Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Land Fronting Pisgah National Forest Title is generated by Realmo AI

    999 NC 209 Highway, Hot Springs, NC 28743

    View on Map
    Claim this Listing
    For Sale
    $240,000

    LAND - Hot Springs, NC

    Lot size:
    19.22 Acres
    Added:
    Sep 24, 2025
    Days on Market:
    239
    Last Refresh:
    May 20 at 2:06 am

    Property Features for 999 NC 209 Highway

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R-1
    Standard status
    Active
    APN
    8769-03-5300
    Lot size
    19.22 Acres

    Taxes and HOA fees

    Tax Description
    Madison County PIN 8769035300 deed 624/499, 19.22 acres, lot 9

    Utilities

    Sewer type
    Septic Needed
    Water source
    Well Needed

    We can help!

    Listing Contact
    Justin Grogan

    Listing agent Justin Grogan

    Listing office Keller Williams Professionals 48 Grove St, asheville, NC

    Listing date Sep 24, 2025

    MLS# 4304905 Listing URL

    Copyright © 2026 Canopy MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Direct frontage on Pisgah National Forest
    • Nearly 20 acres of land
    • Only 2 miles from downtown Hot Springs
    • Cleared, gently sloping area suitable for homesite
    • Easy access via logging road easement
    • Potential for long‑range mountain views with selective clearing

    Overview

    This property features nearly 20 acres with direct frontage on the Pisgah National Forest, situated approximately 2 miles from downtown Hot Springs and within minutes of the Appalachian Trail. Access is facilitated by a logging road easement. The land includes a cleared, gently sloping area that may be suitable for a homesite. A trail extends to a ridge and summit bordering the national forest. The wooded terrain is conducive to hiking, recreation, or use as a private mountain retreat. Selective clearing may reveal long-range mountain views from the ridge. This property combines privacy, usability, and proximity to town. The zoning is R-1.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Recreation land

    Suggested Use

    Restaurant Real Estate Agency Hotel & Motel Daycare Center Wine and Liquor Store Carpet & Flooring Store Restaurant Travel Agency Parking Lot & Garage Bed & Breakfast

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

    Location Insight

    • Map
    • Local Demand
    City
    Hot Springs
    County
    Madison
    State
    North Carolina
    Longitude
    -82.835121
    Latitude
    35.878367

    Nearby Similar for Sale

    • $299,000

      Renovated Commercial Property in Hot Springs

      Turnkey commercial property in a high-traffic tourist destination.
      24 Andrews Avenue S, Hot Springs, NC 28743
      View Details
    • $475,000

      Land with RV Campground Infrastructure

      14.33 acres suitable for glamping, equestrian, or private estate.
      137 Cowboy Lane, Hot Springs, NC 28743
      View Details
    • $1,300,000

      Turnkey Cabin Business Opportunity

      Established short-term rental business with high occupancy and mountain views.
      5830 NC 209 Highway, Hot Springs, NC 28743
      View Details
    • $325,000
      1,108 SF

      Renovated Commercial Building in Hot Springs

      Fully renovated commercial building in the heart of Hot Springs.
      24 Andrews Avenue S #3, Hot Springs, NC 28743
      View Details
    • $150,000

      Hot Springs Land with Views

      6.22 acres with scenic views near Appalachian Trail.
      7130 Max Patch Road, Hot Springs, NC 28743
      View Details
    • $85,000

      Mountain Land Parcel in Hot Springs

      4.8-acre parcel for a private retreat near Hot Springs.
      9999 Fox Town Road, Hot Springs, NC 28743
      View Details
    • $20,000

      Secluded Hot Springs Land Parcel

      3+ acre lot with road access and potential views.
      Cat Pen Branch Road lot: 21, Hot Springs, NC 28743
      View Details
    • $475,000

      RV Campground with Expansion Potential

      Operating RV campground with infrastructure and expansion possibilities.
      137 Cowboy Lane, Hot Springs, NC 28743
      View Details
    • $49,000

      Land in Blue Ridge Mountains

      2.9-acre parcel ideal for development or private getaway.
      Plum Tree Holler Drive, Hot Springs, NC 28743
      View Details
    • $348,500

      Land Adjoining National Forest

      29+ acres with privacy, paved access, and utilities.
      890 Panther Branch Road, Hot Springs, NC 28743
      View Details
    • $1,190,000

      Versatile Homestead in Hot Springs

      184-acre homestead with two houses, greenhouse, and commercial building.
      8020 Meadow Fork Road, Hot Springs, NC 28743
      View Details
    • $164,500

      Corner Lot with Stone Building

      Half-acre lot with a 1950s stone building and residence.
      41 Upper Shut In Road, Hot Springs, NC 27843
      View Details

    FAQs

    What type of property is this?
    Recreation land - 19+ acres near Hot Springs, NC, with forest access.
    Where is this recreation land located?
    The property is located at 999 NC 209 Highway Hot Springs, NC.
    What is the asking price?
    The asking price for this property is $240,000.
    What are key features of this property?
    This property features: Direct frontage on Pisgah National Forest; Nearly 20 acres of land; Only 2 miles from downtown Hot Springs
    (828) 246-3933
    We can help!
    Listing Contact
    Justin Grogan
    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
    999 NC 209 Highway, Hot Springs, NC 28743
    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!