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    Property profile & analytics

    18309 Statesville Rd Cornelius, NC 28031-9184

    • Warehouses
    • 6,000 SF
    • 1.15 lot acres
    OFF-MARKET
    Value Estimations
    $540,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1367230
    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

    • Highway Equipment & Tractor, formerly Lake Norman Tractor Co. / Agricultural Supply

    Property Details for 18309 Statesville Rd

    Year built
    1989
    Lot size
    1.15 lot acres
    Property size
    6,000 SF
    Zone code
    HC
    Property type
    Warehouses
    APN
    508304
    APU
    508304

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $680,000
      6.5%
      $630,000
      7%
      $585,000

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $770,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Cornelius
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.8715
    Latitude
    35.4629
    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
    2023
    $6,167
    $697,300
    $257,000
    $954,300
    -
    $697,300
    $257,000
    $954,300

    Comparable in this City

    • Value Estimation
      $520,000
      6,520 SF

      18303 Jetton Rd

      WAREHOUSE, STORAGE • 6,520 SF
      18303 Jetton Rd, Cornelius, NC 28031-7475
      View Details
    • Value Estimation by Request
      3,156 SF

      19100 Catawba Ave

      WAREHOUSE, STORAGE • 3,156 SF
      19100 Catawba Ave, Cornelius, NC 28031-5601
      View Details
    • Value Estimation
      $660,000
      7,500 SF

      19000 Catawba Ave

      WAREHOUSE, STORAGE • 7,500 SF
      19000 Catawba Ave, Cornelius, NC 28031-5603
      View Details
    • Value Estimation
      $7,260,000
      78,304 SF

      19320 Liverpool Pkwy

      MINI-WAREHOUSE, STORAGE • 78,304 SF
      19320 Liverpool Pkwy, Cornelius, NC 28031-6389
      View Details
    • Value Estimation
      $1,045,000
      15,264 SF

      17725 Old Statesville Rd

      WAREHOUSE, STORAGE • 15,264 SF
      17725 Old Statesville Rd, Cornelius, NC 28031
      View Details
    • Value Estimation
      $1,345,000
      24,264 SF

      17711 Old Statesville Rd

      WAREHOUSE, STORAGE • 24,264 SF
      17711 Old Statesville Rd, Cornelius, NC 28031
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1.17 Acres

      Jetton Road Development Opportunity

      1.17 Acres, High-Traffic Location, VC Zoning
      19820 Jetton Rd, Cornelius, NC 28031
      View Details
    • $750,000
      0.70 Acres

      Cornelius Land Ready For Development

      Large flat lot in prime location near downtown Cornelius, NC.
      19623 Oak St, Cornelius, NC 28031
      View Details
    • Contact for pricing
      1,632 SF

      Downtown Cornelius Retail Opportunity

      Retail building in downtown Cornelius with high foot traffic.
      19829 S Main St, Cornelius, NC 28031
      View Details
    • $700,000
      2,545 SF

      Mixed-Use Opportunity in Downtown Cornelius

      Renovated mixed-use property with NMX zoning, suitable for various uses.
      20230 N Main St, Cornelius, NC 28031
      View Details
    • $265,000
      0.33 Acres

      Cornelius Land Near Downtown

      Level, cleared 0.33 acre lot near downtown Cornelius.
      Meridian St, Cornelius, NC 28031
      View Details
    • $1,900,000

      Commercial Building with Expansion Potential

      Well-maintained commercial building in Cornelius, NC with expansion possibilities.
      19625 Bethel Church Rd, Cornelius, NC 28031
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      92,049 SF

      Lake Norman Commerce Center: Flex Space Available

      North Charlotte industrial space, 948-3712 sq ft.
      20464-20488 Chartwell Center Dr, Cornelius, NC 28031
      View Details
    • $14 SF/Yr
      5,549 SF

      Flex Space with Extensive Office

      5,549 SF flex space featuring extensive office buildout.
      20484 Chartwell Center Dr, Cornelius, NC 28031
      View Details
    • Contact for pricing
      1,165 SF

      Spacious Office Space Available

      Large office space with kitchenette, reception, and storage.
      18047 W Catawba Ave, Cornelius, NC 28031
      View Details
    • Contact for pricing
      3,000 SF

      Downtown Cornelius Retail/Restaurant Space

      Historic building in arts district, ideal for restaurant or retail.
      21310 Catawba Ave, Cornelius, NC 28031
      View Details
    • Contact for pricing
      15,000 SF

      Highway 73 Office, Medical, Retail

      Office, medical, retail spaces with highway visibility and access.
      Kenton Dr, Cornelius, NC 28031
      View Details
    • Contact for pricing
      2,022 SF

      Renovated Office Space in Cornelius

      Newly renovated office space with modern amenities in a prime location.
      17015 Kenton Dr, Cornelius, NC 28031
      View Details
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    18309 Statesville Rd
    Cornelius, NC 28031-9184
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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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