Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Corolla, NC Build-Ready Land Title is generated by Realmo AI

    2338 Ocean Pearl Road lot 6, Corolla, NC 27927

    View on Map
    Claim this Listing
    For Sale
    $85,000

    LAND - Corolla, NC

    Added:
    Jun 18, 2025
    Days on Market:
    339
    Last Refresh:
    May 22 at 5:06 am

    Property Features for 2338 Ocean Pearl Road lot 6

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    SFR
    Standard status
    Active

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    170

    Utilities

    Water source
    Well, Private

    We can help!

    Listing Contact
    Leonard Cusato

    Listing agent Leonard Cusato License #284979

    Listing office Keller Williams - Outer Banks 5595 N Croatan Hwy, Southern Shores, NC

    Listing date Jun 18, 2025

    MLS# 129660 Listing URL

    Copyright © 2026 Outer Banks Association of Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Build‑ready lot with completed perk test, filled, and survey on file.
    • Located in an X Flood Zone, eliminating the need for flood insurance.
    • Situated at the edge of a protected state reserve, providing natural privacy and stunning views.
    • Opportunity to see wild horses roaming freely in the area.
    • Easy access to beaches, sound, sound access boat ramp, and Corolla Park.
    • Tranquil oceanside setting in Corolla 4X4 area.

    Overview

    This build-ready lot is located in a tranquil oceanside setting in Corolla, North Carolina. The property is fully prepared for construction, with a completed perk test, fill, and survey on file. Situated at the edge of a protected state reserve, the lot offers natural privacy and views. Wild horses roam freely in the area, reflecting the character of this Outer Banks community. The location is scenic and private, with easy access to beaches, the sound, a sound access boat ramp, and Corolla Park. The property is in an X Flood Zone and requires no flood insurance.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Hotel & Motel Bed & Breakfast Catering Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Corolla
    County
    Currituck
    State
    North Carolina
    Longitude
    -75.8748999
    Latitude
    36.5397709

    Nearby Similar for Sale

    • $249,000

      Semi-Oceanfront Lot in Corolla, NC

      Semi-oceanfront homesite in Corolla's 4x4 beaches, X flood zone.
      2278 Sandfiddler Road, Corolla, NC 27927
      View Details
    • $62,500

      Coastal Homesite Near False Cape Park

      1/3 acre homesite in peaceful Carova Beach setting.
      2368 Swan Island Road, Corolla, NC 27927
      View Details
    • $69,000

      Land in North Swan Beach

      Homesite in a quiet, residential 4x4 community.
      2021 Sea Gull Road, Corolla, NC 27927
      View Details
    • $99,999

      Vacant Lot in Carova

      Untouched Outer Banks paradise in the desirable 4x4 area.
      1654 Midland Road E lot: 22, Corolla, NC 27927
      View Details
    • $169,999

      Canalfront Homesite in Carova Beach

      0.38-acre canalfront homesite in the peaceful Carova Beach community.
      2226 Sailfish Road, Corolla, NC 27927
      View Details
    • $119,000

      Carova Beach Homesite Opportunity

      0.36 acre homesite in Carova's 4x4 area.
      2126 Sandpiper Road lot: 209, Corolla, NC 27927
      View Details
    • $695,000

      Semi-Oceanfront Land in Corolla, NC

      Rare semi-oceanfront land with community amenities and ocean views.
      1272 Sandcastle Drive lot: 161, Corolla, NC 27927
      View Details
    • $370,000

      Semi-Oceanfront Land in Corolla, NC

      Dream homesite in Corolla's 4x4 area, near the beach.
      1671 Sandpiper Road, Corolla, NC 27927
      View Details
    • $275,000

      Semi-Oceanfront Lot in Carova Beach

      Desirable homesite with exceptional views and unmatched coastal living.
      2166 Sandfiddler Road, Corolla, NC 27927
      View Details
    • $399,999

      Oceanside Lot in Corolla, NC

      Build your dream beach home on this oceanside lot!
      643 Sanderling Trail lot: 59, Corolla, NC 27927
      View Details
    • $108,700

      Corolla, NC Land Opportunity

      Fourth-row lot near the beach in Corolla, North Carolina.
      2356 Sandpiper Road lot: 10, Corolla, NC 27927
      View Details
    • $110,000

      Carova Beach Homesite Opportunity

      Quiet 1/3 acre homesite near the beach.
      2256 Sandpiper Road lot: 3, Corolla, NC 27927
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Tranquil oceanside lot ready for construction in Corolla, NC.
    Where is this residential land & home lot located?
    The property is located at 2338 Ocean Pearl Road lot 6 Corolla, NC.
    What is the asking price?
    The asking price for this property is $85,000.
    What are key features of this property?
    This property features: Build‑ready lot with completed perk test, filled, and survey on file.; Located in an X Flood Zone, eliminating the need for flood insurance.; Situated at the edge of a protected state reserve, providing natural privacy and stunning views.
    (252) 489-3065
    We can help!
    Listing Contact
    Leonard Cusato
    Real Estate License ID: 284979
    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
    2338 Ocean Pearl Road lot: 6, Corolla, NC 27927
    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!