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    Property profile & analytics

    Cornelius Rd Rockwell, NC 28138

    • Land
    • 2.74 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Cornelius Rd

    Lot size
    2.74 lot acres
    Property type
    Land

    Description

    This exceptional 2.74-acre residential lot presents a unique investment opportunity in Rockwell, North Carolina. Located on Cornelius Road, this property boasts a desirable RA zoning designation, opening possibilities for new home construction. The land is primarily wooded, offering a tranquil setting while being conveniently situated near existing housing developments. The property's address is Cornelius Rd, Rockwell, NC 28138, and its APN is 361057. Prospective buyers are encouraged to verify permitted uses with Rowan County to ensure alignment with their development plans. This is an excellent chance to acquire a sizable parcel in a growing area, ideal for building a new home or developing multiple residential units. The asking price for this prime piece of land is $150,000. The property's location offers a blend of peaceful surroundings and convenient access to local amenities. Don't miss this chance to secure this attractive residential lot.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Rockwell
    County
    Rowan
    State
    North Carolina
    Longitude
    -80.4236
    Latitude
    35.5608

    Comparable in this City

    • Value Estimation
      $270,000
      6,664 SF

      406 Main St

      APARTMENT HOUSE (UNDER 5 UNITS) • 6,664 SF
      406 Main St, Rockwell, NC 28138-7429
      View Details
    • Value Estimation by Request
      0.46 Acres

      Us 52nd Hwy

      VACANT COMMERCIAL LAND • 0.46 Acres
      Us 52nd Hwy, Rockwell, NC 28138
      View Details
    • Value Estimation by Request
      0.04 Acres

      Main St

      VACANT COMMERCIAL LAND • 0.04 Acres
      Main St, Rockwell, NC 28138
      View Details
    • Value Estimation by Request
      0.74 Acres

      Midfield Dr

      INDUSTRIAL - VACANT LAND • 0.74 Acres
      Midfield Dr, Rockwell, NC 28138
      View Details
    • Value Estimation by Request
      0.34 Acres

      Us 52nd Hwy

      VACANT COMMERCIAL LAND • 0.34 Acres
      Us 52nd Hwy, Rockwell, NC 28138
      View Details
    • Value Estimation by Request
      1.00 Acre

      Us 52nd Hwy

      VACANT COMMERCIAL LAND • 1.00 Acre
      Us 52nd Hwy, Rockwell, NC 28138
      View Details

    Similar Nearby for Sale

    • $225,000

      8.45 Acres of Country Land

      Land with ponds, wells, and septic systems ready for development.
      11155 Us Hwy, Rockwell, NC 28138
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    • $117,500
      2.74 Acres

      Wooded Land Near Housing

      Wooded 2.74-acre property near housing developments in Rockwell, NC.
      Cornelius Rd, Rockwell, NC 28138
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    • $250,000
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      Rockwell, NC Wooded Land Parcel

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      Scenic Land in Rockwell, NC

      10 to 35 acres of scenic land in Rockwell.
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      Cleared Land Parcel For Sale

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    • $145,000
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      Rockwell, NC Investment Land

      Wooded lot, 2.74 acres, $145,000
      Cornelius Rd, Rockwell, NC 28138
      View Details
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    Cornelius Rd
    Rockwell, NC 28138
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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
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