Building Details

Year built 1998

Floors in Building 1

Listing Agency: Century 21 Providence Realty · Century 21 Real Estate i***@aol.com Show Phone

Listed By: Pat Flanagan Show Phone

Added: Jul 10 Changed: Oct 7 Last Checked: Oct 10 at 11:06AM

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MLS# 4402934

Copyright © 2026 Canopy MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This warehouse property contains a multi-tenant industrial arrangement with three established occupants and 100% occupancy. The improvements were built in 1998 and the site is secured with chain-link fencing.

Located in Concord within Cabarrus County, the property sits near Interstate 85, offering access to Charlotte, Kannapolis, Concord, regional transportation routes, and surrounding industrial markets. Its position also connects to area labor pools and distribution networks.

Key Highlights

• 100% occupied by three established tenants
• Warehouse property in an established Cabarrus County industrial corridor
• Built in 1998

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$190,901

Cap Rate

7.34%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,818,020 $3.8M

Cap Rate 7%

$2,727,157 $2.7M

Cap Rate 9%

$2,121,122 $2.1M

Market Conditions

NOI Build-Up for 15,980 SF

Gross rent

$233.9K $14.64/SF

− Vacancy

−$9.4K −$0.59/SF

EGI

$224.6K $14.05/SF

− OpEx

−$33.7K −$2.11/SF

NOI

$190.9K $11.95/SF

Area

Concord, NC

Vacancy

4.00%

Lease Rate

$14.64 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,818,020

Cap Rate 7%

$2,727,157

Cap Rate 9%

$2,121,122

Alternative Uses

Best Use

Warehouse

$2.73M

$2.39M – $3.18M (±1% cap)

NOI $190,901 @ 7.0% cap · market cap 7.34%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$4.35M

$3.81M – $5.08M (±1% cap)

NOI $304,826 @ 7.0% cap · market cap 11.72%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Carolina Precision Switchgear Engineer

Suggested Use

Top Pick Law Firm HVAC Service Grocery & Convenience Store Furniture & Home Goods Locksmith Veterinary Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

100%

Occupancy

Multi-tenant

Tenancy

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

1,165

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 28027, NC

76,478

Population

31,450

Households

2.4

Avg Household Size

36

Median Age

43%

College-Educated

92%

High-School Grad

69.0 sq mi

ZIP Area

1,108

Density / Sq Mi

$89,101

Median Household Income

$48,976

Median Earnings

$1,433

Median Rent

$341,900

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this warehouses located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Warehouse - Fenced industrial property is fully occupied by three established tenants.

Where is this warehouse located?

The property is located at 1032 Central Drive NW Concord, NC.

What is the asking price?

The asking price for this property is $2,600,000.

What are key features of this property?

This property features: 100% occupied by three established tenants; Warehouse property in an established Cabarrus County industrial corridor; Built in 1998