Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Lancaster Ave Monroe, NC 28112

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Commercial lot for development in Monroe, North Carolina.

    Type:Land
    Lot size:
    2.60 Acres
    Added:
    Sep 12, 2023
    Days on Market:
    953
    Last Refresh:
    Mar 17 at 1:24 pm

    Property Features for Lancaster Ave

    General Information

    Standard status
    Active
    Lot size
    2.60 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Mark Wright

    Listing agent Mark Wright License #NC 188484

    Listing office MW Commercial Realty LLC

    Listing date Sep 12, 2023

    Source Crexi

    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 MW Commercial Realty LLC

    Overview

    2.6 Acre Commercial Lot

    This 2.6-acre commercial lot is available for development on Lancaster Avenue, near the corner of Martin Luther King Jr. Boulevard in Monroe, North Carolina. The property is zoned NB (Neighborhood Business). Utilities are available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Monroe
    County
    Union
    State
    North Carolina
    Longitude
    -80.550715
    Latitude
    34.979058

    Nearby Similar for Sale

    • $800,000

      Warehouse, Office, and Land Opportunity

      Union County commercial property with warehouse, office, and land.
      5610 Morgan Mill Road, Monroe, NC 28110
      View Details
    • $615,000

      Commercial Land Near Highway 74

      Commercial property with high traffic, redevelopment potential, and flexible zoning.
      3708 Wesley Chapel Stouts Road, Monroe, NC 28110
      View Details
    • $844,900

      Monroe Land with Shop

      7.18 acres in Union County with insulated shop.
      1923 Mcrorie Road, Monroe, NC 28112
      View Details
    • $649,500

      Equestrian Property in Wesley Chapel

      6.3+ acre horse property near shopping and dining.
      205 Airport Road, Monroe, NC 28110
      View Details
    • $400,000

      Monroe Land with Income Potential

      13.35 acres in Union County with commercial zoning.
      7301 Wolf Pond Road, Monroe, NC 28112
      View Details
    • $615,000

      Monroe Commercial Opportunity Near Downtown

      2.58-acre property with updated historic building near downtown Monroe.
      907 N Charlotte Avenue, Monroe, NC 28110
      View Details
    • $2,200,000

      Downtown Investment Opportunity in Monroe

      Unique downtown property ideal for brewery, retail, or entertainment.
      601 N Charlotte Avenue, Monroe, NC 28110
      View Details
    • $275,000

      Residential Land in Monroe, NC

      1.39-acre lot suitable for residential development in Union County.
      Airport Road, Monroe, NC 28110
      View Details
    • $575,000

      Residential Land in Monroe, NC

      7.957 acres of land suitable for residential development.
      Clarence Secrest Road, Monroe, NC 28110
      View Details
    • $129,000

      Residential Land Near Highway 74

      One-acre lot near Hwy 74 in Monroe, North Carolina.
      4010 Concord Highway, Monroe, NC 28110
      View Details
    • $59,999

      Residential Land in Established Community

      Nearly one-acre homesite in Monroe, NC, ready for building.
      Edwards Farm Lane, Monroe, NC 28110
      View Details
    • $289,500

      2.68-Acre Wooded Homesite in Monroe

      Beautiful 2.68-acre wooded homesite ready for your dream home.
      2808 Lathan Road, Monroe, NC 28112
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial lot for development in Monroe, North Carolina.
    Where is this commercial land located?
    The property is located at Lancaster Ave Monroe, NC.
    What is the asking price?
    The asking price for this property is $440,000.
    What are key features of this property?
    This property features: 2.6 acre commercial lot; Zoned NB (Neighborhood Business); Excellent development opportunity
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Mark Wright
    Real Estate License ID: NC 188484
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!