Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    10524 Connell Rd Mint Hill, NC 28227

    • Commercial real estate
    • 51.50 lot acres
    For Sale
    View listing
    $2,950,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1832508
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 10524 Connell Rd

    Lot size
    51.50 lot acres
    Property type
    Commercial real estate
    APN
    139-082-02

    Description

    This exceptional 51.5-acre commercial land parcel, located at 10524 Connell Rd in Mint Hill, North Carolina (zip code 28227), presents a unique investment opportunity. The property, identified by APN 139-082-02, is priced at $2,950,000, translating to $56,408 per acre. Currently zoned "R" for single-family housing, it offers minimum lot sizes of 30,000 square feet with 135-foot lot widths. City water is available, although sewer service is not accessible in this area for residential development. The site boasts excellent topography, with only approximately two acres designated as floodplain. Its strategic location just off I-485 at the Hwy 51 Blair Road exit provides easy access to major transportation routes and is proximate to existing shopping centers and a significant new residential development. Water access is available on Connell Road (approximately 1,100 feet) and Blair Road (approximately 1,830 feet). This property offers substantial potential for various commercial ventures, given its size, location, and access to key infrastructure. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Mint Hill
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.6276835
    Latitude
    35.2105973

    Comparable in this City

    • $2,150,000
      3.22 Acres

      Mint Hill Commercial Opportunity

      3.22 acres in downtown Mint Hill with two buildings.
      7701 Matthews Mint Hill Rd, Mint Hill, NC 28227
      View Details
    • Contact for pricing

      Residential Land in Mint Hill

      Residential land available in Mint Hill, Mecklenburg County.
      9400-9708 Blair Rd, Mint Hill, NC 28227
      View Details
    • Contact for pricing

      Crown Point Corporate Park Land

      Land in mixed-use development, close to major roads.
      2224 Coronation Blvd, Charlotte, NC 28227
      View Details
    • $425,000
      2.17 Acres

      Residential Land in Mint Hill Estates

      2.171-acre residential land in a peaceful, convenient location.
      11925 Brief Rd, Charlotte, NC 28227
      View Details
    • $525,000
      0.84 Acres

      Mint Hill Residential Land - Prime Location

      .842 Acres, High Traffic Area, Excellent Investment
      51 At Fairview Rd Hwy 218, Mint Hill, NC 28227
      View Details
    • $800,000

      Mint Hill Commercial Land Opportunity

      1.285 Acres, Owner Financing Available
      4332 Sunset Dr, Mint Hill, NC 28227
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      65 Acres Industrial Land I-485

      65-acre industrial land tract with I-485 frontage in Mint Hill.
      10501 Truelight Church Rd, Mint Hill, NC 28227
      View Details
    • Contact for pricing

      177-Acre Master Planned Business Park

      177-acre business park with GI zoning and outdoor storage.
      10701 Blair Rd, Mint Hill, NC 28227
      View Details
    • $215,000

      Wooded Home Site in Cheval

      Serene, natural setting in Creekside at Cheval neighborhood.
      3900 Piaffe Ave, Mint Hill, NC 28227
      View Details
    • $800,000

      Commercial Land Development Opportunity

      1.285 ac development opportunity approved for commercial zoning.
      4332 Sunset Dr, Mint Hill, NC 28227
      View Details
    • $525,000
      0.84 Acres

      Mint Hill Residential Land - Prime Location

      .842 Acres, High Traffic Area, Excellent Investment
      51 At Fairview Rd Hwy 218, Mint Hill, NC 28227
      View Details
    • $800,000

      Mint Hill Commercial Land Opportunity

      1.285 Acres, Owner Financing Available
      4332 Sunset Dr, Mint Hill, NC 28227
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Land For Rent Opportunity

      Land available for rent near Cresswind Charlotte & Novant Health.
      12530 Albemarle Rd, Mint Hill, NC 28227
      View Details
    • Contact for pricing

      Prime Land in Mint Hill

      High-growth location with considerable potential in a thriving area.
      11325 Blair Rd, Mint Hill, NC 28227
      View Details
    • Contact for pricing
      45,560 SF

      Albemarle Road Retail Opportunity

      High-visibility retail land, build-to-suit options.
      0 Albemarle Rd & Cresswind Blvd, Charlotte, NC 28227
      View Details
    • $150,000
      43,560 SF

      Commercial Land in Booming Area

      Cleared land in busy corridor with high visibility and traffic.
      9452 Albemarle Rd, Charlotte, NC 28227
      View Details
    • Contact for pricing

      Land for Lease or Build

      Approximately 1.990 AC available for ground lease or build to suit.
      11871 Albemarle Rd, Charlotte, NC 28227
      View Details
    • $22 SF/Yr
      22,399 SF

      Creekside Greenway Office Space

      Charlotte Office Park: Modern Suites Available
      7508 Independence Blvd, Charlotte, NC 28227
      View Details
    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.
    10524 Connell Rd
    Mint Hill, NC 28227
    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.
    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.