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    Sapphire, NC Homesite with Views Title is generated by Realmo AI

    Yarak Drive lot 1R, Sapphire, NC 28774

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    Claim this Listing
    For Sale
    $132,999

    LAND - Sapphire, NC

    Lot size:
    7.31 Acres
    Added:
    May 28, 2025
    Days on Market:
    359
    Last Refresh:
    May 21 at 8:06 pm

    Property Features for Yarak Drive lot 1R

    General Information

    Property type
    Land
    Property subtype
    Other
    Exterior features
    Barbecue
    Standard status
    Active
    APN
    8502-47-2315
    Lot size
    7.31 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    410

    Utilities

    Water source
    Private, Well

    We can help!

    Listing Contact
    Cassie Neal

    Listing agent Cassie Neal License #202537

    Listing office Silver Creek Real Estate Group, Inc. 341 US Hwy 64 W Ste 102 P. O. Box 430, Cashiers, NC

    Listing date May 28, 2025

    MLS# 1001013 Listing URL

    Copyright © 2026 Highlands Cashiers Board 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.

    HighLights

    • Breathtaking, long‑range layered mountain views stretching into South Carolina at over 4,000 feet elevation.
    • Access to Sapphire Valley Resort amenities including pools, tennis, golf, lake access, and winter sports.
    • 7.31‑acre homesite with easy paved access, partially cleared building site, and a current four‑bedroom septic permit.
    • Waterfall feature on the property with potential for trails.
    • Close proximity to Panthertown Valley's 6,300‑acre wilderness area with hiking trails and waterfalls.
    • Access to Falcon Ridge community area with pavilion and bonfire ring.

    Overview

    This 7.31-acre homesite offers long-range views from an elevation of over 4,000 feet in the Falcon Ridge community of Sapphire, North Carolina. The lot provides layered mountain vistas and a setting for a mountain retreat. It is set back from Tower Road, with paved access and a partially cleared building site. A waterfall flows through the lower portion of the property. The homesite includes a current four-bedroom septic permit and a recent survey on file. Falcon Ridge requires a minimum home size of 2,400 square feet. Amenities include access to a community area featuring a pavilion and bonfire ring. The property is minutes from Panthertown Valley, a 6,300-acre wilderness area known for its hiking trails and waterfalls. Ownership also includes access to Sapphire Valley Resort amenities, including heated pools, tennis and pickleball courts, a fitness center, a nine-hole golf course, and Fairfield Lake for swimming and boating. Winter activities include skiing, snow tubing, and snowboarding.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Sapphire
    County
    Transylvania
    State
    North Carolina
    Longitude
    -83.00032
    Latitude
    35.132721

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    FAQs

    What type of property is this?
    Residential land & home lot - 7.31-acre homesite with long-range views and resort amenities.
    Where is this residential land & home lot located?
    The property is located at Yarak Drive lot 1R Sapphire, NC.
    What is the asking price?
    The asking price for this property is $132,999.
    What are key features of this property?
    This property features: Breathtaking, long‑range layered mountain views stretching into South Carolina at over 4,000 feet elevation.; Access to Sapphire Valley Resort amenities including pools, tennis, golf, lake access, and winter sports.; 7.31‑acre homesite with easy paved access, partially cleared building site, and a current four‑bedroom septic permit.
    (828) 226-0383
    We can help!
    Listing Contact
    Cassie Neal
    Real Estate License ID: 202537
    Learn More
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    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.

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