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    C.f. Harvey Pkwy Kinston, NC 28501

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    C.f. Harvey Pkwy Kinston, NC 28501

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    • Land
    • 51.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 C.f. Harvey Pkwy

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

    Description

    Two tracts of land totaling approximately 198 acres are available for sale in Kinston, North Carolina. This exceptional offering presents a unique opportunity for industrial or commercial development. The property is strategically located on C.F. Harvey Parkway and Sanderson Way, providing excellent access and visibility. One tract is situated along the Northern Southern Railway line, offering significant logistical advantages for businesses requiring rail access. This larger tract can be subdivided into smaller parcels, with a minimum size of 75 acres for each division. The land is priced at $28,000 per acre, resulting in a total asking price of approximately $5,544,000. The smaller tract is located on Sanderson Way, Lot 1, and offers additional development potential. The property is zoned for commercial and industrial uses, making it suitable for a wide range of projects. Detailed site plans and surveys are available upon request. This is a rare opportunity to acquire a substantial land holding in a growing area of North Carolina. The property's size, location, and rail access make it an ideal investment for developers seeking large-scale projects or businesses requiring significant space and logistical capabilities. The property is situated in Lenoir County and Kinston, NC, with zip codes 28501 and 28504.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Kinston
    County
    NC
    State
    North Carolina
    Longitude
    -77.6742
    Latitude
    35.2741

    Comparable in this City

    • Value Estimation by Request

      1660 Dunn Rd

      Land
      1660 Dunn Rd, Kinston, NC 28501
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      15.80 Acres

      Executive Dr

      Land • 15.80 Acres
      0 Executive Dr, Kinston, NC 28501
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      3.60 Acres

      Dr Mlk Jr Blvd

      Land • 3.60 Acres
      0 Dr Mlk Jr Blvd, Kinston, NC 28501
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      1.97 Acres

      Hwy 258

      Land • 1.97 Acres
      0 Hwy 258, Kinston, NC 28501
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    • Value Estimation by Request
      1,404 SF

      Ferrell Rd

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 1,404 SF
      Ferrell Rd, Kinston, NC 28501
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    • Value Estimation by Request
      96,000 SF

      445 Park Ave

      Distribution properties • 96,000 SF
      445 Park Ave, Kinston, NC 28501
      View Details

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      86,317 SF

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      14,000 SF

      Industrial Warehouse with Fenced Yard

      14,000 sq ft warehouse with loading dock and office.
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      Prime Kinston Land Opportunity

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      Lenoir County Industrial Property

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      0.40 Acres

      Kinston, NC Corner Lot

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      0.18 Acres

      Kinston Land in Historic District

      Infill development opportunity near downtown Kinston's amenities.
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    Similar Nearby for Lease

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      Prime Pad Site For Rent

      Commercial land for rent in Kinston, NC.
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      2,160 SF

      Kinston Office Space For Lease

      2,100 SF office space ideal for various professional uses.
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      Highway 70 Retail Space

      Retail and restaurant space available on Highway 70 East.
      1945 S 70, Kinston, NC 28501
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      Retail Building Near Vernon Avenue

      Retail building near Vernon Ave with existing lease in place.
      809 Mitchell St, Kinston, NC 28501
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    Kinston, NC 28501
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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.

    More about this property
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    C.f. Harvey Pkwy, Kinston, NC, 28501

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