Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Wooded Homesite in Grey Rock Title is generated by Realmo AI

    Grey Rock Parkway, Lake Lure, NC 28746

    View on Map
    Claim this Listing
    For Sale
    $32,500

    LAND - Lake Lure, NC

    Lot size:
    1.94 Acres
    Added:
    May 11, 2026
    Days on Market:
    10
    Last Refresh:
    May 20 at 12:06 am

    Property Features for Grey Rock Parkway

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    1638557
    Lot size
    1.94 Acres

    Taxes and HOA fees

    Tax Description
    GREYROCK LO:250 PH:2A PL:26-115

    Utilities

    Sewer type
    Septic Needed
    Water source
    Well Needed

    We can help!

    Listing Contact
    Sherry Reavis

    Listing agent Sherry Reavis License #SC 81578

    Listing office RE/MAX Journey 121 Laurel Dr, Rutherfordton, NC

    Listing date May 11, 2026

    MLS# 4375481 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

    • Private, wooded lot in Grey Rock at Lake Lure, a gated community.
    • Paid electric assessment ($15,000 value) and ready to build.
    • Convenient access to Lake Lure for boating, fishing, kayaking, and the public beach.
    • Close proximity to Chimney Rock State Park, offering hiking, rock climbing, and stunning views.
    • Paved roads and a minimum 1,800 sq ft build requirement ensure quality and accessibility.
    • Peaceful mountain setting with abundant wildlife, ideal for full‑time or second home.

    Overview

    This 1.94-acre lot is located in the Grey Rock community at Lake Lure, North Carolina. The property offers a private, wooded setting within a gated community nestled in the foothills of the Blue Ridge Mountains. The community is known for its natural beauty and peaceful surroundings. The electric assessment of $15,000 has been paid. Well and septic are required. Grey Rock maintains paved roads throughout the community. There is a minimum 1,800 square foot build requirement. The property is suitable for a full-time home or a second residence. Grey Rock is known for its quiet atmosphere, abundant wildlife, and well-maintained surroundings. Residents have convenient access to the Lake Lure area, including boating, fishing, kayaking, and the public beach. Nearby Chimney Rock State Park offers hiking trails, rock climbing, and views of Hickory Nut Gorge. Additional area attractions include golf courses, equestrian facilities, and outdoor recreation throughout the region.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Lake Lure
    County
    Rutherford
    State
    North Carolina
    Longitude
    -82.171
    Latitude
    35.4643

    Nearby Similar for Sale

    • $998,000

      Lakefront Build Site Opportunity

      Two-acre lakefront lot with new dock in Rumbling Bald Resort.
      004-005 Quail Ridge Boulevard, Lake Lure, NC 28746
      View Details
    • $339,000

      Lake Lure Waterfront Land

      3.64 acre lakefront lot with 150 feet of lakefront.
      595 Quail Ridge Boulevard, Lake Lure, NC 28746
      View Details
    • $121,900

      Lake Lure Motorcoach Resort Lot

      Luxury motorcoach resort lot with mountain views and amenities.
      104 Willis Way, Lake Lure, NC 28746
      View Details
    • $22,500

      Wooded Homesite in Gated Community

      Private, wooded 1.53-acre lot in Grey Rock community.
      Grey Rock Parkway, Lake Lure, NC 28746
      View Details
    • $345,000

      Lake Lure Land with Views

      2.11 acre estate with panoramic views near Lake Lure.
      Half Moon Mile, Lake Lure, NC 28746
      View Details
    • $32,500

      Wooded Homesite in Grey Rock

      Private, wooded lot in gated Lake Lure community.
      Cherokee Trail, Lake Lure, NC 28746
      View Details
    • $32,500

      Lake Lure Mountain Homesite

      Private, wooded homesite in gated Lake Lure community.
      Grey Rock Parkway, Lake Lure, NC 28746
      View Details
    • $29,900

      Buildable Homesite with Mountain Views

      Premier lot in gated community near Lake Lure.
      High Pines Loop, Lake Lure, NC 28746
      View Details
    • $595,000

      Lake Lure Waterfront Land

      Lakefront lot with mountain and lake views in gated community.
      Holmstead Drive, Lake Lure, NC 28746
      View Details
    • $34,900

      Lake Lure Mountain View Land

      Wooded lot with mountain views and community amenities.
      Swallow Lane lot: 229, Lake Lure, NC 28746
      View Details
    • $25,000

      Wooded Lot in Vista Development

      Wooded lot with flat building area and community amenities.
      Rock Ledge Drive, Lake Lure, NC 28746
      View Details
    • $39,000

      Lake Lure Homesite Opportunity

      Gently sloping homesite in Rumbling Bald on Lake Lure.
      Cardinal Road lot: 301, Lake Lure, NC 28746
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Private, wooded homesite in gated Lake Lure community.
    Where is this residential land & home lot located?
    The property is located at Grey Rock Parkway Lake Lure, NC.
    What is the asking price?
    The asking price for this property is $32,500.
    What are key features of this property?
    This property features: Private, wooded lot in Grey Rock at Lake Lure, a gated community.; Paid electric assessment ($15,000 value) and ready to build.; Convenient access to Lake Lure for boating, fishing, kayaking, and the public beach.
    (828) 429-2686
    We can help!
    Listing Contact
    Sherry Reavis
    Real Estate License ID: SC 81578
    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
    Grey Rock Parkway, Lake Lure, NC 28746
    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!