Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    22.34 Acres Development Opportunity Title is generated by Realmo AI

    6012 Watermelon Drive, Wendell, NC 27591

    View on Map
    Claim this Listing
    For Sale
    $2,000,000

    22.34-acre development opportunity bordering WakeMed Wendell and Wendell Falls.

    Type:Land / Unimproved Land
    Lot size:
    22.34 Acres
    Added:
    May 2, 2025
    Days on Market:
    396
    Last Refresh:
    Mar 13 at 10:03 am

    Property Features for 6012 Watermelon Drive

    General Information

    Standard status
    Active
    Lot size
    22.34 Acres
    Property subtype
    Land / Unimproved Land

    We can help!

    Listing Contact
    Amir Akeem Hunter
    Amir Akeem Hunter

    Listing agent Amir Akeem Hunter License #332796

    Listing office eXp Realty, LLC - C

    Listing date May 2, 2025

    Source Compass

    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 eXp Realty, LLC - C

    HighLights

    • 22.34‑acre development opportunity bordering WakeMed Wendell and Wendell Falls.
    • Designated for Commercial Employment Zoning upon annexation into the Town of Wendell.
    • Located in a rapidly growing corridor near WakeMed Wendell and Wendell Falls.
    • Access provided by a 60' private road easement through Wendell Falls.
    • Future connectivity to Kaleidoscope Lane through Wendell Falls Phase 10A.
    • Manufactured home with existing septic, well, and electricity conveys with the sale.

    Overview

    This 22.34-acre property presents an excellent development opportunity, bordering WakeMed Wendell and Wendell Falls Phase 10A. Situated within Wake County ETJ, the property is currently zoned Residential Agriculture. According to the Future Land Use Map, it is designated for Commercial Employment Zoning upon annexation into the Town of Wendell. Developers should note that if annexed, the Town of Wendell mandates the property to be developed primarily for commercial use, not residential. Access is provided by a 60' private road easement through Wendell Falls via Poinsettia Lane, with future connectivity to Kaleidoscope Lane through Phase 10A. A manufactured home with existing septic, well, and electricity conveys with the sale. This property offers excellent investment potential in a rapidly growing corridor near WakeMed Wendell and Wendell Falls, with the possibility of additional connected acreage available. Interested parties are encouraged to inquire with the Town of Wendell Planning Department or Listing Agent for further details.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Department Store Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Wendell
    County
    Wake
    State
    North Carolina
    Longitude
    -78.4314629
    Latitude
    35.7815962

    Nearby Similar for Sale

    • $895,000
      3,632 SF

      Downtown Wendell Mixed-Use Investment

      Unique mixed-use property in downtown Wendell with income potential.
      242 W Academy Street, Wendell, NC 27591
      View Details
    • $649,000

      Wendell, NC Development Opportunity

      5.91-acre parcel near Wendell Falls, ideal for development.
      6304 Petunia Lane, Wendell, NC 27591
      View Details
    • $130,000

      Wendell Land Parcel For Sale

      2.72 acre parcel in Wendell, North Carolina.
      6905 Buck Road, Wendell, NC 27591
      View Details
    • $995,000
      5,500 SF

      Historic Mixed-Use Building in Wendell

      Charming mixed-use building in Wendell's Historic District, ready for retail.
      31 N Main Street, Wendell, NC 27591
      View Details
    • $2,000,000

      Wendell, NC Development Opportunity

      22.32-acre development opportunity near WakeMed Wendell and Wendell Falls.
      6012 Watermelon Drive, Wendell, NC 27591
      View Details
    • $659,000

      Wendell Land Ready For Development

      11.56 acres of land ready for equestrian or agricultural development.
      9637 Earpsboro Chamblee Road, Wendell, NC 27591
      View Details
    • $3,000,000

      Wendell Land Development Opportunity

      24.15 acres of land in rapidly expanding Wendell submarket.
      Martin Pond Road, Wendell, NC 27591
      View Details
    • $110,000

      Wendell, NC Vacant Lot

      Vacant lot in a charming, fast-growing Wendell location.
      315 Cook Street, Wendell, NC 27591
      View Details
    • $895,000
      3,600 SF

      Downtown Wendell Income-Producing Commercial Property

      Two renovated buildings with income potential in downtown Wendell.
      242 W Academy St, Wendell, NC 27591
      View Details
    • $3,995,000

      Wendell Land For Sale

      14.17 acre corner lot in growing Wendell area.
      1205 Wendell Falls Parkway, Wendell, NC 27591
      View Details
    • $249,900

      Wendell Wooded Lot For Sale

      3.94-acre wooded lot near Wendell Falls and downtown Wendell.
      1210 Lake Wendell Road, Wendell, NC 27591
      View Details
    • $1,040,000

      Wendell, NC Land Opportunity

      13-acre parcel in a rapidly growing area.
      1127 Edgemont Road, Wendell, NC 27591
      View Details

    FAQs

    What type of property is this?
    Commercial land - 22.34-acre development opportunity bordering WakeMed Wendell and Wendell Falls.
    Where is this commercial land located?
    The property is located at 6012 Watermelon Drive Wendell, NC.
    What is the asking price?
    The asking price for this property is $2,000,000.
    What are key features of this property?
    This property features: 22.34‑acre development opportunity bordering WakeMed Wendell and Wendell Falls.; Designated for Commercial Employment Zoning upon annexation into the Town of Wendell.; Located in a rapidly growing corridor near WakeMed Wendell and Wendell Falls.
    (984) 298-3807
    We can help!
    Listing Contact
    Amir Akeem Hunter
    Amir Akeem Hunter
    Real Estate License ID: 332796
    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
    6012 Watermelon Drive, Wendell, NC 27591
    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!