Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    107 Thomas Garst Ln Leland, NC 28451
    Back to Search
    Property profile & analytics

    107 Thomas Garst Ln Leland, NC 28451

    View on Map
    • Commercial land
    For Sale
    $1,750,000
    View Listing →
    Leland Land For Sale For Sale
    $1,750,000
    3.02 Acres

    Leland Land For Sale

    3.02 acres in Leland, excellent visibility, development opportunity.

    107 Thomas Garst Ln, Leland, NC 28451
    View Listing
    Property ID
    US53-1918401
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial land

    Property Details for 107 Thomas Garst Ln

    Property type
    Commercial land
    Property subtype
    Commercial real estate

    Description

    Approximately 3.02 Acres For Sale off of Village Road in the heart of Leland at the intersection of Highway 17/74/76 and 133 and Village Road. This undeveloped site is zoned T5 in the Town of Leland and offers excellent visibility from Highway 17/74/76, Highway 133 and from Village Road making it a viable opportunity for retail, office, hospitality or multi-family development. The property has a double-sided billboard in place that is very prominent to traffic from the highway and it provides some monthly income to the owners. Municipal water and sewer is available along Thomas Garst with approximately 2 60 feet of ROAD FRONTAGE. Traffic counts at Highway 17/74/76 are approximately 70K per day.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Leland
    County
    Brunswick
    State
    North Carolina
    Longitude
    -77.9944177
    Latitude
    34.2341078

    Comparable in this City

    • Contact for pricing
      38,200 SF

      Commercial Lots in Waterford Development

      Commercial lots available in Leland's Waterford Development.
      2040 Olde Regent Way, Leland, NC 28451
      View Details
    • Contact for pricing

      26 Acres on Ocean Highway

      26+ acres with high visibility near Wilmington, North Carolina.
      10118 Blackwell Rd SE, Belville, NC 28451
      View Details
    • $375,000

      Prime Commercial Land in Leland

      0.57-acre parcel in Brunswick Forest, ready for development.
      2005 S Baxter Dr, Leland, NC 28451
      View Details
    • $1,200,000
      2.95 Acres

      Navassa Commercial Land For Sale

      2.95 acres of commercial property near downtown Wilmington.
      Cedar Hill Rd, Navassa, NC 28451
      View Details
    • Contact for pricing

      Prime Commercial Property for Development

      Commercial property in Leland, NC, with development opportunities.
      112 Perry Ave, Leland, NC 28451
      View Details
    • $350,000
      2.04 Acres

      Leland Commercial Land For Sale

      2.04 acres of commercial land in Leland, North Carolina.
      Tract A Leland School Rd NE, Leland, NC 28451
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      38,200 SF

      Commercial Lots in Waterford Development

      Commercial lots available in Leland's Waterford Development.
      2040 Olde Regent Way, Leland, NC 28451
      View Details
    • Contact for pricing

      26 Acres on Ocean Highway

      26+ acres with high visibility near Wilmington, North Carolina.
      10118 Blackwell Rd SE, Belville, NC 28451
      View Details
    • $375,000

      Prime Commercial Land in Leland

      0.57-acre parcel in Brunswick Forest, ready for development.
      2005 S Baxter Dr, Leland, NC 28451
      View Details
    • $1,200,000
      2.95 Acres

      Navassa Commercial Land For Sale

      2.95 acres of commercial property near downtown Wilmington.
      Cedar Hill Rd, Navassa, NC 28451
      View Details
    • Contact for pricing

      Prime Commercial Property for Development

      Commercial property in Leland, NC, with development opportunities.
      112 Perry Ave, Leland, NC 28451
      View Details
    • $350,000
      2.04 Acres

      Leland Commercial Land For Sale

      2.04 acres of commercial land in Leland, North Carolina.
      Tract A Leland School Rd NE, Leland, NC 28451
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Leland Town Center Land Parcels

      Land parcels available for ground lease near Lowe’s in Leland.
      9441 Ploof Rd SE, Leland, NC 28451
      View Details
    • $1.00 SF/Yr

      Leland Corner Site For Lease

      Available for build-to-suit or ground lease in Leland, NC.
      Carol Lynn Dr, Leland, NC 28451
      View Details
    • Contact for pricing

      Leland Commercial Site For Lease

      Available for build-to-suit or ground lease in Leland, NC.
      Carol Lynn Dr NE, Leland, NC 28451
      View Details
    • Contact for pricing
      813 SF

      Leland NC Professional Office Suites

      Professional office suites for lease in Magnolia Village, Leland, NC.
      1022 Grandiflora Dr, Leland, NC 28451
      View Details
    • $35 SF/Yr
      1,892 SF

      New Office/Retail Space Available

      New 1,800 SF office/retail space in Belville, NC.
      42 Waterford Business Ctr, Belville, NC 28451
      View Details
    • $10 SF/Yr
      284,580 SF

      International Commerce Center, Leland NC

      50,220 SF Class A Manufacturing Space
      3811 Int'l Blvd, Leland, NC 28451
      View Details
    View Listing
    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.
    107 Thomas Garst Ln
    Leland, NC 28451
    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
    107 Thomas Garst Ln, Leland, NC, 28451
    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!