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    10524 Connell Rd Mint Hill, NC 28227

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    10524 Connell Rd Mint Hill, NC 28227

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    • Commercial real estate
    • 51.50 lot acres
    Off-Market
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    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 estimation — 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

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      Mint Hill Land For Sale

      Land in Mint Hill, NC, for building a custom home.
      12804 Early Meadow Way, Mint Hill, NC 28227
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      Mint Hill Land Opportunity

      1.91-acre homesite in equestrian-themed community near Charlotte.
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      1.07-acre wooded homesite in Cheval, Charlotte, North Carolina.
      6140 Volte Dr, Charlotte, NC 28227
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    • $285,000
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      Prime Commercial Lot, Mint Hill

      High-visibility commercial parcel in the heart of downtown Mint Hill.
      4309 Wilgrove Mint Hill Rd, Mint Hill, NC 28227
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      Commercial Land Near Mint Hill

      Outparcel location near downtown Mint Hill with highway frontage.
      51 At Fairview Rd Hwy 218, Charlotte, NC 28227
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    Similar Nearby for Sale

    • $330,000
      0.92 Acres

      Mint Hill Land For Sale

      Land in Mint Hill, NC, for building a custom home.
      12804 Early Meadow Way, Mint Hill, NC 28227
      View Details
    • $400,000
      1.91 Acres

      Mint Hill Land Opportunity

      1.91-acre homesite in equestrian-themed community near Charlotte.
      6421 Joli Cheval Ln, Mint Hill, NC 28227
      View Details
    • $275,000
      1.07 Acres

      Residential Land in Gated Community

      1.07-acre wooded homesite in Cheval, Charlotte, North Carolina.
      6140 Volte Dr, Charlotte, NC 28227
      View Details
    • $285,000
      0.46 Acres

      Prime Commercial Lot, Mint Hill

      High-visibility commercial parcel in the heart of downtown Mint Hill.
      4309 Wilgrove Mint Hill Rd, Mint Hill, NC 28227
      View Details
    • Contact for pricing

      Commercial Land Near Mint Hill

      Outparcel location near downtown Mint Hill with highway frontage.
      51 At Fairview Rd Hwy 218, Charlotte, NC 28227
      View Details

    Similar Nearby for Lease

    • 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

      Land Available For Ground Lease

      Land available for ground lease, build-to-suit, or multi-tenant development.
      Albemarle Rd & Cresswind Blvd, Charlotte, NC 28227
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    • $150,000
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      Commercial Land in Busy Corridor

      Cleared land suitable for various businesses in a booming area.
      9452 Albemarle Rd, Charlotte, NC 28227
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      Land For Rent Opportunity

      Land available for rent near Cresswind Charlotte & Novant Health.
      12530 Albemarle Rd, Mint Hill, NC 28227
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      Land for Lease or Build

      Approximately 1.990 AC available for ground lease or build to suit.
      11871 Albemarle Rd, Charlotte, NC 28227
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    • Contact for pricing

      Mint Hill Warehouse Space

      Warehouse/distribution space available in Mint Hill, North Carolina.
      10650 Blair Rd, Mint Hill, NC 28227
      View Details
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    Mint Hill, NC 28227
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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.

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    10524 Connell Rd, Mint Hill, NC, 28227

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