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    303 Old Amity Hl Rd Cleveland, NC 27013-8800
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    Property profile & analytics

    303 Old Amity Hl Rd Cleveland, NC 27013-8800

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    • Commercial land
    • 4,560 SF
    • 4.30 lot acres
    For Sale
    $499,000
    View Listing →
    Commercial Lot Near Highway 70 For Sale
    $499,000
    3.61 Acres

    Commercial Lot Near Highway 70

    Commercial land with highway frontage near shopping and businesses.

    303 Old Amity Hill Road, Cleveland, NC 27013
    View Listing
    Property ID
    US53-1222499
    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 land

    Property Details for 303 Old Amity Hl Rd

    Year built
    1950
    Lot size
    4.30 lot acres
    Property size
    4,560 SF
    Zone code
    GB
    Property type
    Commercial land
    APN
    276 028
    APU
    276028

    Description

    This exceptional 3.61-acre commercial lot presents a remarkable investment opportunity in Cleveland, North Carolina. Strategically positioned on heavily trafficked Highway 70 (Statesville Boulevard), this property boasts over 700 feet of road frontage, ensuring maximum visibility and accessibility. The lot also offers approximately 800 feet of frontage on Old Amity Hill Road, providing ample space for development. Its prime location directly across from the Daimler Freightliner Plant guarantees a consistent flow of potential customers. The property is part of a thriving commercial area, situated within a shopping center that includes established businesses such as Food Lion, restaurants, an auto parts store, and medical offices. This central location offers easy access to both Statesville and Salisbury, making it an ideal site for a variety of commercial ventures. The expansive size and high visibility of this parcel make it suitable for a wide range of development possibilities, from retail and restaurants to light industrial uses. The existing infrastructure and established commercial environment provide a strong foundation for immediate success. Don't miss this chance to acquire a premier commercial property in a rapidly growing area. Serious inquiries only.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $770,000
      6.5%
      $710,000
      7%
      $660,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $960,000
      Market price range: $201k - $1.17M
      AI Estimate
      $935,000
      Market price range: $298k - $935k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $585,000
      Current use
      MEDICAL BUILDING
      $645,000
      Change: +10% Conversion: Easy
      OFFICE BUILDING
      $560,000
      Change: -5% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Rowan
    State
    North Carolina
    Longitude
    -80.6917
    Latitude
    35.729
    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
    $3,784
    $430,000
    $0.00
    $430,000
    -
    $430,000
    $0.00
    $430,000

    Comparable in this City

    • Value Estimation by Request
      1.19 Acres

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      VACANT COMMERCIAL LAND • 1.19 Acres
      Barber Jct Rd, Cleveland, NC 27013
      View Details
    • Value Estimation by Request
      0.82 Acres

      Barber Jct Rd

      VACANT COMMERCIAL LAND • 0.82 Acres
      Barber Jct Rd, Cleveland, NC 27013
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    • Value Estimation by Request
      0.67 Acres

      Steele Rd

      VACANT COMMERCIAL LAND • 0.67 Acres
      Steele Rd, Cleveland, NC 27013
      View Details
    • Value Estimation by Request
      0.78 Acres

      Woodleaf Barber Rd

      VACANT COMMERCIAL LAND • 0.78 Acres
      Woodleaf Barber Rd, Cleveland, NC 27013
      View Details
    • Value Estimation by Request
      8.52 Acres

      603 Main St

      VACANT COMMERCIAL LAND • 48,483 SF
      603 Main St, Cleveland, NC 27013-8417
      View Details
    • Value Estimation by Request
      1.00 Acre

      Barber Jct Rd

      VACANT COMMERCIAL LAND • 1.00 Acre
      Barber Jct Rd, Cleveland, NC 27013
      View Details

    Similar Nearby for Sale

    • $225,000
      Pending

      Cleveland, NC Commercial Land

      9.14 acres of commercial land off HWY 70.
      Barber Junction Rd, Cleveland, NC 27013
      View Details
    • Contact for pricing

      Commercial Land on Statesville Boulevard

      Commercial land available for sale on Statesville Boulevard.
      000 Statesville Blvd, Cleveland, NC 27013
      View Details
    • $400,000
      10.00 Acres

      Residential Land in Cleveland, NC

      10 acres of R-20 zoned land suitable for development.
      425 Mimosa St, Cleveland, NC 27013
      View Details
    • $40,000
      1.85 Acres

      Land Assemblage Opportunity

      1.85 acre land parcel for assemblage in Cleveland, NC.
      Statesville Blvd, Cleveland, NC 27013
      View Details
    • $65,000
      1.47 Acres

      Land in Cleveland, North Carolina

      1.47 acre land parcel in a peaceful North Carolina town.
      Old Us 70 Hwy, Cleveland, NC 27013
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,710,000 SF

      Land Parcel for Lease

      Large land parcel available for lease in Cleveland, NC.
      Amity Hill Rd, Cleveland, NC 27013
      View Details
    • $1.00 SF/Yr

      Distribution/Fulfillment Center Site Available

      Site suitable for distribution or fulfillment center near major highways.
      177 Triplett Rd, Cleveland, NC 27013
      View Details
    View Listing
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    Cleveland, NC 27013-8800
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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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