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

    11138 Cleveland Rd Garner, NC 27529

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    1.429-acre commercial lot with partially finished home.

    Lot size:
    1.43 Acres

    Property Features for 11138 Cleveland Rd

    General Information

    Standard status
    Active
    Lot size
    1.43 Acres

    We can help!

    Listing Contact
    L. Calvin Ramsey
    Source: Corcoran

    Listing Agency: RAMSEY REALTORS TEAM INC Listing Agent: L. Calvin Ramsey

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Garner Commercial Land Opportunity

    This 1.429-acre commercial parcel is located in a high-visibility area of Garner, NC. The property includes a partially finished house that has been gutted, offering a flexible foundation for residential conversion, office space, or redevelopment. Situated along Cleveland Road, in one of Johnston County's rapidly growing corridors, the property benefits from strong traffic counts and easy access to I-40, I-540, and Highway 42. It is also located near Raleigh, Clayton, and Garner business hubs. The location is centrally located near retail, restaurants, and new development. The zoning allows for a variety of potential uses, from small business operations and office or retail development to mixed-use possibilities. Water and electricity are available. Nearby commercial development is continuing to expand, positioning this site for future growth and investment. It is ideal for creating an office, small business, or mixed-use concept.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Garner
    County
    Wake
    State
    North Carolina
    Longitude
    -78.554753
    Latitude
    35.587709

    Nearby Similar for Sale

    • New
      $1,200,000
      5,868 SF

      Commercial Building in Developing Area

      Commercial building in a rapidly developing area, visible from I-40.
      143 Technology Dr, Garner, NC 27529
      View Details
    • New
      $1,900,000
      9,479 SF

      Office/Retail Condo in Prime Location

      Office/retail condo in a rapidly developing, highly visible area.
      141 Technology Dr, Garner, NC 27529
      View Details
    • New
      $800,000
      4,624 SF

      Garner Multifamily Investment Opportunity

      Five-unit property with income potential in a growing area.
      613 Bellhaven St, Garner, NC 27529
      View Details
    • Contact for pricing
      26,000 SF

      New Class A Flex Space

      26,000 SF Class A Flex space in Greenfield Business Park.
      3201 Waterfield Dr, Garner, NC 27529
      View Details
    • Contact for pricing
      38 SF

      Small Suites Available For Sale

      Office suites for sale, various sizes available.
      12450 Cleveland Rd, Garner, NC 27529
      View Details
    • Contact for pricing
      236,600 SF

      New Industrial Warehouse in Garner

      236,600 SF warehouse with Q1 2026 delivery date.
      4520 Guy Rd, Garner, NC 27529
      View Details
    • Contact for pricing
      128,003 SF

      New Industrial Space in Garner

      Newly constructed industrial buildings with flexible spaces for sale.
      2545-2585 Hwy, Garner, NC 27520
      View Details
    • Contact for pricing
      9,479 SF

      Office/Retail Condo in Developing Area

      Office/retail condo in rapidly developing area near I-40.
      141 Technology Dr, Garner, NC 27529
      View Details
    • Contact for pricing
      5,868 SF

      Commercial Building in Developing Area

      Commercial building in a rapidly developing area available for purchase.
      143 Technology Dr, Garner, NC 27529
      View Details
    • $750,000
      3.05 Acres

      Garner, NC: 3 Acre Development Land

      Prime Garner location, high-growth potential, retail zoning.
      Benson Rd, Garner, NC 27529
      View Details
    • $1,500,000
      6,000 SF

      Garner Flex Building: Prime Location

      6,000 SF Flex Space, $1.5M
      540 Dynamic Dr, Garner, NC 27529
      View Details
    • $1,600,000
      2.80 Acres

      High-Traffic Garner Commercial Land

      Prime 2.8-Acre US 70 Location
      Us 70 Hwy, Garner, NC 27529
      View Details

    FAQs

    What type of property is this?
    Commercial land - 1.429-acre commercial lot with partially finished home.
    Where is this commercial land located?
    The property is located at 11138 Cleveland Rd Garner, NC.
    What are key features of this property?
    This property features: - 1.429-acre commercial lot in a high-growth area of Garner/Johnston County, NC.; - Flexible zoning allows for a variety of uses: small business, office, retail, or mixed-use.; - Excellent access to I-40, I-540, and Hwy 42, facilitating regional connectivity.
    (919) 427-4328
    Request Owner's contact information
    11138 Cleveland Rd Garner, NC 27529
    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.
    11138 Cleveland Rd
    Garner, NC 27529
    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
    11138 Cleveland Rd Garner, NC 27529
    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

    We can help!
    Listing Contact
    L. Calvin Ramsey
    (919) 427-4328
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!