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    5107 Myers Rd Monroe, NC 28110
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    5107 Myers Rd Monroe, NC 28110

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    • Commercial real estate
    • 19.72 lot acres
    For Sale
    $5,423,000
    View Listing →
    Land Parcel Near Monroe Expressway For Sale
    $5,423,000
    19.72 Acres

    Land Parcel Near Monroe Expressway

    Land available for commercial rezoning near Monroe Expressway.

    5107 Myers Rd, Monroe, NC
    View Listing
    Property ID
    US53-4933191
    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 5107 Myers Rd

    Lot size
    19.72 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 19.72-acre commercial land parcel presents a significant investment opportunity in the thriving Monroe, North Carolina market. Located at 5107 Myers Rd, in Union County, zip code 28110, this expansive property offers unparalleled potential for a wide range of commercial developments. The site's generous acreage allows for substantial building footprints, ample parking, and extensive landscaping, catering to diverse project needs. Its strategic location provides excellent visibility and accessibility, ensuring high traffic exposure and convenient access for customers and employees. The property is zoned for commercial use (specific zoning details are available upon request). Given its size and prime location, this land is ideally suited for a variety of commercial ventures, including retail centers, office complexes, light industrial facilities, or other suitable commercial developments. The asking price is $5,423,000. Detailed site surveys and environmental reports are available for review. This is a rare opportunity to acquire a substantial commercial land holding in a rapidly growing area of North Carolina. Don't miss this chance to secure a prime location for your next commercial project. Contact us today to schedule a site visit and explore the possibilities. Latitude and longitude coordinates are 35.0563498, -80.5964791 respectively.

    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
    Monroe
    County
    Union
    State
    North Carolina
    Longitude
    -80.5964791
    Latitude
    35.0563498

    Comparable in this City

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      Commercial Land Near Monroe Expressway

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      31 Acres Near Weddington Road

      31 +/- acres of land ready for development.
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      Prime Commercial Lot in Monroe

      0.75-acre commercial lot, excellent development opportunity in Monroe, NC.
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    Similar Nearby for Sale

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      Indian Trail/Monroe Land Opportunity

      2+/- acre land parcel in a sought-after location.
      4919 Myers Rd, Monroe, NC 28110
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      Commercial Land on Roosevelt Blvd

      0.64 acres of commercial land with high visibility.
      2000 W Roosevelt Blvd, Monroe, NC 28110
      View Details
    • $3,583,600

      Acreage Near Monroe Expressway

      Acreage available near Unionville Indian Trail Rd and Secrest Short Cut Rd.
      5914 Secrest Shortcut Rd, Monroe, NC 28110
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    • $297,000

      Commercial Land Near Monroe Expressway

      Zoned for general business, suitable for retail or warehouses.
      Skyway Dr, Monroe, NC 28110
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    • $2,042,000

      31 Acres Near Weddington Road

      31 +/- acres of land ready for development.
      00 S Rocky River Rd, Monroe, NC 28110
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    • $200,000

      Prime Commercial Lot in Monroe

      0.75-acre commercial lot, excellent development opportunity in Monroe, NC.
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    Similar Nearby for Lease

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      2208 W Roosevelt Blvd, Monroe, NC 28110

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      4,179 SF

      Prime Retail Location For Rent

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      Land for Lease in Monroe

      2.21 AC available for ground lease in Monroe, NC.
      1923 Old Charlotte Hwy, Monroe, NC 28110
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      Commercial Land on Windmere Drive

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      Land For Rent Monroe

      Land available for rent in Monroe, North Carolina.
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      Prime Retail Land for Lease

      Retail land available for ground lease in thriving area.
      West Roosevelt Blvd, Monroe, NC 28110
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    View Listing
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    5107 Myers Rd
    Monroe, NC 28110
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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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