Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    The Largest CRE Database in the US with Over 1 Million Listings

    Tomahawk Ridge Drive lot 61 Collettsville, NC 28611

    View on Map
    Claim this Listing
    For Sale
    $60,000

    LAND - Collettsville, NC

    Lot size:
    3.66 Acres
    Added:
    Mar 26, 2026
    Days on Market:
    37
    Last Refresh:
    May 1 at 3:06 pm

    Property Features for Tomahawk Ridge Drive lot 61

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    3.66 Acres

    We can help!

    Listing Contact
    Allison Penegar

    Listing agent Allison Penegar

    Listing office Realty One Group Results-Boone 719-A Greenway Rd Suite 100, Boone, NC

    Listing date Mar 26, 2026

    MLS# 260622 Listing URL

    Copyright © 2026 High Country Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Land Bordering Pisgah National Forest

    This 3.66-acre lot, located in Collettsville, North Carolina, borders the Pisgah National Forest. Situated at the top of a cul-de-sac, the property offers multiple building sites and potential mountain views with clearing of trees. It is located within the gated community of Forest Creek, near Lenoir, Blowing Rock, and Boone, providing access to shopping and restaurants. The area offers opportunities for outdoor activities such as hiking, fishing, and water sports on nearby creeks and streams. This lot is suitable for a permanent residence, vacation home, or investment property.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Collettsville
    County
    Caldwell
    State
    North Carolina
    Longitude
    -81.667767
    Latitude
    35.947855

    Nearby Similar for Sale

    • $23,000

      Residential Land in Gated Community

      1.7-acre lot in Forest Creek near outdoor activities.
      John Wilson Lane, Collettsville, NC 28645
      View Details
    • $315,000

      Collettsville Land Near National Forest

      20.15 acre parcel bordering Pisgah National Forest.
      Bent Bow Drive lot: 62 & 63, Collettsville, NC 28645
      View Details
    • $319,900

      Land Bordering Pisgah National Forest

      20.39 acre parcel bordering Pisgah National Forest.
      Bent Bow Drive lot: 64 & 65, Collettsville, NC 28611
      View Details
    • $55,000

      Collettsville Land with View Potential

      1.92 acre lot in gated community near outdoor activities.
      Tomahawk Ridge Drive lot: 55, Collettsville, NC 28611
      View Details
    • $66,500

      Collettsville Vacant Lot For Sale

      6.43-acre vacant lot in The Bluffs of Wilson Creek.
      Narrow Gauge Drive, Collettsville, NC 28645
      View Details
    • $58,000

      Collettsville, NC 10-Acre Wooded Land

      10-acre wooded tract in Heartwood Forest Subdivision, Collettsville, NC.
      10 Acres Tahoe Trail, Collettsville, NC 28611
      View Details
    • $49,900

      Large Wooded Lot in Collettsville

      10+ acre lot in established Blue Ridge Mountain subdivision.
      Carsons Way, Collettsville, NC 28611
      View Details
    • $87,500

      Collettsville Land: Build Your Dream

      10.3 acres in gated community near outdoor recreation.
      Quiet Creek Lane, Collettsville, NC 28611
      View Details
    • $24,995

      Land in Gated Community

      2.86-acre lot in The Bluffs of Wilson Creek.
      Collette Ridge Circle, Collettsville, NC 28611
      View Details
    • $75,000

      Land Near Wilson Creek

      3.94 acre property near Wilson Creek with existing utilities.
      4938 NC 90 Highway, Collettsville, NC 28611
      View Details
    • $28,000

      Wooded Land in Forest Creek

      5.45 acres of wooded land; manufactured homes allowed.
      Daisy Place, Collettsville, NC 28611
      View Details
    • $35,000

      Wooded Land in Forest Creek

      6.85 acres of wooded land in Collettsville, North Carolina.
      Daisy Place, Collettsville, NC 28611
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 3.66 acre lot bordering Pisgah National Forest.
    Where is this residential land & home lot located?
    The property is located at Tomahawk Ridge Drive lot 61 Collettsville, NC.
    What is the asking price?
    The asking price for this property is $60,000.
    What are key features of this property?
    This property features: Borders Pisgah National Forest, offering direct access to nature and outdoor activities.; Multiple building sites on a 3.66‑acre lot, providing flexibility in construction.; Potential for beautiful layered mountain views with clearing.
    (828) 406-8016
    We can help!
    Listing Contact
    Allison Penegar
    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

    Tomahawk Ridge Drive lot: 61, Collettsville, NC 28611

    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!