Medical Office Building Net
For Sale
Contact for pricing
Pending
1035 Dale Earnhardt Boulevard, Kannapolis, NC 28083
100% occupied medical office building leased to Novant Health Kannapolis Family Medicine.
Property Size6,190 SF
Days on Market97
Property Features for 1035 Dale Earnhardt Boulevard
General Information
Standard status
Pending
Size
6,190 SF
Property subtype
Retail, Office
Occupancy
100%
Lease Type
NN
Building Details
Year Built
1998
Buildings
1
Tenancy
Single
Listing Agency:
Atlas Realty Group
Listed By:
Kathy McCarthy · License #NC 182634
Source:
Crexi
Added: Jun 1
Changed: Sep 4
Last Checked: Aug 14 at 7:27AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Atlas Realty Group
Investment Insights
Based on property information with market context.
1035 Dale Earnhardt Boulevard is a 6,190-square-foot medical office building offered for sale, with 100% occupancy and a net lease structure. The building is leased to Novant Health Kannapolis Family Medicine, providing a healthcare-focused tenancy within a dedicated medical office configuration.
The property is located at a signalized corner of Dale Earnhardt Boulevard and Main Street in Kannapolis, North Carolina. It offers convenient access to I-85, positioned 26 miles north of Uptown Charlotte.
For investors seeking a single-tenant healthcare asset, this net-leased medical office building is already operating under an established medical practice tenant. For healthcare operators and brokers evaluating similar formats, the site’s medical office use and active occupancy support straightforward facility alignment for ongoing medical services.
The property is located at a signalized corner of Dale Earnhardt Boulevard and Main Street in Kannapolis, North Carolina. It offers convenient access to I-85, positioned 26 miles north of Uptown Charlotte.
For investors seeking a single-tenant healthcare asset, this net-leased medical office building is already operating under an established medical practice tenant. For healthcare operators and brokers evaluating similar formats, the site’s medical office use and active occupancy support straightforward facility alignment for ongoing medical services.
Key Highlights
- 6,190 SF medical office building built in 1998
- 100% occupied and net leased to Novant Health Kannapolis Family Medicine
- Located at the signalized corner of Dale Earnhardt Boulevard and Main Street in Kannapolis, NC
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$108,560
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.02%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,171,200
$2.2M
Cap Rate 7%
$1,550,857
$1.6M
Cap Rate 9%
$1,206,222
$1.2M
Market Conditions
NOI Build-Up for 6,190 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$161.2K $26.04/SF
− Vacancy
−$16.4K −$2.66/SF
EGI
$144.7K $23.38/SF
− OpEx
−$36.2K −$5.85/SF
NOI
$108.6K $17.54/SF
Area
Cabarrus County, NC
Vacancy
10.20%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,171,200
Cap Rate 7%
$1,550,857
Cap Rate 9%
$1,206,222
Alternative Uses
Best Use
Office B
$1.55M
$1.36M – $1.81M
NOI $108,560 @ 7.0% cap · market cap 4.02%
Second Best
Healthcare Medical
$1.23M
$1.08M – $1.44M
NOI $86,212 @ 7.0% cap · market cap 3.19%
Theoretical Best
Office A
$1.95M
$1.70M – $2.27M
NOI $136,378 @ 7.0% cap · market cap 5.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
569
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28083, NC
25,821
Population
11,925
Households
2.2
Avg Household Size
38
Median Age
19%
College-Educated
85%
High-School Grad
20.0 sq mi
ZIP Area
1,291
Density / Sq Mi
$60,563
Median Household Income
$39,831
Median Earnings
$1,120
Median Rent
$194,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - 100% occupied medical office building leased to Novant Health Kannapolis Family Medicine.
Where is this medical office space located?
The property is located at 1035 Dale Earnhardt Boulevard Kannapolis, NC.
What is the asking price?
The asking price for this property is $2,702,509.
What are key features of this property?
This property features: 6,190 SF medical office building built in 1998; 100% occupied and net leased to Novant Health Kannapolis Family Medicine; Located at the signalized corner of Dale Earnhardt Boulevard and Main Street in Kannapolis, NC
