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    6847 Race Track Road Castalia, NC 27816

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    For Sale
    $725,000

    69.95 acres in Nash County, NC, zoned A1 Agricultural.

    Type:Land / Unimproved Land
    Lot size:
    69.95 Acres
    Added:
    Sep 25, 2025
    Days on Market:
    206
    Last Refresh:
    Mar 13 at 5:56 pm

    Property Features for 6847 Race Track Road

    General Information

    Standard status
    Active
    Lot size
    69.95 Acres
    Property subtype
    Land / Unimproved Land

    We can help!

    Listing Contact
    Emma Douglass

    Listing agent Emma Douglass License #300637

    Listing office Costello Real Estate & Investm

    Listing date Sep 25, 2025

    Source Compass

    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 Costello Real Estate & Investm

    Overview

    69.95 Acres Ready for Development

    This property features 69.95 total acres available for development or private use, situated in Nash County, NC. The land consists of four parcels and is currently zoned A1 Agricultural. A new $420,000 home has been built on an adjacent property at the front of the land.
    Location Intelligence

    Current Use by Public Records

    Agricultural land / Farmland

    Suggested Use

    Kitchen & Bath Showroom Plumbing Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Castalia
    County
    Nash
    State
    North Carolina
    Longitude
    -78.0761154
    Latitude
    36.0550075

    Nearby Similar for Sale

    • $360,000

      23 Acres of Versatile Land

      Land with open fields, woods, and a small creek.
      8501 Edwards Road, Castalia, NC 27816
      View Details
    • $140,000

      Wooded Lots in Castalia, NC

      4+ acres of wooded land, ideal for homesteading or hobby farm.
      7375 Simmons Road, Castalia, NC 27816
      View Details
    • $675,000

      Nash County Land For Sale

      69.95 acres of land in Nash County, North Carolina.
      6847 Race Track Road, Castalia, NC 27816
      View Details
    • $74,900

      Land for Residential Development

      Unimproved land suitable for building a home in Castalia, NC.
      0 Nc 56 Highway, Castalia NC 27816, Castalia, NC 27816
      View Details
    • $60,000

      1.04 Acre Lot with House

      1.04 acre lot with house needing evaluation and remodeling.
      691 Nc 58 Hwy, Castalia, NC 27816
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    • $550,000
      1,548 SF

      20-Acre Functioning Farm with Home

      Farm-ready property with modular home, livestock, and agricultural setup.
      8011 Simmons Road, Castalia, NC 27816
      View Details

    FAQs

    What type of property is this?
    Land - 69.95 acres in Nash County, NC, zoned A1 Agricultural.
    Where is this land located?
    The property is located at 6847 Race Track Road Castalia, NC.
    What is the asking price?
    The asking price for this property is $725,000.
    What are key features of this property?
    This property features: 69.95 total acres suitable for development or private use; Consists of 4 total parcels; Zoned A1 Agricultural
    (919) 448-5506
    We can help!
    Listing Contact
    Emma Douglass
    Real Estate License ID: 300637
    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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