94+ Acres with Heated
For Sale
$1,300,000
3567 Tot Hill Farm Road, Asheboro, NC 27205
Rural acreage featuring a 9,000 sq ft heated accessory building.
Property Size9,000 SF
Lot Size94.74 Acres
Price / SF$144.44
Days on Market206
Property Features for 3567 Tot Hill Farm Road
General Information
Standard status
Active
Size
9,000 SF
Lot size
94.74 Acres
Property subtype
Land or Vacant Lot
Taxes and HOA fees
Annual Taxes
$4,820
Listing Agency:
TKB REALTY GROUP LLC
(336) 396-7690
Listed By:
KARA FARRAR
Source:
Corcoran
Added: Jan 27
Changed: Aug 8
Last Checked: Aug 21 at 7:19AM
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 TKB REALTY GROUP LLC
Investment Insights
Based on property information with market context.
This property features over 94 acres of rural land, offering potential for a dream home, hunting, and farming. A 9,000 sq ft heated accessory building includes a 14ft roll-up door and one bathroom. The property has an automatic security gate at the entrance. Two parcels are included, providing an easement, driveway, and a large tract of land. The building uses a current well with a water softener and septic system. An additional driveway is proposed for private entrance to the homesite before reaching the accessory building. The building could be used for luxury cars, boats, RVs, a home gym, or even a pickleball court. Site-built, modular, or manufactured homes are allowed. The property also includes an old tobacco barn and a historical gravesite from the 1800s. An easement and road maintenance agreement are already in place. The property is secured by a security gate with cameras on site.
Key Highlights
- 94+ Acres of Rural Land: Ample space for hunting, farming, and building.
- 9000 Sq Ft Heated Accessory Building: Featuring a 14ft roll‑up door and bathroom.
- Perc Test on File for Home: Simplifies residential construction.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$43,531
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.35%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$870,620
$870.6K
Cap Rate 7%
$621,871
$621.9K
Cap Rate 9%
$483,678
$483.7K
Market Conditions
NOI Build-Up for 9,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$54.5K $6.06/SF
− Vacancy
−$3.3K −$0.37/SF
EGI
$51.2K $5.69/SF
− OpEx
−$7.7K −$0.85/SF
NOI
$43.5K $4.84/SF
Area
Randolph County, NC
Vacancy
6.10%
Lease Rate
$6.06 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$870,620
Cap Rate 7%
$621,871
Cap Rate 9%
$483,678
Alternative Uses
Best Use
Warehouse
$621.9K
$544.1K – $725.5K
NOI $43,531 @ 7.0% cap · market cap 3.35%
Second Best
Industrial
$512.1K
$448.1K – $597.5K
NOI $35,849 @ 7.0% cap · market cap 2.76%
Theoretical Best
Office A
$3.10M
$2.71M – $3.61M
NOI $216,715 @ 7.0% cap · market cap 16.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Explore this area
Business Placement
Demographics for 27205, NC
33,562
Population
15,487
Households
2.2
Avg Household Size
43
Median Age
20%
College-Educated
84%
High-School Grad
223.7 sq mi
ZIP Area
150
Density / Sq Mi
$63,577
Median Household Income
$39,126
Median Earnings
$789
Median Rent
$191,900
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Agricultural land / Farmland - Rural acreage featuring a 9,000 sq ft heated accessory building.
Where is this agricultural land / farmland located?
The property is located at 3567 Tot Hill Farm Road Asheboro, NC.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 94+ Acres of Rural Land: Ample space for hunting, farming, and building.; 9000 Sq Ft Heated Accessory Building: Featuring a 14ft roll‑up door and bathroom.; Perc Test on File for Home: Simplifies residential construction.
