Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Industrial Land Near Highway 74 Title is generated by Realmo AI

    2842 Gray Fox Road, Indian Trail, NC 28079

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $800,000

    6.63-acre light industrial parcel with cleared area and highway access.

    Type:Land or Vacant Lot
    Added:
    Jun 25, 2025
    Days on Market:
    332
    Last Refresh:
    Apr 5 at 8:37 pm

    Property Features for 2842 Gray Fox Road

    General Information

    Standard status
    Active
    Property subtype
    Land or Vacant Lot

    We can help!

    Listing Contact
    OLGA KICHIGINA

    Listing agent OLGA KICHIGINA

    Listing office HOME TEAM PROS

    Listing date Jun 25, 2025

    Source Corcoran

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

    All listing content including descriptions, pricing, images are the copyrighted material of HOME TEAM PROS

    HighLights

    • Excellent access to Highway 74 and the Monroe Bypass in a high‑growth area.
    • 6.63‑acre Light Industrial (L‑I) parcel suitable for development.
    • Approximately 2 acres already cleared, reducing development time and costs.
    • Level topography and paved public road frontage on Gray Fox Road.
    • Professionally prepared architectural plans and approved zoning site plan potentially available.
    • Rare opportunity to secure a development‑ready site in an active industrial zone.

    Overview

    This 6.63-acre Light Industrial (L-I) parcel is strategically located near Highway 74 and the Monroe Bypass, offering excellent access in a high-growth Union County corridor. Approximately 2 acres are already cleared. The site features level topography and paved public road frontage on Gray Fox Road. A recorded perpetual easement for a communications tower is in place. A portion of the property lies in FEMA Flood Zone AE. Professionally prepared architectural plans and a recently approved zoning site plan may be made available to qualified buyers with a strong or full-price offer.
    Location Intelligence

    Current Use by Public Records

    Industrial land

    Map

    City
    Indian Trail
    County
    Union
    State
    North Carolina
    Longitude
    -80.6145
    Latitude
    35.0963

    Nearby Similar for Sale

    • $799,000

      Indian Trail Commercial Opportunity

      0.76-acre lot in front of Food Lion.
      4324 Old Monroe Road, Indian Trail, NC 28079
      View Details
    • $315,000

      Corner Lot in Indian Trail

      2.1 acre corner lot near shops and major highways.
      Faith Church Road, Indian Trail, NC 28079
      View Details
    • $150,000

      Land in Booming Indian Trail

      Land with 2-bedroom septic and county water in place.
      2416 Younts Road, Indian Trail, NC 28079
      View Details
    • $150,000

      Spacious Land in Frontier Circle

      2.02 acres in Indian Trail, build your dream home.
      01 Frontier Circle, Indian Trail, NC 28079
      View Details
    • $899,999

      Expansive Land Parcel in Indian Trail

      Nearly 18 acres of flat, usable land in Indian Trail.
      8008 W Duncan Road, Indian Trail, NC 28079
      View Details
    • $74,950

      Residential Lot in Rosemary Park

      Residential lot in Indian Trail near shopping and dining.
      Rose Drive, Indian Trail, NC 28079
      View Details
    • $350,000

      Land in Anniston Grove

      Buildable lot in desirable Anniston Grove community.
      1412 Tarrington Way, Indian Trail, NC 28079
      View Details
    • $74,950

      Residential Lot in Rosemary Park

      Residential lot in Indian Trail near shopping and dining.
      Rose Drive, Indian Trail, NC 28079
      View Details
    • $120,000

      Indian Trail Land For Sale

      1.07-acre lot in Indian Trail, ready for your dream home.
      2127 Cull Williams Lane, Indian Trail, NC 28079
      View Details
    • $80,000

      Ideal Homesite in Indian Trail

      A 0.24-acre lot in a desirable, convenient location.
      2510 Younts Road, Indian Trail, NC 28079
      View Details
    • $1,200,000

      Prime Commercial Land Opportunity

      Expansive commercial land in a high-growth area with excellent accessibility.
      00 Gribble Road, Indian Trail, NC 28079
      View Details
    • $101,000

      Cleared Corner Lot in Indian

      Prime Indian Trail lot with no HOA and great access.
      Picketts Circle, Indian Trail, NC 29079
      View Details

    FAQs

    What type of property is this?
    Industrial land - 6.63-acre light industrial parcel with cleared area and highway access.
    Where is this industrial land located?
    The property is located at 2842 Gray Fox Road Indian Trail, NC.
    What is the asking price?
    The asking price for this property is $800,000.
    What are key features of this property?
    This property features: Excellent access to Highway 74 and the Monroe Bypass in a high‑growth area.; 6.63‑acre Light Industrial (L‑I) parcel suitable for development.; Approximately 2 acres already cleared, reducing development time and costs.
    (704) 858-1077
    We can help!
    Listing Contact
    OLGA KICHIGINA
    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
    2842 Gray Fox Road, Indian Trail, NC 28079
    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!