Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Tbd Savoy Dr New Bern, NC 28562
    Property profile & analytics

    Tbd Savoy Dr New Bern, NC 28562

    View on Map
    • Land
    • 98.40 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Tbd Savoy Dr

    Lot size
    98.40 lot acres
    Property type
    Land
    Property subtype
    Industrial properties

    Description

    This exceptional 98.4-acre parcel presents a unique investment opportunity in Craven County, North Carolina. Located just off US Highway 70 and the US Highway 43 connector, this largely wooded property offers unparalleled access and visibility. Currently unzoned and outside city limits, this land is ideal for future commercial or residential development, providing significant flexibility for the buyer. The sale includes two parcels, totaling slightly more than 98 acres, and boasts a compelling price per acre of $23,018.29. The property's strategic location benefits from proximity to the burgeoning West New Bern development across US Highway 70. Furthermore, the North Carolina Department of Transportation has plans to extend the US Highway 43 connector to US Highway 17, with the new road situated between these two parcels, promising increased accessibility and value appreciation. The APN is 8-210-23001. This is a rare chance to acquire a substantial tract of land in a rapidly growing area with excellent infrastructure and future development potential. The asking price for this significant land holding is $2,265,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    New Bern
    County
    Craven
    State
    North Carolina
    Longitude
    -77.1474
    Latitude
    35.1102

    Comparable in this City

    • Value Estimation by Request
      3,335 SF

      718 Pollock St

      Distribution properties • 3,335 SF
      718 Pollock St, New Bern, NC 28562
      View Details
    • Value Estimation by Request

      4.8 Acres Racetrack Rd

      Distribution properties
      0 4.8 Acres Racetrack Rd, New Bern, NC 28562
      View Details
    • Value Estimation by Request
      5.20 Acres

      3156 Dr

      Land • 5.20 Acres
      3156 Dr, New Bern, NC 28562
      View Details
    • Value Estimation by Request
      0.48 Acres

      1310 Commerce Dr

      Land • 0.48 Acres
      1310 Commerce Dr, New Bern, NC 28562
      View Details
    • Value Estimation by Request
      0.31 Acres

      3 Paddington Way

      Land • 0.31 Acres
      3 Paddington Way, Trent Woods, NC 28562
      View Details
    • Value Estimation by Request
      1.08 Acres

      1390 Mccarthy Blvd

      Land • 1.08 Acres
      1390 Mccarthy Blvd, New Bern, NC 28562
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Land For Sale

      Land available for sale in New Bern, North Carolina.
      3921 Martin Luther King Junior Blvd, New Bern, NC 28562
      View Details
    • $3,060,000
      Pending

      New Bern Land For Sale

      103.33 acre land parcel in New Bern, North Carolina.
      403 Old Pollocksville Rd, New Bern, NC 28562
      View Details
    • Contact for pricing

      New Bern Warehouse/Distribution/Manufacturing Space

      Warehouse, distribution, or manufacturing space centrally located in New Bern, NC.
      197 Bosch Blvd, New Bern, NC 28562
      View Details
    • Contact for pricing

      Warehouse with Dock and Drive-in

      Warehouse space featuring dock high door and drive-in door.
      197 Bosch Blvd, New Bern, NC 28562
      View Details
    • Contact for pricing
      0.12 Acres

      Residential Lot in New Bern

      Residential lot available within the city limits of New Bern.
      Grave St, New Bern, NC 28562
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Land For Lease

      Land available for lease in New Bern, North Carolina.
      3156 Dr, New Bern, NC 28562
      View Details
    • $700 /Mo
      640 SF

      New Bern Commercial Flex Space

      Commercial flex space available for rent in New Bern, NC.
      1263 Colony Dr, New Bern, NC 28562
      View Details
    • $500 /Mo
      177,725 SF

      New Maxi Storage Space Available

      Newly built storage units for lease in New Bern, NC.
      4146 Dr. Mlk Blvd, New Bern, NC 28562
      View Details
    • $7,500 /Mo
      26,450 SF

      Versatile Commercial Space in New Bern

      Adaptable 24,450 SF property with high visibility and accessibility.
      2911 Brunswick Ave, New Bern, NC 28562
      View Details
    • $10 SF/Yr
      23,100 SF

      New Bern Flex Space Available

      Office, warehouse, medical, and flex space for lease.
      3200 Wellons Blvd, New Bern, NC 28562
      View Details
    • Contact for pricing

      Industrial Build-to-Suit Opportunity

      Under construction industrial spaces available for flex, warehouse, distribution.
      201 Industrial Dr, New Bern, NC 28562
      View Details
    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.
    Tbd Savoy Dr
    New Bern, NC 28562
    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
    Tbd Savoy Dr, New Bern, NC, 28562
    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!