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    Expansive Waterfront Land Opportunity Title is generated by Realmo AI

    W Side Lane, Powells Point, NC 27966

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    Claim this Listing
    For Sale
    $1,300,000

    LAND - Powells Point, NC

    Lot size:
    225.70 Acres
    Added:
    Dec 4, 2024
    Days on Market:
    533
    Last Refresh:
    May 21 at 10:06 pm

    Property Features for W Side Lane

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    AG
    Standard status
    Active
    Lot size
    225.70 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    1673

    Utilities

    Sewer type
    Private Sewer
    Water source
    Private, Well
    Water front
    1

    We can help!

    Listing Contact
    Bobby Harrell
    Bobby Harrell

    Listing agent Bobby Harrell License #77804

    Listing office Harrell & Associates 6701 S Croatan Highway, Nags Head, NC

    Listing date Dec 4, 2024

    MLS# 127638 Listing URL

    Copyright © 2026 Outer Banks 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.

    HighLights

    • 225+ acres of waterfront property on the Albemarle Sound with over a mile of shoreline, offering privacy and expansive space.
    • Direct access to the Albemarle Sound and ICW, providing boating, fishing, and recreational opportunities.
    • Excellent hunting opportunities for deer and waterfowl, with established duck blinds and freshwater ponds stocked with bass and crappie.
    • Potential for multiple secluded waterfront homesites, subdivision, or a private estate, with possible approvals for building multiple homes.
    • Conveniently located +/- 5 miles from the Wright Memorial Bridge, offering easy access to the Outer Banks.
    • Features a charming off‑grid cabin, sandy beaches, and recent road improvements ensuring easy access.

    Overview

    This expansive tract of over 225 acres of land is located along the Albemarle Sound, featuring more than a mile of waterfront. The property is accessed via a private gated road off W Side Lane in Powells Point. Recent road improvements as of October 2024 ensure year-round access. Previously utilized for recreation, the property offers deer and waterfowl hunting opportunities. Freshwater ponds throughout the land harbor bass and crappie, attracting a variety of wildlife, including waterfowl. Several established duck blinds are in place. The property also provides direct access to Striper, Drum, Speckle Trout and White perch. The upland areas offer the potential for creating multiple secluded waterfront homesites, with the possibility of subdividing lots or retaining the entire estate. The current owners have enjoyed an off-grid cabin overlooking one of the freshwater ponds. The property also features sandy beaches along the shoreline. Located approximately 5 miles from the Wright Memorial Bridge, this property offers privacy and access to the Outer Banks.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Map

    City
    Powells Point
    County
    Currituck
    State
    North Carolina
    Longitude
    -75.835613
    Latitude
    36.120373

    Nearby Similar for Sale

    • $1,300,000

      Waterfront Land with Hunting Potential

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    • $357,777

      Semi-Soundfront Lot in Kilmarlic

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      Golf Course View Homesite

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    FAQs

    What type of property is this?
    Waterfront Land - 225+ acres of waterfront land with hunting and recreation.
    Where is this waterfront land located?
    The property is located at W Side Lane Powells Point, NC.
    What is the asking price?
    The asking price for this property is $1,300,000.
    What are key features of this property?
    This property features: 225+ acres of waterfront property on the Albemarle Sound with over a mile of shoreline, offering privacy and expansive space.; Direct access to the Albemarle Sound and ICW, providing boating, fishing, and recreational opportunities.; Excellent hunting opportunities for deer and waterfowl, with established duck blinds and freshwater ponds stocked with bass and crappie.
    (252) 473-7804
    We can help!
    Listing Contact
    Bobby Harrell
    Bobby Harrell
    Real Estate License ID: 77804
    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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