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    Wallace Rd Midland, NC 28107

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    For Sale
    Contact for pricing

    ±34.65 acres Commercial/Industrial Land

    Property Features for 0 Wallace Rd

    General Information

    Property type
    Land
    Lot Size
    1,509,398 SF

    We can help!

    Listing Contact
    Scott Hensley, Ccim, Sior
    Scott Hensley, Ccim, Sior

    Listing Agency: Piedmont Properties Listing Agent: Scott Hensley, Ccim, Sior

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

    Learn more

    Overview

    This exceptional ±34.651-acre commercial and industrial land parcel is ideally situated in Midland, North Carolina, at the intersection of Hwy 601 and Wallace Rd (zip code 28107). The property boasts significant frontage: approximately 685 feet on Wallace Rd and approximately 11,640 feet on Hwy 601. It's zoned GI in Cabarrus County and features readily available water access from both Wallace Rd and Hwy 601, along with on-site sewer. A key advantage is its rail service via the Aberdeen Carolina & Western Railway, offering dual access to NS and CSX rail lines. Parcel ID numbers are 55448044240000 and 55448132260000. An additional ±9.41 acres is also available for purchase, presenting a unique opportunity to expand your investment. This prime location offers unparalleled access and connectivity, making it perfect for a variety of commercial and industrial uses. The asking price for this significant land holding is $2,945,560.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Midland
    County
    Cabarrus
    State
    North Carolina
    Longitude
    -80.512934419109
    Latitude
    35.223106220919

    Nearby Similar for Sale

    • $1,242,600
      41.42 Acres

      Farmland Near Midland, North Carolina

      41.42 acres of farmland with development potential near Midland.
      24/27 Nc Hwy, Midland, NC 28107
      View Details

    FAQs

    What type of property is this?
    Land - ±34.65 acres Commercial/Industrial Land
    Where is this land located?
    The property is located at Wallace Rd Midland, NC.
    What is the asking price?
    The asking price for this property is $2,945,560.
    What are key features of this property?
    This property features: ±34.651-acre commercial/industrial land parcel in Midland, NC (28107), at Hwy 601 & Wallace Rd intersection.; Significant frontage: ~685' on Wallace Rd, ~11,640' on Hwy 601. GI zoning; water & sewer available.; Rail service via Aberdeen Carolina & Western Railway (access to NS & CSX lines). Parcel IDs: 55448044240000 & 55448132260000.
    (704) 904-4796 Call to check price and availability
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    Wallace Rd Midland, NC 28107
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    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
    Wallace Rd Midland, NC 28107
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Scott Hensley, Ccim, Sior
    Scott Hensley, Ccim, Sior
    Real Estate License ID: 194282
    (704) 904-4796 (704) 375-1101 (704) 375-1164
    Learn more
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