Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search

    1923 Old Charlotte Hwy Monroe, NC 28110

    Sponsored
    For Lease
    Contact for pricing

    ±2.21 Acres Commercial Land, Ground Lease Available

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    403
    This ±2.21-acre commercial land parcel presents a unique ground lease opportunity in Monroe, North Carolina. Strategically situated on Old Charlotte Highway, this property offers exceptional accessibility and visibility. Its prime location provides convenient access to Highway 74, a major thoroughfare, situated just one mile away, ensuring seamless connectivity for businesses and their clientele. Furthermore, the property's proximity to Downtown Monroe, a mere two miles distant, allows for easy access to the area's amenities and vibrant community. The land is designated for commercial use and is available for a single tenant, making it ideal for businesses seeking a prominent location with ample space for development. This presents a compelling investment opportunity for businesses looking to establish a strong presence in a thriving area with excellent transportation links and proximity to a bustling downtown core. The property's size and location make it suitable for a variety of commercial ventures, offering significant potential for growth and return on investment. The ground lease structure provides flexibility and potentially lower upfront capital requirements. Serious inquiries are encouraged to explore this exceptional commercial land opportunity. The property is located in Union County.

    Property Features for 1923 Old Charlotte Hwy

    General Information

    Property type
    Land
    Lease Type
    Gross Lease

    Unit(s) available at that property

    Space
    Size
    0 SF

    We can help!

    Listing Contact
    George Karres
    George Karres

    Learn more

    Property Insight Report

    HighLights

    • +/- 2.21 acres of commercially zoned land available for ground lease.
    • Located in Monroe, NC on Old Charlotte Highway.
    • Conveniently situated one mile from Highway 74 and two miles from Downtown Monroe.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Monroe
    County
    Union
    State
    North Carolina
    Longitude
    -80.570626
    Latitude
    35.001285

    Nearby Similar for Lease

    • $10,600 /Mo
      66,647 SF

      Retail Space in High-Traffic Area

      10,400 SF retail space in Monroe, NC for lease.
      2520 W Roosevelt Blvd, Monroe, NC 28110
      View Details
    • $15 SF/Yr
      16,117 SF

      Prime Medical Office Space Available

      Conveniently located medical office space near the hospital in Monroe.
      412 S Sutherland Ave, Monroe, NC 28112
      View Details
    • $6,250 /Mo
      22,651 SF

      Monroe Warehouse Space For Lease

      5000 sqft warehouse with office space for lease.
      1909 W Roosevelt Blvd, Monroe, NC 28110
      View Details
    • Contact for pricing

      Regional Mall in Monroe, NC

      395,000 square foot regional mall in suburban Charlotte, NC.
      2115 W Roosevelt Blvd, Monroe, NC 28110
      View Details
    • $19 SF/Yr
      4,328 SF

      Medical Office Space Near Atrium

      Office/medical suite in Monroe, NC, near Atrium Health Union.
      1640 Campus Park Dr, Monroe, NC 28112
      View Details
    • Contact for pricing
      1,500 SF

      Prime Monroe Retail Space

      1,500 SF Retail, Multiple Units Available
      2800 Roosevelt Blvd, Monroe, NC 28110
      View Details
    • Contact for pricing
      9,684 SF

      Hanfield Village Retail Spaces

      Publix-anchored center, Indian Trail, NC
      5132 Old Charlotte Hwy, Monroe, NC 28110
      View Details
    • Contact for pricing
      3,176 SF

      Roosevelt Blvd Retail Sublease Opportunity

      Prime QSR space with drive-thru. Sublease available.
      1302 Roosevelt Blvd, Monroe, NC 28110
      View Details
    • Contact for pricing
      23,500 SF

      Monroe Industrial Complex for Lease

      23,500 SF industrial complex on 7.07 acres for lease.
      4519 Old Charlotte Hwy, Monroe, NC 28110
      View Details
    • $12 SF/Yr
      4,500 SF

      Versatile Industrial/Flex Unit for Lease

      4,500 SF industrial/flex unit with offices and roll-up door.
      202 Pedro St, Monroe, NC 28110
      View Details
    • $25 SF/Yr
      1,290 SF

      Prime Retail/Office Space Available

      1,290 SF end-cap suite near Monroe Crossing Mall.
      2160 Commerce Dr, Monroe, NC 28110
      View Details
    • Contact for pricing

      Retail Space in Monroe, NC

      Retail property for rent in high-traffic Monroe corridor.
      Monroe, NC 28110
      View Details

    FAQs

    What type of property is this?
    Land - ±2.21 Acres Commercial Land, Ground Lease Available
    Where is this land located?
    The property is located at 1923 Old Charlotte Hwy Monroe, NC.
    What are key features of this property?
    This property features: +/- 2.21 acres of commercially zoned land available for ground lease.; Located in Monroe, NC on Old Charlotte Highway.; Conveniently situated one mile from Highway 74 and two miles from Downtown Monroe.
    Request Owner's contact information
    1923 Old Charlotte Hwy Monroe, NC 28110
    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.
    1923 Old Charlotte Hwy
    Monroe, NC 28110
    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
    1923 Old Charlotte Hwy Monroe, NC 28110
    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
    George Karres
    George Karres
    Real Estate License ID: NC 197255
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.