Commercial Property with C-2
381 McGill Avenue NW Concord, NC 28027
381 McGill Avenue NW, Concord, NC, 28027
$265,000
For Sale
$265,000
864 sq. ft. commercial property with flexible C-2 zoning and approximately 10 parking spaces on a busy corridor.
Property Size864 SF
Lot Size0.28 Acres
Price / SF$306.71
Days on Market40
Property Features for 381 McGill Avenue NW
General Information
- Standard status
- Active
- Size
- 864 SF
- Lot size
- 0.28 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1942
Listing agency
NEW BRANCH REAL ESTATE ADVISOR
(704) 786-8888
Listed by
RYAN KINNEY · License #295051
Source
Corcoran
Added: Jun 13 Updated: Jul 20 at 4:41PM Checked: Jul 21 at 6:01AM
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 NEW BRANCH REAL ESTATE ADVISOR
Investment Insights
Based on property information with market context.
Located at 381 McGill Ave NW, this for-sale commercial property totals 864 sq. ft. and is zoned commercial (C-2). The site offers approximately +/- 10 parking spaces and sits on about .28 acres. The property is presented as a flexible option within the City of Concord for commercial activity consistent with the C-2 zoning designation.
The offering is located near Gibson Mills and is described as being positioned in an established commercial corridor along McGill Avenue. Public remarks indicate approximately 12,500 daily traffic counts +/- and convenient access to Downtown Concord, Highway 29, and Interstate 85.
For buyers seeking a compact commercial site with C-2 flexibility, this property’s combination of small footprint, parking availability, and reported traffic exposure is a practical starting point for a range of uses permitted under C-2 zoning.
The offering is located near Gibson Mills and is described as being positioned in an established commercial corridor along McGill Avenue. Public remarks indicate approximately 12,500 daily traffic counts +/- and convenient access to Downtown Concord, Highway 29, and Interstate 85.
For buyers seeking a compact commercial site with C-2 flexibility, this property’s combination of small footprint, parking availability, and reported traffic exposure is a practical starting point for a range of uses permitted under C-2 zoning.
Key Highlights
- 864 SF commercial building (Year Built 1942) on McGill Avenue
- Zoned C‑2 commercial with flexible uses for retail, office, service, and other commercial needs
- Approximately +/-10 parking spaces
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $20.2k | $23.40 |
| − Vacancy | −$1.3k | −$1.52 |
| EGI | $18.9k | $21.88 |
| − OpEx | −$5.7k | −$6.56 |
| NOI | $13.2k | $15.32 |
864 SF · lease $23.40/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$189.0K
$165.4K – $220.5K
NOI $13,232 @ 7.0% cap · market cap 4.99%
Second Best
Office B
$162.4K
$142.1K – $189.4K
NOI $11,365 @ 7.0% cap · market cap 4.29%
Theoretical Best
Specialty Retail
$235.4K
$206.0K – $274.7K
NOI $16,481 @ 7.0% cap · market cap 6.22%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Lancaster Car Appraisals ...
Department Store
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FAQs
What type of property is this?
Retail space - 864 sq. ft. commercial property with flexible C-2 zoning and approximately 10 parking spaces on a busy corridor.
Where is this retail space located?
The property is located at 381 McGill Avenue NW Concord, NC.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: 864 SF commercial building (Year Built 1942) on McGill Avenue; Zoned C‑2 commercial with flexible uses for retail, office, service, and other commercial needs; Approximately +/-10 parking spaces
