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    560 W Manchester Road Spring Lake, NC 28390

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    Claim this Listing
    For Sale
    $359,000

    MULTI_FAMILY - Spring Lake, NC

    Lot size:
    4.80 Acres
    Added:
    Apr 15, 2026
    Days on Market:
    24
    Last Refresh:
    May 8 at 3:06 am

    Property Features for 560 W Manchester Road

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    APN
    9592-94-7346
    Lot size
    4.80 Acres

    Taxes and HOA fees

    Tax Description
    IMP 4.80 ACS LD

    Utilities

    Cooling system
    Central Air, Electric

    Building Details

    Number of units
    4
    Flooring type
    Vinyl, Carpet

    We can help!

    Listing Contact
    EMELIA NOA

    Listing agent EMELIA NOA License #218506

    Listing office THE ENTENTE REAL ESTATE GROUP 1931 DANTE LANE SUITE #203, FAYETTEVILLE, NC

    Listing date Apr 15, 2026

    MLS# 760759 Listing URL

    Copyright © 2026 Longleaf Pine 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

    • Four detached single‑family homes on approximately 4.8 acres, offering flexibility and privacy.
    • Located in the expanding Spring Lake/Fort Liberty growth corridor with strong housing demand.
    • Existing cash flow with potential for increased rents.
    • Potential for future site refinement and density enhancement through rezoning (buyer to verify).
    • Combination of public sewer and septic systems.
    • Some capital improvements already completed; potential for additional roof improvements.

    Overview

    Spring Lake Residential Investment Opportunity

    This residential investment opportunity is located within the expanding Spring Lake and Fort Liberty growth corridor. The property consists of four individual single-family homes situated on approximately 4.80 acres with direct road frontage. The property offers the flexibility and privacy of detached residential homes. The combination of existing cash flow, land scale, and surrounding development activity creates an opportunity for investors seeking both immediate income and strategic positioning. The property currently operates under legacy non-conforming zoning characteristics, creating an opportunity for purchasers with land planning, entitlement, redevelopment, or infill development vision to evaluate potential future site refinement and density enhancement strategies. The overall parcel size, existing residential footprint, and surrounding development trends may support additional long-term upside potential for qualified buyers pursuing strategic redevelopment concepts. Existing rents appear to present future upside potential relative to evolving market conditions. Some capital improvements have already been completed, and ownership may consider additional roof improvements with an acceptable offer prior to closing. The property features a combination of public sewer and septic systems and is located within a military-influenced corridor with controlled/restricted airspace due to proximity to Fort Liberty. The Spring Lake market continues to experience ongoing residential growth and increased investor interest. No trash service fee; included within property taxes.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Auto Repair Shop Hair Salon Hotel & Motel Auto Parts Store Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Spring Lake
    County
    Cumberland
    State
    North Carolina
    Longitude
    -79.000844
    Latitude
    35.190782

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    FAQs

    What type of property is this?
    Quadplex - Four single-family homes on 4.8 acres in Spring Lake.
    Where is this quadplex located?
    The property is located at 560 W Manchester Road Spring Lake, NC.
    What is the asking price?
    The asking price for this property is $359,000.
    What are key features of this property?
    This property features: Four detached single‑family homes on approximately 4.8 acres, offering flexibility and privacy.; Located in the expanding Spring Lake/Fort Liberty growth corridor with strong housing demand.; Existing cash flow with potential for increased rents.
    (910) 527-8036
    We can help!
    Listing Contact
    EMELIA NOA
    Real Estate License ID: 218506
    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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