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1422 Nottingham Rd Kannapolis, NC 28081

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For Sale
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24-unit townhome community with income potential in Kannapolis, NC.

Property size:
21,816 SF
Lot size:
2.22 Acres

Property Features for 1422 Nottingham Rd

General Information

Standard status
Active
Zoning
R4
Size
21,816 SF
Lot size
2.22 Acres

Building Details

Year built
1971

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Listing Contact
Kimberlee Rosenburgh
Source: Crexi

Listing Agency: US Developments Listing Agent: Kimberlee Rosenburgh

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

Kannapolis Townhome Community For Sale

The Townhomes at Cannon Mills, located at 1422 Nottingham Dr., Kannapolis, NC, is a 24-unit townhome community situated on approximately 2.22 acres. The property consists of two-story units with 2 bedrooms and 1.5 bathrooms, each featuring front and back porches, located in a quiet residential neighborhood just outside of Downtown Kannapolis. The property offers durable in-place cash flow with a clear path to additional revenue through continued rent optimization toward prevailing submarket levels, including the opportunity to further modernize remaining interiors with upgraded finishes to support premium rent positioning. A recent capital improvement program of approximately $500,000 materially reduces near-term CapEx and supports long-term performance, including an exterior overhaul (painted brick, metal awnings, shutters, upgraded lighting, gutters), new concrete patios and railings, new windows, upgraded electrical panels, utility optimization, a new asphalt parking lot with wheel bumpers, and targeted HVAC replacements. These improvements enhance curb appeal, operating efficiency, and durability. Kannapolis has emerged as a growth market anchored by the 350-acre North Carolina Research Campus, along with expanding healthcare and advanced manufacturing. The asset is located approximately 2.5 miles from Downtown Kannapolis, less than 5 miles from Atrium Health Cabarrus, and offers convenient access to I-85. It is approximately 25 miles to Uptown Charlotte, providing strong regional demand drivers with a favorable cost-of-living profile. The property size is 21816 square feet. For investors, Townhomes at Cannon Mills combines suburban stability with Charlotte-metro connectivity. It is an upgraded, well-located, income-producing asset positioned for continued performance in a market benefiting from sustained population and income growth.
Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop Accounting Firm

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

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  • Local Demand
City
Kannapolis
County
Cabarrus
State
North Carolina
Longitude
-80.6429276
Latitude
35.4704009

FAQs

What type of property is this?
Apartment building - 24-unit townhome community with income potential in Kannapolis, NC.
Where is this apartment building located?
The property is located at 1422 Nottingham Rd Kannapolis, NC.
What are key features of this property?
This property features: - Recently completed ±$500,000 capital improvement program enhances curb appeal, operating efficiency, and durability.; - Durable in-place cash flow with opportunity for additional revenue through rent optimization and interior upgrades.; - Located in Kannapolis, a growth market anchored by the North Carolina Research Campus, healthcare, and advanced manufacturing.
More about this property
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