Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    50 Union St N Concord, NC 28025

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Former bank building with flexible space and ample parking.

    Property size:
    13,079 SF
    Lot size:
    0.95 Acres

    Property Features for 50 Union St N

    General Information

    Size
    13,079 SF
    Lot size
    0.95 Acres

    We can help!

    Listing Contact
    Katherine Southard
    Source: Moodyscre

    Listing Agency: CBRE | Charlotte Listing Agent: Katherine Southard

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

    Learn more

    Property Insight Report

    Overview

    Landmark Building in Downtown Concord

    This 8,800 square foot building, formerly a central bank, is located steps from downtown Concord. The two-story building is served by an elevator and combines character features with modern functionality. It features presence on Union Street, Church Street, and Killarney Avenue, offering visibility, access, and signage. Nearby destinations include the Arts Council, The District Exchange, Novi apartments, city and county offices, and the district courthouse. The building contains flexible spaces suitable for private offices, collaboration areas, and secure rooms. On-site parking is available. The property is suitable for financial or professional offices, boutique medical practices, creative firms, or a destination restaurant. The owner prefers to lease the building as a whole but will consider subdividing the upper and lower floors depending on use. The owner will not entertain restaurant concepts similar to those already operating in the downtown area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Wells Fargo Bank Bank Wells Fargo Home ... Loan Service Wells Fargo ATM Atm Mark Lyndon Yaguda ... Loan Service Wells Fargo Advisors Financial Advisor

    Suggested Use

    Real Estate Agency Restaurant Law Firm Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Concord
    County
    Cabarrus
    State
    North Carolina
    Longitude
    -80.582221
    Latitude
    35.4119718

    Nearby Similar for Sale

    • New
      $325,000
      0.25 Acres

      Commercial Space in Concord, NC

      Commercial space suitable for retail or service businesses.
      556 Newell St NW, Concord, NC 28025
      View Details
    • $650,000
      0.63 Acres

      Commercial Building in High-Traffic Area

      Stand-alone commercial building in Concord's high-traffic area, ideal for investors.
      225 SE Branchview Dr SE, Concord, NC 28025
      View Details
    • $1,100,000
      0.52 Acres

      Retail/Warehouse Space on Hwy 73

      11,488 SF retail/warehouse on 0.52 acres in Concord, NC.
      487 Corban Ave SE, Concord, NC 28025
      View Details
    • $699,000
      Pending

      Concord Multifamily Investment Opportunity

      Seven-unit multifamily property near downtown Concord, North Carolina.
      161 Union St S, Concord, NC 28025
      View Details
    • $325,000
      0.18 Acres

      Turnkey Duplex in Downtown Concord

      Remodeled duplex in downtown Concord, ideal for investors or owner-occupants.
      266 Moore Dr NW, Concord, NC 28025
      View Details
    • $499,999
      0.28 Acres

      Triplex Investment Near Downtown Concord

      Triplex with strong rental history near downtown Concord's amenities.
      374 Union St S, Concord, NC 28025
      View Details
    • $599,000
      1,729 SF

      Remodeled Auto Garage/Warehouse in Concord

      Turnkey auto garage/warehouse in high-traffic Concord location.
      398 Old Charlotte Rd SW, Concord, NC 28027
      View Details
    • $325,000
      1,256 SF

      Commercial Space Near Church Street

      Retail space suitable for salon or spa-related businesses.
      556 Newell St NW, Concord, NC 28025
      View Details
    • Contact for pricing

      Concord Mills Retail Opportunity

      Former bank branch in a high-traffic retail hub.
      8541 Concord Mills Blvd, Concord, NC 28027
      View Details
    • Contact for pricing

      Bank Branch with Drive Thru

      3,818 SF bank branch on 1.3 acres for sale.
      276 Concord Pkwy South, Concord, NC 28025
      View Details
    • Contact for pricing
      5,300 SF

      Established Entertainment Space For Sale

      Retail investment opportunity in a top North Carolina tourist destination.
      7840 Lyles Ln NW, Concord, NC 28027
      View Details
    • Contact for pricing

      Two Buildings Near Downtown Concord

      Two adjacent commercial buildings suitable for office, medical, or service use.
      729 Church St N, Concord, NC 28025
      View Details

    FAQs

    What type of property is this?
    Bank - Former bank building with flexible space and ample parking.
    Where is this bank located?
    The property is located at 50 Union St N Concord, NC.
    What are key features of this property?
    This property features: - Landmark building in a prime downtown Concord location, formerly a central bank.; - 8,800 +/- SF spanning two floors with elevator access.; - Three-street presence (Union Street, Church Street, and Killarney Avenue) offering superb visibility and access.
    (704) 661-3165 Call to check price and availability
    Request Owner's contact information
    50 Union St N Concord, NC 28025
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    50 Union St N
    Concord, NC 28025
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    50 Union St N Concord, NC 28025
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Katherine Southard
    Real Estate License ID: NC 313498
    (704) 661-3165 (704) 376-7979
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!