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    2648 Falling Creek Rd Kinston, NC 28504
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    2648 Falling Creek Rd Kinston, NC 28504

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    • Residential land & home lots
    Off-Market
    Property ID
    US53-2541365
    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

    • Residential land & home lots

    Property Details for 2648 Falling Creek Rd

    Property type
    Residential land & home lots
    Property subtype
    Agricultural land / Farmland

    Description

    Beautiful Lenoir County land ready to be your dream farm or next residential development. 1,000 feet of road frontage on Falling Creek Rd. 38 acres clear and another 42 acres wooded. Trees harvested approximately 14 years ago. Small 1,200 square foot brick home located on road. Tri County Electric, City of Kinston water.

    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
    Kinston
    County
    Lenoir
    State
    North Carolina
    Longitude
    -77.6948043
    Latitude
    35.2903318

    Comparable in this City

    • Contact for pricing

      194 Acres on US Highway

      194-acre property with dual zoning on US Highway 70.
      4763 Us Highway 70, Kinston, NC 28504
      View Details
    • $400,000
      75.00 Acres

      75 Acres Near Kinston

      75 acres of agricultural land with road frontage near Kinston.
      Will Baker Rd, Kinston, NC 28504
      View Details
    • $35,000
      1.59 Acres

      Vacant Lot in Kinston, NC

      Large 1.59 acre vacant lot for residential construction.
      Fox Run Cir, Kinston, NC 28504
      View Details
    • Contact for pricing
      0.92 Acres

      Residential Land in Kinston, NC

      Wooded 0.92 acre lot in Branchwood subdivision.
      11 Brookwood Rd, Kinston, NC 28504
      View Details
    • Contact for pricing
      0.42 Acres

      Wooded Lot Near Kinston

      0.42 acre wooded lot convenient to Kinston, North Carolina.
      Hwy 11 S, Kinston, NC 28504
      View Details
    • Contact for pricing
      Pending

      Residential Lot in Kinston, NC

      Vacant lot ready for new construction in a convenient location.
      902 Rosanne Dr, Kinston, NC 28504
      View Details

    Similar Nearby for Sale

    • $400,000
      75.00 Acres

      75 Acres Near Kinston

      75 acres of agricultural land with road frontage near Kinston.
      Will Baker Rd, Kinston, NC 28504
      View Details
    • Contact for pricing

      194 Acres on US Highway

      194-acre property with dual zoning on US Highway 70.
      4763 Us Highway 70, Kinston, NC 28504
      View Details
    • $35,000
      1.59 Acres

      Vacant Lot in Kinston, NC

      Large 1.59 acre vacant lot for residential construction.
      Fox Run Cir, Kinston, NC 28504
      View Details
    • Contact for pricing
      0.92 Acres

      Residential Land in Kinston, NC

      Wooded 0.92 acre lot in Branchwood subdivision.
      11 Brookwood Rd, Kinston, NC 28504
      View Details
    • $45,000
      4.36 Acres

      Kinston Vacant Land Opportunity

      4.36-acre lot in Kinston, NC, ideal for homesite.
      Hwy 58 NW, Kinston, NC 28504
      View Details
    • Contact for pricing
      0.42 Acres

      Wooded Lot Near Kinston

      0.42 acre wooded lot convenient to Kinston, North Carolina.
      Hwy 11 S, Kinston, NC 28504
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Piggly Wiggly Center

      Freestanding retail building with high visibility and ample parking.
      2240 Us-258, Kinston, NC 28504
      View Details
    • Contact for pricing
      97,270 SF

      Kinston Warehouse Space Available

      97,270 square foot warehouse space for lease in Kinston.
      222 North Carolina 58, Kinston, NC 28504
      View Details
    • Contact for pricing
      5,202 SF

      Kinston Flex Space Opportunity

      Versatile flex space available near Highway 11 and Global TransPark.
      2585 Hwy 11 N, Kinston, NC 28504
      View Details
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    2648 Falling Creek Rd
    Kinston, NC 28504
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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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