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    4338 Calico Rd Lenoir, NC 28645
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    Property profile & analytics

    4338 Calico Rd, Lenoir, NC 28645

    View on Map
    • Commercial real estate
    • 1,608 SF
    • 27.00 lot acres
    Off-Market
    Property ID
    US53-2047132
    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

    • Creek Side Stables / Kennel & Boarding Facility / Animal Training

    Property Details for 4338 Calico Rd

    Lot size
    27.00 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 27-acre property in Lenoir, NC, presents a unique opportunity to acquire a thriving equestrian business. The estate includes a charming 3-bedroom farmhouse and a 3-bedroom mobile home, offering versatile living and rental potential. Five well-maintained horse barns provide ample space for equine residents, complemented by a large workshop/garage for equipment storage. Two outdoor riding arenas cater to equestrian enthusiasts, while the property's proximity to the Blue Ridge Parkway offers additional riding opportunities. Currently operating as Creek Side Stables, the business provides boarding, hay, and tack sales, with significant potential for expansion into lessons, events, or trail rides. The property boasts exceptional hay production, contributing to a self-sustaining operation. A nearby creek provides recreational opportunities like tubing and kayaking. Located in Lenoir, near Caldwell County attractions and amenities, this turnkey operation offers a blend of rural tranquility and convenient access to local services. The asking price includes the land, buildings, and established business. Farm equipment, including tractors, hay equipment, trailers, and more, is available for separate purchase. This is an ideal opportunity for an equestrian enthusiast seeking a profitable and fulfilling lifestyle.

    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
    Lenoir
    County
    Caldwell
    State
    North Carolina
    Longitude
    -81.6108285
    Latitude
    35.8421689

    Comparable in this City

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      Lenoir Land with Mountain Views

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    • $309,000
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      Equestrian Parcel in Gated Community

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    Similar Nearby for Sale

    • $159,900
      2.81 Acres

      Lenoir Mini-Farm Land Available

      2.81 acre mini-farm in The Coves Mountain River Club.
      4098 Derbyshire Ln, Lenoir, NC 28645
      View Details
    • $215,000
      13.61 Acres

      Lenoir Land with Mountain Views

      13.613 acres with mountain views and barn.
      2258 Sweet Maple Pl, Lenoir, NC 28645
      View Details
    • New
      $989,000
      80.68 Acres

      Lenoir Land with Creek & Barn

      81-acre property with creek, cabin, and large barn.
      81 Roby Martin Rd, Lenoir, NC 28645
      View Details
    • New
      $349,999
      10.29 Acres

      Lenoir Land with Mountain Views

      10.29 acre homesite with mountain views and community amenities.
      Box Turtle Run, Lenoir, NC 28645
      View Details
    • $149,900
      6.09 Acres

      Land Near Mountain River Club

      6+ acres near amenities in Lenoir, North Carolina.
      136/137 Johns Ridge Pkwy, Lenoir, NC 28645
      View Details
    • $309,000
      12.49 Acres

      Equestrian Parcel in Gated Community

      12.49-acre equestrian parcel in gated community with riding trails.
      2093 Thoroughbred Way, Lenoir, NC 28645
      View Details

    Similar Nearby for Lease

    • Contact for pricing

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    • $4,494 /Mo

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      Lenoir Retail Space For Rent

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      Former Restaurant Space For Lease

      Former restaurant in Lenoir, NC, available for lease.
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      Lenoir Warehouse/Distribution Space Available

      Up to 492,000 SF warehousing/distribution space for lease.
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    Lenoir, NC 28645
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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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    4338 Calico Rd, Lenoir, NC, 28645
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