Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Sanford Land Investment Opportunity Title is generated by Realmo AI

    Colon Road, Sanford, NC 27330

    View on Map
    Claim this Listing
    For Sale
    $3,830,000

    LAND - Sanford, NC

    Lot size:
    95.00 Acres
    Added:
    Mar 17, 2026
    Days on Market:
    66
    Last Refresh:
    May 21 at 10:06 pm

    Property Features for Colon Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R 20/ RR
    Vegetation
    Heavily Wooded
    Standard status
    Active
    APN
    965328443900
    Lot size
    95.00 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    968 : NORTHEAST LEE
    Tax Annual Amount
    212

    Utilities

    Utilities
    Water Available
    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Harrison Tulloss

    Listing agent Harrison Tulloss License #183466

    Listing office Coldwell Banker HPW 9051 Strickland Rd. Ste 200, Raleigh, NC

    Listing date Mar 17, 2026

    MLS# 10153548 Listing URL

    Copyright © 2026 Doorify 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

    • 95+/- acre property in Sanford growth corridor along Hwy 421
    • Designated Suburban Neighborhood, supporting future residential development
    • Public water and sewer available
    • Excellent access and visibility near major transportation routes
    • Located near expanding residential development and employment centers
    • Opportunity for residential or mixed‑use development

    Overview

    This is an investment opportunity to acquire a 50% ownership interest in approximately 95+/- acres located within the Sanford growth corridor along Hwy 421. The property benefits from its location within a strong growth corridor, offering excellent access and visibility near major transportation routes. According to the Sanford/Lee County comprehensive plan, the property is designated as Suburban Neighborhood, which supports future residential development, with public water and sewer services available in the area. This offering presents an opportunity for an investor or development partner to acquire a 50% ownership interest in a well-positioned tract directly in the path of growth. The property is located near expanding residential development and employment centers, making it suitable for future residential or mixed-use development as the market continues to expand south of Sanford. The buyer would acquire a 50% ownership interest alongside an existing partner. Additional details regarding ownership structure are available upon request. The zoning is R 20/ RR.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Sanford
    County
    Lee
    State
    North Carolina
    Longitude
    -79.162228
    Latitude
    35.502265

    Nearby Similar for Sale

    • $675,000
      3,550 SF

      Historic Home, Sanford, NC

      Restored historic home ideal for office or event space.
      202 W Main Street, Sanford, NC 27332
      View Details
    • $975,000
      8,360 SF

      Downtown Sanford Commercial Building For Sale

      Two-story, 8,360 SF commercial building on 0.55-acre lot.
      1500 S Horner Boulevard, Sanford, NC 27330
      View Details
    • $420,000
      5,573 SF

      Sanford Mixed-Use Corner Asset

      High-visibility mixed-use building in Sanford's Central Business District.
      409 Carthage Street, Sanford, NC 27330
      View Details
    • $995,000
      6,000 SF

      Sanford Mixed-Use Commercial Opportunity

      Versatile Sanford property with commercial buildings and residential space.
      1110 Hawkins Avenue, Sanford, NC 27330
      View Details
    • $550,000

      Sanford, NC Development Opportunity

      5.23 acre parcel with mixed-use zoning in growing corridor.
      Tramway Road, Sanford, NC 27330
      View Details
    • $279,900

      Waterfront Land in Carolina Lakes

      1.62 acre waterfront homesite in Carolina Lakes gated community.
      226 Clearview Court, Sanford, NC 27332
      View Details
    • $189,000

      Waterfront Lot in Carolina Lakes

      0.37-acre waterfront lot in a gated community.
      233 Clearview Court, Sanford, NC 27332
      View Details
    • $74,900

      Sanford Homesite in Gated Community

      0.58-acre homesite in Carolina Trace's South Landing.
      2027 Long Point Trail, Sanford, NC 27332
      View Details
    • $74,900

      Sanford Homesite in Gated Community

      0.63-acre homesite in Carolina Trace with lake view potential.
      2028 Long Point Trail, Sanford, NC 27332
      View Details
    • $45,000

      Sanford, NC Wooded Lot

      Wooded lot in West Ridge, convenient to Fort Bragg.
      92 Carter Drive, Sanford, NC 27332
      View Details
    • $700,000
      3,550 SF

      Historic Home in Jonesboro Heights

      Restored historic home suitable for office or event space.
      202 W Main, Sanford, NC 27332
      View Details
    • $38,000

      Residential Lot in Carolina Trace

      0.21 acre lot in desirable Carolina Trace community.
      1790 Irish Boulevard, Sanford, NC 27332
      View Details

    FAQs

    What type of property is this?
    Land - 95+/- acres for residential or mixed-use development in Sanford, NC.
    Where is this land located?
    The property is located at Colon Road Sanford, NC.
    What is the asking price?
    The asking price for this property is $3,830,000.
    What are key features of this property?
    This property features: 95+/- acre property in Sanford growth corridor along Hwy 421; Designated Suburban Neighborhood, supporting future residential development; Public water and sewer available
    (919) 279-2080
    We can help!
    Listing Contact
    Harrison Tulloss
    Real Estate License ID: 183466
    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
    Colon Road, Sanford, NC 27330
    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!