Medical Office with Exam-Room
New
For Sale
Contact for pricing
2301 S Cannon Blvd, Kannapolis, NC 28083
The corner-site layout includes a dedicated imaging room, reception, private offices and staff break space.
Property Size2,213 SF
Price / SF$228.20
Days on Market5
Property Features for 2301 S Cannon Blvd
General Information
Standard status
Active
Size
2,213 SF
Property subtype
OFFICE
Additional Details
Road Access
Yes
Building Details
Year Built
1940
Year Renovated
2000
Abandoned
No
Listing Agency:
Northstate Property Advisors, Inc.
(704) 782-7777
Listed By:
Catherine H. Davis
(704) 488-0075
Source:
Moodyscre
Added: Sep 23
Changed: Sep 26
Last Checked: Sep 26 at 2:46PM
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 Northstate Property Advisors, Inc.
Investment Insights
Based on property information with market context.
Configured for medical office use, the building has plumbing throughout for exam rooms, along with a separate X-ray room, reception area, offices and a break area. The property was built in 1940, with an addition and updates completed in 2000.
The site is at a hard corner on S Cannon Blvd in Kannapolis, with convenient access and on-site parking. Mature landscaping surrounds the property.
The site is at a hard corner on S Cannon Blvd in Kannapolis, with convenient access and on-site parking. Mature landscaping surrounds the property.
Key Highlights
- Plumbing throughout supports exam‑room configuration
- Separate X‑ray room, reception, offices and break area
- Built in 1940; addition and updates completed in 2000
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
$38,811
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
7.69%
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%
$776,220
$776.2K
Cap Rate 7%
$554,443
$554.4K
Cap Rate 9%
$431,233
$431.2K
Market Conditions
NOI Build-Up for 2,213 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
$57.6K $26.04/SF
− Vacancy
−$5.9K −$2.66/SF
EGI
$51.7K $23.38/SF
− OpEx
−$12.9K −$5.85/SF
NOI
$38.8K $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%
$776,220
Cap Rate 7%
$554,443
Cap Rate 9%
$431,233
Alternative Uses
Best Use
Office B
$554.4K
$485.1K – $646.9K
NOI $38,811 @ 7.0% cap · market cap 7.69%
Second Best
Healthcare Medical
$440.3K
$385.3K – $513.7K
NOI $30,822 @ 7.0% cap · market cap 6.10%
Theoretical Best
Office A
$696.5K
$609.5K – $812.6K
NOI $48,757 @ 7.0% cap · market cap 9.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
297
Businesses Nearby
Well-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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - The corner-site layout includes a dedicated imaging room, reception, private offices and staff break space.
Where is this medical office space located?
The property is located at 2301 S Cannon Blvd Kannapolis, NC.
What is the asking price?
The asking price for this property is $505,000.
What are key features of this property?
This property features: Plumbing throughout supports exam‑room configuration; Separate X‑ray room, reception, offices and break area; Built in 1940; addition and updates completed in 2000
