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    18660 State Hwy Rocky Point, NC 28457
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    18660 State Hwy, Rocky Point, NC 28457

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    Property Details for 18660 State Hwy

    Property type
    Land
    Property subtype
    Farms

    Description

    This exceptional 31.3-acre farm property is situated at the highly desirable intersection of Highway 210 and Highway 133 in the Bells Fork area of Rocky Point, North Carolina. Priced at $704,250, this raw land parcel offers significant potential for diverse uses. Currently zoned RA (Rural Agricultural), the property allows for agricultural pursuits, residential development, and limited commercial ventures. Its strategic location provides excellent road frontage and convenient access, making it an attractive option for investors, developers, or individuals seeking a large tract of land. The property boasts a tranquil rural setting while maintaining proximity to local amenities. The versatile zoning and prime location combine to create a unique opportunity in a thriving area. The address is 18660 State Hwy 210, Rocky Point, NC 28457. This 31.3-acre parcel presents a compelling investment in Pender County, North Carolina, offering a blend of rural serenity and convenient accessibility. The property's potential extends to various uses, from farming and residential development to limited commercial opportunities, making it a highly adaptable asset.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Rocky Point
    County
    Pender
    State
    North Carolina
    Longitude
    -77.962
    Latitude
    34.4274

    Comparable in this City

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      135.00 Acres

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      4.25 Acres

      Rocky Point, NC 28457

      VACANT COMMERCIAL LAND
      Rocky Point, NC 28457
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    • Value Estimation by Request
      1.21 Acres

      Avendale Dr

      VACANT COMMERCIAL LAND
      Avendale Dr, Rocky Point, NC 28457
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    • Value Estimation by Request
      1.50 Acres

      21739 Nc Hwy 210

      VACANT COMMERCIAL LAND
      21739 Nc Hwy 210, Rocky Point, NC 28457-8905
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    • Value Estimation by Request
      0.23 Acres

      Rocky Point, NC 28457

      VACANT COMMERCIAL LAND
      Rocky Point, NC 28457
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    • Value Estimation by Request
      0.15 Acres

      Nc 210th Hwy

      VACANT COMMERCIAL LAND
      Nc 210th Hwy, Rocky Point, NC 28457
      View Details

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      31.3 Acres Raw Land

      31.3-acre parcel in Bells Fork area of Rocky Point.
      18660 State Hwy 210, Rocky Point, NC 28457
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    Rocky Point, NC 28457
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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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