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    Spacious Land Near NC Coast Title is generated by Realmo AI

    301 New Road, Scranton, NC 27875

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    For Sale
    $39,000

    LAND - Scranton, NC

    Lot size:
    5.50 Acres
    Added:
    Feb 28, 2026
    Days on Market:
    91
    Last Refresh:
    May 30 at 1:06 am

    Property Features for 301 New Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    1
    Standard status
    Active
    APN
    3335
    Lot size
    5.50 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    Hyde County
    Tax Annual Amount
    239

    Utilities

    Utilities
    Water Available

    We can help!

    Listing Contact
    Elijah King

    Listing agent Elijah King License #362130

    Listing office Coldwell Banker Preferred Properties 106 E Washington St., Rockingham, NC

    Listing date Feb 28, 2026

    MLS# 100557304 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

    • 5.5+\/- acre tract offering space, privacy, and flexibility.
    • County water and electric available at the road.
    • ~116 feet of road frontage for easy access and homesite placement.
    • Close proximity to Lake Mattamuskeet and other coastal recreation areas.
    • Convenient access to Belhaven, Washington, and Greenville for amenities.
    • Reasonable drive to NC coast beaches.

    Overview

    This 5.5+/- acre tract is located at 301 New Rd in Scranton, NC. The property offers a blend of space, privacy, and practical utilities. County water and electric are available at the road, and the property features approximately 116 feet of road frontage, allowing for an easy driveway approach and flexible homesite placement. A septic system will be needed. The property provides ample room to position a homesite and septic area, with space remaining for a shop, garden, recreational use, or future expansion. Scranton, in Hyde County, is known for its quiet, coastal-country lifestyle. The area's economy is supported by agriculture, forestry, commercial fishing, coastal industries, construction, and public services. Lake Mattamuskeet and the surrounding refuge are attractions for birding, wildlife viewing, fishing, photography, and scenic drives. Belhaven and Washington offer waterfront dining and marinas, while Greenville provides hospitals, universities, shopping, and employment opportunities. The NC coast and beach destinations are within driving distance for weekend trips.
    Location Intelligence

    Current Use by Public Records

    Land

    Map

    City
    Scranton
    County
    Hyde
    State
    North Carolina
    Longitude
    -76.449746
    Latitude
    35.487627

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    FAQs

    What type of property is this?
    Land - 5.5+/- acre tract in Scranton, NC with utilities available.
    Where is this land located?
    The property is located at 301 New Road Scranton, NC.
    What is the asking price?
    The asking price for this property is $39,000.
    What are key features of this property?
    This property features: 5.5+\/- acre tract offering space, privacy, and flexibility.; County water and electric available at the road.; ~116 feet of road frontage for easy access and homesite placement.
    (423) 599-1897
    We can help!
    Listing Contact
    Elijah King
    Real Estate License ID: 362130
    Learn More
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    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
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