Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Oceanfront Lot on Hatteras Island Title is generated by Realmo AI

    54119 Marlin Drive lot 12, Frisco, NC 27936

    View on Map
    Claim this Listing
    For Sale
    $399,000

    LAND - Frisco, NC

    Lot size:
    0.15 Acres
    Added:
    Mar 5, 2026
    Days on Market:
    78
    Last Refresh:
    May 22 at 12:06 am

    Property Features for 54119 Marlin Drive lot 12

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    S-1
    Standard status
    Active
    Lot size
    0.15 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    1923

    Utilities

    Water front features
    Ocean Front
    Water front
    1

    We can help!

    Listing Contact
    Trafton Reynolds
    Trafton Reynolds

    Listing agent Trafton Reynolds License #265864

    Listing office NC 12 Realty 50840 NC 12 Highway, Buxton, NC

    Listing date Mar 5, 2026

    MLS# 132009 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

    • Oceanfront lot on Hatteras Island
    • 2025 Survey on file
    • South‑facing beach with flatter terrain
    • Located in Marlin Village
    • Close proximity to Billy Mitchell Airport
    • 4‑wheel drive access to Ramp 49

    Overview

    This oceanfront lot on Hatteras Island is located in Marlin Village, offering a relaxed atmosphere, natural beauty, and proximity to outdoor recreation. The lot has a 2025 survey on file. The beach faces south and is relatively flat. A home built here would have water views. Billy Mitchell Airport and Road are minutes away, providing access to the beach with a 4-wheel drive to Ramp 49. This parcel on Marlin Drive is suitable for a personal sanctuary or an investment home. The lot size is 0.15 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Map

    City
    Frisco
    County
    Dare
    State
    North Carolina
    Longitude
    -75.63607
    Latitude
    35.22654

    Nearby Similar for Sale

    • $700,000
      2,600 SF

      Secluded Duplex on Large Lot

      Two-unit house on 2.25 acres with buildable lot.
      52031 Piney Ridge Road, Frisco, NC 27936
      View Details
    • $349,000

      Soundfront Homesite for Water Lovers

      Frisco soundfront homesite with sandy beach and water access.
      Mare Vista Drive lot: 4E, Frisco, NC 27936
      View Details
    • $159,000

      Soundfront Lot in Hatteras Island

      Semi-soundfront lot with sound access and sunset views.
      Mare Vista Drive lot: 4C, Frisco, NC 27936
      View Details
    • $199,000

      Oceanside Lot in Frisco, NC

      Oceanside lot near beach access, ideal for building a home.
      54011 Tides Edge Lane lot: 17, Frisco, NC 27936
      View Details
    • $167,000

      Waterfront Land in Brigands Bay

      Canalfront lot with southwest exposure and paid water impact fee.
      50237 Freebooter Court lot: 194, Frisco, NC 27936
      View Details
    • $147,500

      Waterfront Land in Frisco, NC

      High ridge parcel overlooking canal and Pamlico Sound.
      50236 Timber Trail lot: 12, Frisco, NC 27936
      View Details
    • $155,000

      Residential Land in Frisco, NC

      Residential land in a peaceful coastal neighborhood, close to beaches.
      50793 Timber Trail lot: 33, Frisco, NC 27936
      View Details
    • $185,000

      Canal Front Lot in Frisco

      Canal front lot with easy access to Hatteras Inlet.
      50181 Treasure Court lot: 453, Frisco, NC 27936
      View Details
    • $197,500

      Waterfront Land in Frisco, NC

      Canal front lot with Pamlico Sound access in Frisco.
      50314 Snug Harbor Drive lot: # 339, Frisco, NC 27936
      View Details
    • $130,000

      Frisco, NC High Elevation Land

      High elevation lot in established neighborhood, near sound access.
      50265 Timber Trail lot: 12, Frisco, NC 27936
      View Details
    • $280,000

      Sound Front Land in Frisco

      4.5 acre sound front parcel with upland area.
      NC 12 Highway lot: 1, Frisco, NC 27936
      View Details
    • $194,000

      Prime Frisco Homesite Opportunity

      Homesite near the ocean, ideal for rental or residence.
      54227 Cape Hatteras Drive lot: 7, Frisco, NC 27936
      View Details

    FAQs

    What type of property is this?
    Waterfront Land - Priced oceanfront lot in Marlin Village, Hatteras Island.
    Where is this waterfront land located?
    The property is located at 54119 Marlin Drive lot 12 Frisco, NC.
    What is the asking price?
    The asking price for this property is $399,000.
    What are key features of this property?
    This property features: Oceanfront lot on Hatteras Island; 2025 Survey on file; South‑facing beach with flatter terrain
    (252) 996-0104
    We can help!
    Listing Contact
    Trafton Reynolds
    Trafton Reynolds
    Real Estate License ID: 265864
    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
    54119 Marlin Drive lot: 12, Frisco, NC 27936
    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!