Detectives say the 35-year-old was held at an address in the Macmerry area and charged after the drugs were found.
The pre-planned raid was made possible after police secured a warrant to search the premises last Wednesday.
It was thought the drugs would be worth around £1000 on the streets.
A report has gone to the Procurator Fiscal’s office foloowing the operation.
PC Ryan Gilhooly said: “The supply and misuse of drugs devastates lives and has an adverse impact on our whole society.
“The curtailing of this activity is a priority for us.”