Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Troutman Land for Residential Development Title is generated by Realmo AI

    Patterson Street, Troutman, NC 28166

    View on Map
    Claim this Listing
    For Sale
    $196,000

    LAND - Troutman, NC

    Type:Single Family Residence
    Lot size:
    0.75 Acres
    Added:
    Apr 23, 2026
    Days on Market:
    24
    Last Refresh:
    May 16 at 11:06 pm

    Property Features for Patterson Street

    General Information

    Property type
    Land
    Property subtype
    Single Family Residence
    Zoning
    RT
    Standard status
    Active
    Lot size
    0.75 Acres

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Teresa Blackburn
    Teresa Blackburn

    Listing agent Teresa Blackburn License #276519

    Listing office Keller Williams Realty Elite Winston-Salem, NC

    Listing date Apr 23, 2026

    MLS# 1217162 Listing URL

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

    HighLights

    • Two parcels being sold together totaling 0.75 acres.
    • Located in an established downtown Troutman neighborhood.
    • Public sewer and water available at the street.
    • Convenient to walking trail.
    • Convenient to ESC Park.
    • Convenient to Main St businesses.

    Overview

    Two parcels of land are available in a well-established downtown Troutman neighborhood. The parcels, sized at 0.50 acres and 0.25 acres, are being offered together. Public sewer and water are available at the street, with hook-up fees as a buyer expense. A 490 sq. ft. storm drainage easement is located at the bottom of the 0.25-acre Patterson property. The location is convenient to a walking trail, ESC Park, and Main Street businesses. The property is zoned RT.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Troutman
    County
    Iredell
    State
    North Carolina
    Longitude
    -80.887785
    Latitude
    35.705162

    Nearby Similar for Sale

    • $699,900

      Adaptable Commercial Land Opportunity

      5.9 acres in a high-growth area with commercial upside.
      116 Lipe Road, Troutman, NC 28166
      View Details
    • $699,900

      5.9 Acres Investment Opportunity

      5.9-acre property with income-producing homes and commercial growth potential.
      116 Lipe Road, Troutman, NC 28166
      View Details
    • $850,000

      Lake Norman Waterfront Homesite Opportunity

      Rare 0.75-acre waterfront homesite on Lake Norman's main channel.
      168 Willow Point Road, Troutman, NC 28166
      View Details
    • $85,000

      Residential Lot in Growing Troutman

      Spacious lot in Troutman, close to amenities and Lake Norman.
      340 Field Drive, Troutman, NC 28166
      View Details
    • $659,999

      Cleared Land in Troutman, NC

      8.01 acres of cleared land suitable for development.
      433 Lockhard Circle, Troutman, NC 28166
      View Details
    • $2,290,000

      Troutman Land Near County Facilities

      Almost 6 acres in Troutman near rec center and fairgrounds.
      694 N Main Street, Troutman, NC 28166
      View Details
    • $125,000

      Residential Lot in Falls Cove

      Residential lot available in the Streamwood Community.
      179 Streamwood Road, Troutman, NC 28166
      View Details
    • $65,000

      Wooded Lot in Troutman, NC

      0.69-acre wooded lot in downtown Troutman, near Lake Norman.
      Pine State Road, Troutman, NC 28166
      View Details
    • $999,999

      Lake Norman Estate Lot

      Rare 1.64 acre waterfront lot with dock on Lake Norman.
      170 Windwood Lane, Troutman, NC 28166
      View Details
    • $200,000

      Waterfront Land on Lake Norman

      2.722 acre waterfront lot with 255 feet of shoreline.
      426 Morrison Farm Road, Troutman, NC 28166
      View Details
    • $50,000

      Wooded Land Near Charlotte

      1.5 acre wooded lot near Charlotte and Lake Norman.
      Carlyle Road, Troutman, NC 28166
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Two parcels totaling 0.75 acres in downtown Troutman.
    Where is this residential land & home lot located?
    The property is located at Patterson Street Troutman, NC.
    What is the asking price?
    The asking price for this property is $196,000.
    What are key features of this property?
    This property features: Two parcels being sold together totaling 0.75 acres.; Located in an established downtown Troutman neighborhood.; Public sewer and water available at the street.
    (336) 618-0182
    We can help!
    Listing Contact
    Teresa Blackburn
    Teresa Blackburn
    Real Estate License ID: 276519
    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
    Patterson Street, Troutman, NC 28166
    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!