restaurant Spa & Massage Center Building Supply Big Box & Wholesale Store Hair Salon Nail Salon Pharmacy Auto Parts Store Kitchen & Bath Showroom Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Greenville
    County
    Pitt
    State
    North Carolina
    Longitude
    -77.3308
    Latitude
    35.6529

    Nearby Similar for Sale

    • $835,000

      Land Near ECU Medical District

      9.43 acre site near ECU Health Center Hospital.
      4686 Stantonsburg Road, Greenville, NC 27834
      View Details
    • $325,000
      2,600 SF

      Uptown Greenville Commercial Building

      Commercial building in the heart of Uptown Greenville, North Carolina.
      811 Dickinson Avenue, Greenville, NC 27834
      View Details
    • $425,000
      4,544 SF

      Greenville Multi-Family Investment Opportunity

      Three duplexes on one parcel with income and renovation potential.
      519 Mckinley Avenue, Greenville, NC 27834
      View Details
    • $900,000

      Farm and Hunting Land Opportunity

      180+ acre farm with hunting potential near Greenville, NC.
      Conetoe Road, Greenville, NC 27834
      View Details
    • $339,000

      Greenville Estate Lot Opportunity

      Prime 5-acre estate lot in Greenville's premier community.
      629 Lexington Drive, Greenville, NC 27834
      View Details
    • $1,620,000

      Prime Land on E 10th

      9.71 acres on E 10th St in Greenville, NC.
      4630 E 10th Street, Greenville, NC 27858
      View Details
    • $449,000

      Greenville Triplex on Corner Lot

      Triplex in Greenville, NC, with commercial development potential.
      1301 Dickinson Avenue, Greenville, NC 27834
      View Details
    • $185,500
      2,371 SF

      Versatile Duplex with Studio Apartment

      Duplex with separate studio, ideal for owner-occupant or investor.
      1400 Chestnut Street, Greenville, NC 27834
      View Details
    • $25,000

      Corner Lot Homesite Opportunity

      0.61-acre corner lot in Greenville, NC with utilities access.
      4669 Stantonsburg Road, Greenville, NC 27834
      View Details
    • $350,000
      1,185 SF

      Greenville Duplex For Sale

      Duplex in Greenville, NC with month-to-month tenants.
      520 Lake Road, Greenville, NC 27834
      View Details
    • $729,000

      Waterfront Land with 33-Acre Pond

      Unique 42-acre property with a 33-acre pond near Greenville.
      396 Staton House Road, Greenville, NC 27834
      View Details
    • $325,000

      Undeveloped Land in Greenville, NC

      47.9 acres of land ideal for development or investment.
      4221 Bud Parker Rd, Greenville, NC 27834
      View Details

    FAQs

    What type of property is this?
    Land - 16.66 acres of land in Greenville, North Carolina.
    Where is this land located?
    The property is located at 2243 Old Creek Rd Greenville, NC.
    What is the asking price?
    The asking price for this property is $333,500.
    What are key features of this property?
    This property features: 16.66 acres of land suitable for development.; Zoned for both industrial (I) and residential agriculture (RA20) uses.; Located near major roads with access from Old Creek Road.
    (252) 381-3976 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Stephanie Warren
    Stephanie Warren
    Real Estate License ID: 340713
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!