Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    235 Madison Road China Grove, NC 28023

    View on Map
    Claim this Listing
    For Sale
    $36,000

    LAND - China Grove, NC

    Lot size:
    0.75 Acres
    Added:
    Jul 23, 2025
    Days on Market:
    283
    Last Refresh:
    May 1 at 5:06 pm

    Property Features for 235 Madison Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    RMH
    Vegetation
    Wooded
    Standard status
    Active
    APN
    117 177
    Lot size
    0.75 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    .75AC

    Utilities

    Sewer type
    Septic Needed
    Water source
    Well Needed

    We can help!

    Listing Contact
    Reynolds Mcfarlane

    Listing agent Reynolds Mcfarlane License #341519

    Listing office Carolina Land Experts 509 W North st, Raleigh, NC

    Listing date Jul 23, 2025

    MLS# 10111009 Listing URL

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

    Overview

    Residential Land in China Grove

    Located at 235 Madison Road in China Grove, Rowan County, this 0.75-acre parcel is zoned for Manufactured Home District (R-MH). The property is suitable for residential use, including manufactured housing, subject to local development standards. The lot features an irregular shape and a generally level topography above street grade. Access is available via Madison Road. The property is unimproved and will require well and septic. Situated in a mixed-use area with nearby residential, industrial, and commercial properties, the site offers proximity to NC-152, NC-29, and I-85, providing regional access. The property is identified as GIS# 117 177 and NCDOT# 203777. Note that the lot size is not guaranteed and should be verified independently. Title will be transferred via QuitClaim Deed, and NCDOT reserves the right to cancel the sale at any time prior to the deed being recorded. This property is part of an online auction, and buyers should be prepared for the bidding process. A non-refundable Buyer Premium Payment is due in addition to the purchase price. The buyer is responsible for all due diligence.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    China Grove
    County
    Rowan
    State
    North Carolina
    Longitude
    -80.564475
    Latitude
    35.575243

    Nearby Similar for Sale

    • $700,000

      China Grove Land Opportunity

      10+ acre tract near I-85 with development potential.
      Bud Lane, China Grove, NC 28023
      View Details
    • $249,500

      6.25 Acres Wooded Land

      6.25-acre wooded property near I-85, ideal for commuters.
      Ketchie Estate Road, China Grove, NC 28023
      View Details
    • $319,000

      3-Acre Land with Structures

      Cleared, level land with house and garages in China Grove.
      2865 Lentz Road, China Grove, NC 28023
      View Details
    • $45,000

      Residential Lot in China Grove

      0.69-acre building lot with convenient access to amenities.
      Power Street, China Grove, NC 28023
      View Details
    • $79,900

      China Grove Land with Income

      1.78 acre lot with billboard income in China Grove.
      N Main Street, China Grove, NC 28023
      View Details
    • $169,000

      Residential Lot in Wellington Estates

      Cleared 0.95-acre lot ready for a custom home.
      1103 Hastings Court, China Grove, NC 28023
      View Details
    • $20,000

      Highway-Accessible Land in China Grove

      0.28-acre parcel near I-85, suitable for residential or commercial use.
      220 Yost Town Road, China Grove, NC 28023
      View Details
    • $650,000

      Restaurant and Ice Cream Shop

      Established restaurant and ice cream shop across from middle school.
      1008 N Main Street, China Grove, NC 28023
      View Details
    • $5,000,000

      Commercial Land Near I-85

      8.97 acres near I-85 and Exit 65 interchange.
      1315 China Grove Road, China Grove, NC 28023
      View Details
    • $219,000

      Undeveloped Land in China Grove

      8.17 acres of RA-zoned land near I-85 corridor.
      State Road, China Grove, NC 28023
      View Details
    • $1,200,000

      Versatile Rowan County Land Tract

      35+ acres in China Grove, NC, suitable for development.
      Meadow Lane, China Grove, NC 28023
      View Details
    • $80,000

      Commercial Land Near Food Lion

      0.91-acre commercial parcel with high visibility and utility access.
      1400 Nc-152, China Grove, NC 28023
      View Details

    FAQs

    What type of property is this?
    Land - 0.75-acre lot suitable for residential use in Rowan County.
    Where is this land located?
    The property is located at 235 Madison Road China Grove, NC.
    What is the asking price?
    The asking price for this property is $36,000.
    What are key features of this property?
    This property features: Large 0.75‑acre lot zoned R‑MH, SUITABLE FOR MANUFACTURED HOUSING.; Convenient access to NC‑152, NC‑29, and I‑85, PROVIDING REGIONAL ACCESS.; Located in a mixed‑use area near residential, industrial, and commercial properties.
    (919) 275-5868
    We can help!
    Listing Contact
    Reynolds Mcfarlane
    Real Estate License ID: 341519
    Learn More
    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.
    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

    235 Madison Road, China Grove, NC 28023

    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!