Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Kannapolis Land in East Village Title is generated by Realmo AI

    704 Gem Street, Kannapolis, NC 28083

    View on Map
    Claim this Listing
    For Sale
    $35,000

    LAND - Kannapolis, NC

    Lot size:
    0.13 Acres
    Added:
    Jun 30, 2025
    Days on Market:
    339
    Last Refresh:
    Jun 3 at 7:06 am

    Property Features for 704 Gem Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    5613-97-8359-0000
    Lot size
    0.13 Acres

    Taxes and HOA fees

    Tax Description
    LTS 17-18 EAST VILLAGE 1.00LT

    We can help!

    Listing Contact
    Eliza dos Santos

    Listing agent Eliza dos Santos

    Listing office Carolina Homes Connection, LLC 4379 Charlotte Hwy, Lake Wylie, NC

    Listing date Jun 30, 2025

    MLS# 4276620 Listing URL

    Copyright © 2026 Canopy MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Rare 0.13‑acre lot in desirable East Village neighborhood.
    • Ideal terrain: gently sloping and partially cleared, suitable for creative floor plan with walk‑out potential.
    • Proximity to downtown Kannapolis, Research Campus, shopping, and dining.
    • Quick access to I‑85 for commuters.
    • Opportunity to build a dream home or investment property.
    • Location coordinates provided for easy identification.

    Overview

    This 0.13-acre lot is located in the East Village neighborhood of Kannapolis. The parcel is gently sloping and partially cleared, offering terrain suitable for various floor plans, including those with walk-out potential. The property is near downtown Kannapolis, the Research Campus, shopping, and dining options. It also provides quick access to I-85 for commuters. The site is suitable for building a home or investment property.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Kannapolis
    County
    Cabarrus
    State
    North Carolina
    Longitude
    -80.613081
    Latitude
    35.490634

    Nearby Similar for Sale

    • $479,000

      Kannapolis Commercial Space For Sale

      Updated commercial space with high visibility and flexible layout.
      2801 S Cannon Boulevard, Kannapolis, NC 28083
      View Details
    • $375,000
      950 SF

      Income-Producing Duplex in Growing Kannapolis

      Well-maintained duplex near downtown Kannapolis, offering income potential.
      1106 Lane Street, Kannapolis, NC 28083
      View Details
    • $225,000

      Corner Lot in Kannapolis, NC

      Highly visible 0.878-acre corner lot in growing Kannapolis market.
      N Main Street, Kannapolis, NC 28081
      View Details
    • $375,000

      Cannon Blvd Retail Opportunity

      High-visibility location on Cannon Blvd with ample parking.
      1201 N Cannon Boulevard, Kannapolis, NC 28083
      View Details
    • $1,000,000

      Kannapolis Land For Sale

      Highway-adjacent land near revitalized downtown Kannapolis, North Carolina.
      1599 Bethpage Road, Kannapolis, NC 28081
      View Details
    • $685,000

      Kannapolis Commercial Property For Sale

      High-traffic location near I-85 with general commercial zoning.
      2960 Dale Earnhardt Boulevard, Kannapolis, NC 28083
      View Details
    • $70,000

      Kannapolis Vacant Commercial Lot

      Commercially zoned 0.32-acre lot with future potential.
      2241 Knowles Street, Kannapolis, NC 28083
      View Details
    • $180,000

      Kannapolis Home with Commercial Potential

      Home in Conditional Zoning District, ideal for commercial or residential.
      2001 Lane Street, Kannapolis, NC 28083
      View Details
    • $150,000

      Commercial Land in Kannapolis, NC

      Commercial investment opportunity in a high-traffic area of Kannapolis.
      Jackson Park Road, Kannapolis, NC 28083
      View Details
    • $1,375,000

      Kannapolis Multifamily Investment Opportunity

      Portfolio of 8 units with guaranteed rents in Kannapolis.
      220 Basin Avenue, Kannapolis, NC 28083
      View Details
    • $669,500

      Kannapolis Land For Sale

      Large lot near revitalized Kannapolis, close to amenities.
      1416 W A Street, Kannapolis, NC 28081
      View Details
    • $375,000

      Kannapolis Land Investment Opportunity

      Rare 5-acre infill opportunity in emerging Kannapolis growth corridor.
      2080 S Main Street, Kannapolis, NC 28081
      View Details

    FAQs

    What type of property is this?
    Land - 0.13-acre lot in East Village, Kannapolis, near downtown.
    Where is this land located?
    The property is located at 704 Gem Street Kannapolis, NC.
    What is the asking price?
    The asking price for this property is $35,000.
    What are key features of this property?
    This property features: Rare 0.13‑acre lot in desirable East Village neighborhood.; Ideal terrain: gently sloping and partially cleared, suitable for creative floor plan with walk‑out potential.; Proximity to downtown Kannapolis, Research Campus, shopping, and dining.
    (561) 862-8655
    We can help!
    Listing Contact
    Eliza dos Santos
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    704 Gem Street, Kannapolis, NC 28083
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!