Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Prime Land Parcel Available Title is generated by Realmo AI

    Plaza Road / Rocky River Road, Charlotte, NC 28215

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

    Approximately 1.5 acres available for sale, multiple development options.

    Type:Multifamily, Office, Hospitality, Land
    Property size:
    20,000 SF
    Lot size:
    1.50 Acres
    Price / SF:
    $100/SF
    Added:
    Aug 26, 2024
    Days on Market:
    636
    Last Refresh:
    May 12 at 9:30 pm

    Property Features for Plaza Road / Rocky River Road

    General Information

    Standard status
    Active
    Size
    20,000 SF
    Lot size
    1.50 Acres
    Property subtype
    Multifamily, Office, Hospitality, Land

    We can help!

    Listing Contact
    Caldwell Rose
    Caldwell Rose

    Listing agent Caldwell Rose License #NC 121686

    Listing office NAI Southern Real Estate

    Listing date Aug 26, 2024

    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 NAI Southern Real Estate

    HighLights

    • 1.5 Acres Available
    • Build To Suit Options
    • Potential for Hotel, Office, or Retail
    • CC Zoning in Mecklenburg County
    • PUD in Cabarrus County
    • Raw Land Purchase Option

    Overview

    Available for purchase is an approximate 1.5-acre parcel, offering the flexibility of raw land acquisition or potential build-to-suit options. The site is suitable for hotel, office, or retail development. The zoning is CC in Mecklenburg County and PUD in Cabarrus County.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Charlotte
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.6973
    Latitude
    35.2466

    Nearby Similar for Sale

    • $523,900

      University City Office Investment Package

      Tenant-occupied office condos in University City, great investment opportunity.
      1913 J N Pease Place, Charlotte, NC 28262
      View Details
    • $579,000
      1,650 SF

      South Charlotte Office/Warehouse Space

      End-unit office/warehouse near HWY-77 & HWY-485 interchange.
      362 Crompton Street, Charlotte, NC 28273
      View Details
    • $2,500,000
      3,126 SF

      Retail Buildings in Charlotte, NC

      Two retail buildings on 0.733 acres in Charlotte, NC.
      2934 & 2938 Shamrock Drive, Charlotte, NC 28205
      View Details
    • $440,000
      1,800 SF

      East Charlotte Duplex Investment Opportunity

      Well-maintained duplex in East Charlotte with income potential.
      2929 Amity Garden Court, Charlotte, NC 28205
      View Details
    • $890,000

      Commercial Land on Albemarle Road

      3.12-acre commercial land parcel in East Charlotte.
      8705 Albemarle Road, Charlotte, NC 28227
      View Details
    • $794,900
      4,010 SF

      New Construction Duplex in Charlotte

      New construction duplex with modern amenities and convenient location.
      339 & 343 Gray Drive, Charlotte, NC 28213
      View Details
    • $525,000

      Commercial Opportunity Near Uptown Charlotte

      Commercial property near Uptown Charlotte with flexible-use rooms and ample parking.
      738 Pierson Drive, Charlotte, NC 28205
      View Details
    • $375,000
      1,078 SF

      Charlotte Commercial Unit For Sale

      Commercial unit in Charlotte business park, suitable for office/commercial use.
      2915 Robin Road, Charlotte, NC 28211
      View Details
    • $1,200,000
      2,857 SF

      Residential Land in Growing Corridor

      5.12 acres in a growing area near Charlotte, NC.
      5913 Tom Query Road, Charlotte, NC 28213
      View Details
    • $725,000

      Two Income Properties Near UNCC

      Two multi-family properties in Charlotte's University area, ideal for investors.
      9524 & 9525 Robert Burns Court, Charlotte, NC 28213
      View Details
    • $650,000

      Residential Land in Growing Neighborhood

      Prime infill lot in desirable Charlotte location.
      1122 Zion Court, Charlotte, NC 28209
      View Details
    • $250,000
      3,378 SF

      Ready-to-Go Homesite in Charlotte, NC

      Exceptional homesite in a rapidly evolving Charlotte neighborhood.
      605 Franklin Avenue, Charlotte, NC 28206
      View Details

    FAQs

    What type of property is this?
    Land - Approximately 1.5 acres available for sale, multiple development options.
    Where is this land located?
    The property is located at Plaza Road / Rocky River Road Charlotte, 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: 1.5 Acres Available; Build To Suit Options; Potential for Hotel, Office, or Retail
    (704) 375-1000 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Caldwell Rose
    Caldwell Rose
    Real Estate License ID: NC 121686
    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
    Plaza Road / Rocky River Road, Charlotte, NC 28215
    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!