Kannapolis Home with Commercial
For Sale
$180,000
Pending
2001 Lane Street, Kannapolis, NC 28083
Home in Conditional Zoning District, ideal for commercial or residential.
Property Size906 SF
Days on Market180
Property Features for 2001 Lane Street
General Information
Standard status
Pending
Size
906 SF
Property subtype
Commercial
Amenities
Central air
Golf Cart Garage
Central Air Cooling
Building Details
Year Built
1940
Listing Agency:
KELLER WILLIAMS BALLANTYNE AREA
(704) 887-6600
Listed By:
YASSINE DAHBI · License #294067
Source:
Corcoran
Added: Mar 4
Changed: Aug 8
Last Checked: Jul 23 at 8:20AM
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 KELLER WILLIAMS BALLANTYNE AREA
Investment Insights
Based on property information with market context.
Located in the Conditional Zoning District of Kannapolis, this 906-square-foot property is suitable for light commercial and office use. The property features new laminated flooring, new window blinds, and new windows. A recently installed HVAC system is in place. The home includes two bedrooms and a full bath. The kitchen has been updated with a new stainless steel stove and refrigerator, a double stainless steel sink, a backsplash, and granite countertops. The living room offers natural sunlight. A covered front porch is present. The property includes an over-sized detached three-car garage, suitable as a workshop area, with outdoor parking for up to six cars. The location provides access to I-85.
Key Highlights
- Zoned for light commercial/office use in Kannapolis.
- Over‑sized detached three‑car garage with parking for up to six cars.
- Updated kitchen with new stainless steel appliances and granite countertops.
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
$15,889
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
8.83%
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%
$317,780
$317.8K
Cap Rate 7%
$226,986
$227.0K
Cap Rate 9%
$176,544
$176.5K
Market Conditions
NOI Build-Up for 906 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
$23.6K $26.04/SF
− Vacancy
−$2.4K −$2.66/SF
EGI
$21.2K $23.38/SF
− OpEx
−$5.3K −$5.85/SF
NOI
$15.9K $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%
$317,780
Cap Rate 7%
$226,986
Cap Rate 9%
$176,544
Alternative Uses
Best Use
Office B
$227.0K
$198.6K – $264.8K
NOI $15,889 @ 7.0% cap · market cap 8.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$285.2K
$249.5K – $332.7K
NOI $19,961 @ 7.0% cap · market cap 11.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
112
Businesses Nearby
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Home in Conditional Zoning District, ideal for commercial or residential.
Where is this office units located?
The property is located at 2001 Lane Street Kannapolis, NC.
What is the asking price?
The asking price for this property is $180,000.
What are key features of this property?
This property features: Zoned for light commercial/office use in Kannapolis.; Over‑sized detached three‑car garage with parking for up to six cars.; Updated kitchen with new stainless steel appliances and granite countertops.
