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

    221 Cullen Lane Statesville, NC 28625

    View on Map
    Claim this Listing
    For Sale
    $285,000

    LAND - Statesville, NC

    Lot size:
    11.66 Acres
    Added:
    Apr 8, 2026
    Days on Market:
    24
    Last Refresh:
    May 1 at 11:06 am

    Property Features for 221 Cullen Lane

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    RA
    Standard status
    Active
    APN
    4704-01-9077.000
    Lot size
    11.66 Acres

    Taxes and HOA fees

    Tax Description
    SR 1006 OFF

    Utilities

    Water source
    Well

    We can help!

    Listing Contact
    Erika McNew
    Erika McNew

    Listing agent Erika McNew License #285391

    Listing office The Virtual Realty Group 15105 John J Delaney Dr Ste 135, Charlotte, NC

    Listing date Apr 8, 2026

    MLS# 4365670 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.

    Overview

    Spacious Land with Concrete Building

    Located in Statesville, NC, this property offers 11.655 acres of land, presenting an opportunity for a lifestyle defined by space and freedom. The property includes a mobile home and a 40x60 concrete block building. The land offers peaceful surroundings and the opportunity to build a custom home or personal retreat. The acreage provides space for gardens, animals, and outdoor entertaining. There is flexibility to design a life that fits you. The property is located a short drive from downtown Statesville, major highways, and everyday amenities, offering both seclusion and access. This property allows you to build something meaningful, offering a place where life can slow down and expand.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Law Firm Auto Repair Shop Bakery Clothing & Fashion Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Statesville
    County
    Iredell
    State
    North Carolina
    Longitude
    -81.020001
    Latitude
    35.769617

    Nearby Similar for Sale

    • $450,000

      Versatile Commercial Property with Income Potential

      Commercial property with multi-parcel opportunity, tenant in place through May 2026.
      2504 Newton Drive, Statesville, NC 28677
      View Details
    • $310,000

      Statesville Commercial Property For Sale

      Established 1,522 sq.ft. commercial property in Statesville, North Carolina.
      1512 Davie Avenue, Statesville, NC 28677
      View Details
    • $495,000

      Statesville Residential Portfolio For Sale

      Updated, fully leased single-family residential portfolio in Statesville, North Carolina.
      112 Robinette Lane, Statesville, NC 28677
      View Details
    • $450,000

      Statesville Land Investment Opportunity

      1.45-acre property near shopping, dining, and interstate access.
      1611 Old Wilkesboro Road, Statesville, NC 28625
      View Details
    • $224,900

      Highway-Business Corner Lot

      Prime corner lot in emerging growth corridor with high visibility.
      Scroggs Cemetery Road, Statesville, NC 28677
      View Details
    • $489,000

      Waterfront Lot in Gated Community

      0.64-acre waterfront lot with dock and seawall on Lake Norman.
      163 High Lake Drive, Statesville, NC 28677
      View Details
    • $200,000

      Statesville Office/Land Opportunity

      Versatile property with commercial zoning in a high-growth area.
      1225 Davie Avenue, Statesville, NC 28677
      View Details
    • $470,000

      New Duplex in Statesville, NC

      New construction duplex with income potential near downtown Statesville.
      533 Broadway Court, Statesville, NC 28677
      View Details
    • $349,000

      Statesville Commercial Land For Sale

      1.86 acre commercial lot in rapidly developing area.
      203 Island Ford Road, Statesville, NC 28625
      View Details
    • $949,986

      Statesville Land with Development Potential

      52+ acres near I-40, ideal for farm or homestead.
      Garden Valley Road, Statesville, NC 28625
      View Details
    • $300,000

      Commercial Land in Statesville, NC

      Half-acre lot suitable for future commercial development in Statesville.
      359 Turnersburg Hwy, Statesville, NC 28677
      View Details
    • $39,900

      Statesville City Building Lot

      City building lot with water and sewer access in Statesville.
      523 Crowell Avenue, Statesville, NC 28677
      View Details

    FAQs

    What type of property is this?
    Land - 11.655 acres in Statesville with a 40x60 building.
    Where is this land located?
    The property is located at 221 Cullen Lane Statesville, NC.
    What is the asking price?
    The asking price for this property is $285,000.
    What are key features of this property?
    This property features: Large 11.655‑acre property offering space and freedom.; Includes a **40x60 concrete block building**.; No HOA, providing flexibility in property use and design.
    (704) 606-3550
    We can help!
    Listing Contact
    Erika McNew
    Erika McNew
    Real Estate License ID: 285391
    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

    221 Cullen Lane, Statesville, NC 28625

    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!