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    The Largest CRE Database in the US with Over 1 Million Listings

    4066 Legion Rd Hope Mills, NC 28348

    Sponsored
    For Sale
    $395,000

    1.13 Acres, $395,000 - High Potential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    411
    This exceptional 1.13-acre commercial land parcel presents a compelling investment opportunity in the thriving Hope Mills, North Carolina market. Located at 4066 Legion Rd, zip code 28348, this property is ideally situated amidst a cluster of successful businesses, ensuring high visibility and accessibility. Currently zoned R-10 (residential), the land offers significant potential for rezoning to accommodate a variety of commercial uses. Preliminary assessments suggest suitability for ventures such as convenience stores, gas stations, fast-food restaurants, or full-service restaurants. The property boasts readily available water and sewer infrastructure, simplifying development and reducing upfront costs. Priced at $395,000, this translates to approximately $349,558 per acre, reflecting the strategic value of this location within Cumberland County. The property's prime location and potential for commercial development make it an attractive proposition for investors seeking strong returns in a dynamic market. Serious inquiries are encouraged to explore the possibilities of this promising land investment.

    Property Features for 4066 Legion Rd

    General Information

    Property type
    Land
    Lot Size
    49,223 SF

    We can help!

    Listing Contact
    Greg Spears
    Greg Spears

    Learn more

    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Hope Mills
    County
    Cumberland
    State
    North Carolina
    Longitude
    -78.9280821
    Latitude
    34.9855458

    Nearby Comparable

    • $325,000
      Pending

      Hope Mills Commercial Land Available

      29.66 acres of commercial and residential land for sale.
      Legion Rd, Hope Mills, NC 28348
      View Details
    • $379,000
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      Hope Mills Commercial Opportunity

      Adaptable office/showroom with workshop on high-traffic Legion Road.
      3840 Legion Rd, Hope Mills, NC 28348
      View Details
    • $1,332,913
      9,026 SF

      Dollar General Net Lease Investment

      High-Yield NC Retail Property, 1.4 Years Remaining
      3701 Legion Rd, Hope Mills, NC 28348
      View Details
    • New
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      Fayetteville Commercial/Industrial Land Available

      1.35 acres zoned for commercial and industrial use.
      3966 Camden Road Ext, Fayetteville, NC 28306
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      Camden Road Commercial Land Parcel

      0.69-acre commercial lot in Fayetteville, NC.
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    • $400,000
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      Fayetteville Land with Road Frontage

      4.35 acres with road frontage near major highways.
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    • $310,000
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      Hope Mills Medical/Office Space

      Medical/office space on corner lot in Hope Mills, NC.
      4950 Cameron Rd, Hope Mills, NC 28348
      View Details
    • $1,220,000
      25 SF

      Industrial Land Ready for Development

      Cleared industrial property near I-95, ready for development.
      500 Tom Starling Rd, Hope Mills, NC
      View Details

    Nearby Similar for Sale

    • $310,000
      Pending

      Hope Mills Medical/Office Space

      Medical/office space on corner lot in Hope Mills, NC.
      4950 Cameron Rd, Hope Mills, NC 28348
      View Details
    • $189,999

      Hope Mills Duplex Investment Opportunity

      Duplex with value-add potential near Hope Mills Lake.
      3913 Ellison St, Hope Mills, NC 28348
      View Details
    • $379,000
      3.00 Acres

      Hope Mills Commercial Opportunity

      Adaptable office/showroom with workshop on high-traffic Legion Road.
      3840 Legion Rd, Hope Mills, NC 28348
      View Details
    • $1,332,913
      9,026 SF

      Dollar General Net Lease Investment

      High-Yield NC Retail Property, 1.4 Years Remaining
      3701 Legion Rd, Hope Mills, NC 28348
      View Details

    FAQs

    What type of property is this?
    Land - 1.13 Acres, $395,000 - High Potential
    Where is this land located?
    The property is located at 4066 Legion Rd Hope Mills, NC.
    What is the asking price?
    The asking price for this property is $395,000.
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    4066 Legion Rd Hope Mills, NC 28348
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    Hope Mills, NC 28348
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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
    4066 Legion Rd Hope Mills, NC 28348
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    We can help!
    Listing Contact
    Greg Spears
    Greg Spears
    Real Estate License ID: NC 272060
    Learn more
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