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    The Largest CRE Database in the US with Over 1 Million Listings

    205 Airport Rd Monroe, NC 28110

    Sponsored
    For Sale
    $699,500

    LAND - Monroe, NC

    Lot size:
    6.36 Acres
    Days on Market:
    10
    Last Refresh:
    Jan 21 at 10:06 pm

    Property Features for 205 Airport Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    AL9
    APN
    06-003-011-B
    Exterior features
    Fence, Storage
    Fencing
    Fenced
    Lot size
    6.36 Acres

    Utilities

    Water source
    Well

    Building Details

    Additional Structures
    Storage

    We can help!

    Listing Contact
    Abby Nelson

    ProStead Realty (704) 333-8905 [email protected]

    Listing agent Abby Nelson (704) 890-1860

    Listing date Jan 12, 2026

    MLS# 4319787 Listing URL

    Copyright © 2026 Canopy MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Equestrian Property in Wesley Chapel

    This property features an all-brick ranch home situated on 6.3+ acres in Wesley Chapel, North Carolina. The land is equipped for horses, featuring three fenced paddocks with no-climb wire fencing and one dry lot. Mature trees provide shade in two of the paddocks. A large run-in shed is present, which could be converted into a shed-row barn. There is also a hay barn with capacity for up to 100 square bales, along with a large storage shed suitable for equipment or tack. The home includes an open, eat-in kitchen that flows into a family room with a wood-burning fireplace. The property is set back from the road, offering privacy, and includes a rear stub-out on Laurel Glen, allowing for the potential construction of a new driveway. The existing home could provide passive rental income while a new home is built. The property is connected to city water, and a well is available for the horse pastures. The zoning is AL9.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Horse & equestrian properties

    Suggested Use

    Realty agency Spa & Massage Auto Repair Shop Clothing Store Skin Care Clinic HVAC Service Pawn Shop Tech Support Center Shopping Mall Travel Agency

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Monroe
    County
    Union
    State
    North Carolina
    Longitude
    -80.653099
    Latitude
    35.008386

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    FAQs

    What type of property is this?
    Horse & equestrian property - 6.3+ acre horse property with ranch home near shopping.
    Where is this horse & equestrian property located?
    The property is located at 205 Airport Rd Monroe, NC.
    What is the asking price?
    The asking price for this property is $699,500.
    What are key features of this property?
    This property features: - 6.3+ acre horse property with fenced paddocks, run-in shed (convertible to barn), hay barn, and equipment shed.; - All-brick ranch home offering potential passive rental income.; - Prime Wesley Chapel location, minutes from grocery, dining, and shopping.
    (704) 890-1860
    Request Owner's contact information
    205 Airport Rd Monroe, NC 28110
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    Monroe, NC 28110
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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
    205 Airport Rd Monroe, NC 28110
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    We can help!
    Listing Contact
    Abby Nelson
    Real Estate License ID: 258811
    (704) 890-1860
    Learn more
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