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

    619 Connelly Springs Rd SW Lenoir, NC 28645

    View on Map
    Loading data...
    Loading data...
    Loading data...
    Pending
    $575,000

    21-acre industrial land with utilities near major highways.

    Property Features for 619 Connelly Springs Rd SW

    General Information

    Standard status
    Pending

    Building Details

    Year built
    1907

    We can help!

    Listing Contact
    Denise Howard
    Denise Howard
    Source: Exitrealty

    Listing Agency: DH One Properties, LLC Listing Agent: Denise Howard

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

    Learn more

    Overview

    21 Acre Industrial Land Parcel

    This 21-acre site, zoned for heavy industrial use, is situated between Hibriten Drive and Connelly Springs Road. It is located less than one mile from both US Highway 321 and Southwest Boulevard. Available utilities include natural gas, city water and sewer, and electricity. An Environmental Phase I assessment, conducted through the City of Lenoir Brownfield Grant, indicated a clean site. The property's location and zoning allow for multiple uses.
    Location Intelligence

    Current Use by Public Records

    Accident Injury Attorneys ... Law Firm

    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
    Lenoir
    County
    Caldwell
    State
    North Carolina
    Longitude
    -81.5318179
    Latitude
    35.8849022

    Nearby Similar for Sale

    • $300,000
      0.14 Acres

      Historic Commercial Building in Lenoir

      Downtown Lenoir commercial building with limitless potential and historic charm.
      901 Ashe Ave NW, Lenoir, NC 28645
      View Details
    • $500,000
      0.29 Acres

      Lenoir Office Building For Sale

      Prime office building in Lenoir's thriving business district.
      420 Harper Ave NW, Lenoir, NC 28645
      View Details
    • New
      $1,600,000
      2.00 Acres

      Lenoir Multifamily Investment Opportunity

      16-unit multifamily property in Lenoir, NC with cash flow.
      3354 Clay Apartments Ct, Lenoir, NC 28645
      View Details
    • New
      $350,000
      0.38 Acres

      Lenoir Triplex with Immediate Income

      Well-maintained triplex in Lenoir, NC with strong rental income.
      711 Meredith Ct SW, Lenoir, NC 28645
      View Details
    • $320,000
      0.25 Acres

      Lenoir Multifamily Income Property

      Income-producing four-unit property with recent updates and flexible leases.
      1101 College Ave SW, Lenoir, NC 28645
      View Details
    • $589,900

      Charming Turn of the Century Building

      Turn of the century building with restaurant and entertainment areas.
      819 West Ave NW, Lenoir, NC 28645
      View Details
    • $250,000
      0.50 Acres

      Lenoir Duplex with Rental Income

      Well-kept duplex in Lenoir, NC, with two rented units.
      4823 Calico Rd, Lenoir, NC 28645
      View Details
    • $349,900
      2,674 SF

      Downtown Lenoir Commercial Building

      Professionally renovated office building in the heart of downtown Lenoir.
      101 Willow St NW, Lenoir, NC 28645
      View Details
    • $464,900
      Pending

      Commercial Building on Morganton Boulevard

      Commercial building with multiple units and income-generating billboard.
      2301 Morganton Blvd, Lenoir, NC 28645
      View Details
    • $429,900
      3,380 SF

      Historic Neoclassical Property For Sale

      Versatile property in historic district, ideal for business or residence.
      1010 College Ave SW, Lenoir, NC 28645
      View Details
    • Contact for pricing

      Historic Office Building Near Hospital

      Refurbished 2620 SF office building with historic charm.
      508 Mulberry St SW, Lenoir, NC 28645
      View Details
    • Contact for pricing

      Fully Leased Strip Mall Investment

      Stabilized 5-unit strip mall near Lenoir and Wilkesboro, North Carolina.
      912 Wilkesboro Blvd, Lenoir, NC 28645
      View Details

    FAQs

    What type of property is this?
    Industrial land - 21-acre industrial land with utilities near major highways.
    Where is this industrial land located?
    The property is located at 619 Connelly Springs Rd SW Lenoir, NC.
    What is the asking price?
    The asking price for this property is $575,000.
    What are key features of this property?
    This property features: - 21 acre site zoned for heavy industrial use; - Located less than 1 mile from US Hwy 321; - Located less than 1 mile from Southwest Blvd
    (704) 880-6819
    Request Owner's contact information
    619 Connelly Springs Rd SW Lenoir, NC 28645
    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.
    619 Connelly Springs Rd SW
    Lenoir, NC 28645
    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
    619 Connelly Springs Rd SW Lenoir, NC 28645
    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
    Denise Howard
    Denise Howard
    Real Estate License ID: 262903
    (704) 880-6819 (828) 728-5037
    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!