Versatile Commercial Property For
For Sale
$500,000
2108 S Cannon Boulevard, Kannapolis, NC 28083
2,398 sq ft commercial property with flexible zoning.
Property Size2,398 SF
Price / SF$208.51
Days on Market145
Property Features for 2108 S Cannon Boulevard
General Information
Standard status
Active
Size
2,398 SF
Property subtype
Commercial
Amenities
Corner Lot
Building Details
Year Built
1956
Listing Agency:
COMPASS
(704) 234-7880
Listed By:
CHRISTINA CHUBACHUK · License #298890
Source:
Corcoran
Added: Mar 28
Changed: Aug 18
Last Checked: Aug 18 at 5:17AM
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 COMPASS
Investment Insights
Based on property information with market context.
This approximately 2,398 sq ft property is positioned along a main road, offering excellent exposure and convenient access to Interstate 85. The building is zoned General Commercial (GC), accommodating a wide range of business possibilities for both owner-users and investors. The flexible layout is suited for professional office use, medical or wellness services, retail, or personal service businesses. Permitted uses include general or professional offices, medical or dental offices or clinics, restaurants or cafés, retail or specialty shops, personal services such as salons or fitness studios, childcare, educational, or community-focused spaces, pet care or veterinary services, and bed and breakfast or short-term rentals. The surrounding area features established businesses, strong traffic, and continued growth, making it a strategic location. The property offers strong visibility, convenient accessibility, and versatile zoning, presenting an opportunity to establish a business in a thriving commercial corridor.
Key Highlights
- Excellent exposure on a main road with easy access to Interstate 85.
- General Commercial (GC) zoning allows for a wide range of business possibilities.
- Flexible ±2,398 sq ft layout adaptable for various uses (office, medical, retail, etc.).
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
$42,056
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
8.41%
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%
$841,120
$841.1K
Cap Rate 7%
$600,800
$600.8K
Cap Rate 9%
$467,289
$467.3K
Market Conditions
NOI Build-Up for 2,398 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
$62.4K $26.04/SF
− Vacancy
−$6.4K −$2.66/SF
EGI
$56.1K $23.38/SF
− OpEx
−$14.0K −$5.85/SF
NOI
$42.1K $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%
$841,120
Cap Rate 7%
$600,800
Cap Rate 9%
$467,289
Alternative Uses
Best Use
Office B
$600.8K
$525.7K – $700.9K
NOI $42,056 @ 7.0% cap · market cap 8.41%
Second Best
Retail
$420.6K
$368.0K – $490.7K
NOI $29,439 @ 7.0% cap · market cap 5.89%
Theoretical Best
Office A
$754.8K
$660.4K – $880.6K
NOI $52,833 @ 7.0% cap · market cap 10.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
353
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
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Frequently Asked Questions
What type of property is this?
Office units - 2,398 sq ft commercial property with flexible zoning.
Where is this office units located?
The property is located at 2108 S Cannon Boulevard Kannapolis, NC.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Excellent exposure on a main road with easy access to Interstate 85.; General Commercial (GC) zoning allows for a wide range of business possibilities.; Flexible ±2,398 sq ft layout adaptable for various uses (office, medical, retail, etc.).
