Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search

    504 Riversound Dr Edenton, NC 27932

    Sponsored
    For Sale
    $42,500

    1-Acre Wooded Lot in Gated Community

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    405
    This exceptional 1-acre commercial lot ($42,500) is located in the prestigious Riversound gated community in Edenton, North Carolina (zip code 27932). Situated on a private road within the subdivision, this wooded lot offers 43,560 square feet of buildable space. The property's R25 zoning allows for various commercial development opportunities. Its ideal location provides convenient access to community amenities, including a playground, boat ramp, and clubhouse. Riversound boasts a scenic waterfront setting along the Yeopim River and Middleton Creek, offering water access for all property owners. The lot is identified as Block 42(a-j) and the 2023 tax records are available upon request. This presents a unique chance to acquire a prime commercial parcel in a desirable, established community with excellent access to recreational facilities and natural beauty. The current use is residential, but the R25 zoning opens doors to a variety of commercial ventures. This is a rare opportunity to invest in a thriving waterfront community.

    Property Features for 504 Riversound Dr

    General Information

    Property type
    Land
    Lot Size
    43,560 SF

    We can help!

    Listing Contact
    Jeremy VanHorn
    Jeremy VanHorn

    Learn more

    HighLights

    • 1‑acre commercial lot, $42,500.
    • 43,560 square feet.
    • Located on a private road within Riversound subdivision.
    • Wooded lot in the prestigious Riversound gated community, Edenton, NC (27932).
    • R25 zoning.
    • Currently residential, but suitable for various commercial uses.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Veterinary Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Edenton
    County
    Chowan
    State
    North Carolina
    Longitude
    -76.479049
    Latitude
    36.087364

    Nearby Similar for Sale

    • $545,000
      2,700 SF

      Renovated Triplex in Historic District

      Turnkey triplex in Edenton's historic downtown with income potential.
      207 S Oakum St, Edenton, NC 27932
      View Details
    • $350,000
      Pending

      Charming Quad Apartment Building

      Quad apartment building, one block from downtown, great investment.
      207 E Church St, Edenton, NC 27932
      View Details
    • $199,900
      2,044 SF

      Income-Producing Duplex Near Downtown

      Duplex with two units, rented, near downtown Edenton, NC.
      313 N Granville St, Edenton, NC 27932
      View Details
    • $299,900
      1,752 SF

      Remodeled Duplex in Edenton, NC

      Remodeled brick duplex with tenant in place in Edenton.
      150 Shannonhouse Rd, Edenton, NC 27932
      View Details
    • $3,500,000
      38,400 SF

      Industrial Warehouse with Crane Rails

      38,400 SF industrial building on 8.42 acres for sale.
      109 Anchors Way Dr, Edenton, NC 27932
      View Details
    • $1,332,850
      6 SF

      Retail Building on Broad Street

      Free-standing retail building on 0.79 acres available for sale.
      1107 N Broad St, Edenton, NC 27932
      View Details
    • $529,000
      Pending

      Waterfront Land on Chowan River

      30 acres of waterfront land near Historic Edenton, NC.
      3047 Bass Landing Rd, Edenton, NC 27932
      View Details
    • $495,000
      3,150 SF

      Edenton Commercial Building - Prime Location

      Spacious building, half-acre lot, ideal for various uses.
      1328 Broad St, Edenton, NC 27932
      View Details
    • $695,000
      7,000 SF

      Downtown Edenton Commercial Building

      7,000 SF Commercial Space - $695,000
      309 Broad St, Edenton, NC 27932
      View Details
    • $4,923,567
      14,821 SF

      Walgreens Pharmacy Investment

      Prime NC Retail Net Lease, 10.8 Years Left
      717 Broad St, Edenton, NC 27932
      View Details

    FAQs

    What type of property is this?
    Land - 1-Acre Wooded Lot in Gated Community
    Where is this land located?
    The property is located at 504 Riversound Dr Edenton, NC.
    What is the asking price?
    The asking price for this property is $42,500.
    What are key features of this property?
    This property features: 1-acre commercial lot, $42,500.; 43,560 square feet.; Located on a private road within Riversound subdivision.
    Request Owner's contact information
    504 Riversound Dr Edenton, NC 27932
    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.
    504 Riversound Dr
    Edenton, NC 27932
    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
    504 Riversound Dr Edenton, NC 27932
    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

    We can help!
    Listing Contact
    Jeremy VanHorn
    Jeremy VanHorn
    Real Estate License ID: NC 310552
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.