Add Listing
Property Lookup
    Property Lookup
    • 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
    Property profile & analytics

    181 Hwy 24th 27th W Midland, NC 28107-7418

    • Warehouses
    • 6,000 SF
    • 2.99 lot acres
    OFF-MARKET
    Last Sale
    May 06, 2022
    $600,000
    Value Estimations
    $560,000
    Show details
    Cap Rate Potential
    9.1%
    Warehouses
    Location Intelligence
    Property ID
    US53-1206384
    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

    • Warehouses

    Property Details for 181 Hwy 24th 27th W

    Year built
    2005
    Construction
    STEEL FRAME
    Lot size
    2.99 lot acres
    Property size
    6,000 SF
    Zone code
    OI
    Property type
    Warehouses
    APN
    5524 98 2863
    APU
    5524982863

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $480,000
      ML approach
      $465,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $725,000
      6.5%
      $670,000
      7%
      $625,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $556,000
      Market price range: $344k - $756k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $520,000
      Current use
      AUTO REPAIR, GARAGE
      $865,000
      Change: +67% Conversion: Easy
      COMMERCIAL (GENERAL)
      $775,000
      Change: +50% Conversion: Difficult
      RETAIL STORES
      $715,000
      Change: +38% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Midland
    County
    Cabarrus
    State
    North Carolina
    Longitude
    -80.5768
    Latitude
    35.2478
    CBSA code
    16740
    CBSA name
    CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $3,864
    $159,880
    $411,720
    $571,600
    -
    $159,880
    $411,720
    $571,600

    Comparable in this City

    • Value Estimation
      $580,000
      6,506 SF

      4041 Nc Hwy 51st E

      MINI-WAREHOUSE, STORAGE • 6,506 SF
      4041 Nc Hwy 51st E, Midland, NC 28107
      View Details
    • Value Estimation
      $1,080,000
      20,583 SF

      13650 Broadway Ave

      WAREHOUSE, STORAGE • 20,583 SF
      13650 Broadway Ave, Midland, NC 28107
      View Details
    • Value Estimation by Request
      4,550 SF

      12193 Pne Blf Rd

      WAREHOUSE, STORAGE • 4,550 SF
      12193 Pne Blf Rd, Midland, NC 28107-5711
      View Details
    • Value Estimation by Request
      3,600 SF

      9846 Reed Mine Rd

      WAREHOUSE, STORAGE • 3,600 SF
      9846 Reed Mine Rd, Midland, NC 28107
      View Details
    • Value Estimation by Request
      4,000 SF

      210 Alvin Hough Rd

      WAREHOUSE, STORAGE • 4,000 SF
      210 Alvin Hough Rd, Midland, NC 28107-7434
      View Details
    • Value Estimation by Request
      6,000 SF

      13570 Hwy 601us

      WAREHOUSE, STORAGE • 6,000 SF
      13570 Hwy 601us, Midland, NC 28107-9456
      View Details

    Similar Nearby for Sale

    • $2,945,560
      34.65 Acres

      Hwy 601 & Wallace Rd Land

      ±34.65 acres Commercial/Industrial Land
      0 Wallace Rd, Midland, NC 28107
      View Details
    • $2,500,000
      98.52 Acres

      98.52 Acres Riverfront Land

      Large land parcel with river frontage in a growing area.
      10130 Reed Mine Rd, Midland, NC 28107
      View Details
    • $40,000
      0.05 Acres

      Cleared Commercial Lot in Midland

      Vacant commercial lot in a rapidly growing North Carolina community.
      2 Kingsbury Dr, Midland, NC 28107
      View Details
    • $2,500,000
      13.65 Acres

      Prime Commercial Land in Midland, NC

      13.65 acres at the intersection of Hwy 601 and 24/27.
      4200 Nc Hwy, Midland, NC 28107
      View Details
    • $59,900
      1.00 Acre

      One Acre Lot in Midland

      One acre commercial lot in Midland, North Carolina.
      11484 Bethel Church Rd, Midland, NC 28107
      View Details
    • $5,000,000
      25 SF

      Prime Commercial Land Opportunity

      25.98-acre commercial land in growing Midland and Mint Hill corridor.
      Midland, NC 28107
      View Details

    Similar Nearby for Lease

    • $900 /Mo

      Commercial Rental with Drive-in Door

      Commercial rental featuring office space, storage, and drive-in access.
      1335 Aj Tucker Loop, Midland, NC 28107
      View Details
    • $1,550 /Mo

      Remodeled Office/Warehouse Space Available

      Newly remodeled office/warehouse space with highway visibility and flexible lease terms.
      1327 Nc 24 27 Hwy, Midland, NC 28107
      View Details
    • $900 /Mo
      130,680 SF

      Midland NC Commercial Rental Space

      Commercial rental with office, storage, drive-in door, and parking.
      1335 Aj Tucker Loop, Midland, NC 28107
      View Details
    • $1,600 /Mo
      161,738 SF

      Commercial Space in Midland, NC

      Office/showroom/retail space with large windows and easy access.
      1329 Hwy 24/27, Midland, NC 28107
      View Details
    • $1,550 /Mo
      130,680 SF

      Remodeled Office Space For Lease

      Newly remodeled office space with flexible lease terms available.
      1327 Nc Hwy, Midland, NC 28107
      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.
    181 Hwy 24th 27th W
    Midland, NC 28107-7418
    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!