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    1215 Old Concord Rd Salisbury, NC 28146

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    For Sale
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    I-85 Accessible Multifamily Development Site

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    397
    This exceptional 8.14-acre commercial land parcel, located at 1215 Old Concord Rd in Salisbury, NC (APN 069-006), presents a unique opportunity for multifamily or townhome development. The property boasts CMX zoning, allowing for up to approximately 1200 units, making it ideal for both market-rate and affordable housing projects. Its strategic location directly adjacent to I-85 ensures excellent visibility and accessibility, providing easy connectivity to the greater Charlotte MSA and the Piedmont Triad region. Water and sewer are readily available. The site's designation as a Qualified Census Tract (QCT) and its location within an Opportunity Zone offer significant development incentives, including the potential for 4% tax-exempt bonds through the North Carolina Housing Finance Agency (NCHFA). Surrounded by retail amenities, job opportunities, and higher education institutions, this parcel offers a highly desirable location for developers seeking a prime site for a large-scale residential project. The property's convenient access to major thoroughfares and its advantageous zoning regulations combine to create a compelling investment opportunity. This is a rare chance to acquire a substantial tract of land with significant development potential in a rapidly growing area.

    Property Features for 1215 Old Concord Rd

    General Information

    Property type
    Land
    Lot Size
    354,578 SF

    HighLights

    • 8.14‑acre commercial land parcel in Salisbury, NC.
    • CMX zoning allows for up to approximately 1200 units.
    • Located in a Qualified Census Tract (QCT) and Opportunity Zone.
    • Direct I‑85 visibility and access; excellent connectivity to Charlotte MSA and Piedmont Triad.
    • Water and sewer availability.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Salisbury
    County
    Rowan
    State
    North Carolina
    Longitude
    -80.4743452
    Latitude
    35.6445028

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    FAQs

    What type of property is this?
    Land - I-85 Accessible Multifamily Development Site
    Where is this land located?
    The property is located at 1215 Old Concord Rd Salisbury, NC.
    What are key features of this property?
    This property features: 8.14-acre commercial land parcel in Salisbury, NC.; CMX zoning allows for up to approximately 1200 units.; Located in a Qualified Census Tract (QCT) and Opportunity Zone.
    Request Owner's contact information
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    Realmo Value Estimation

    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.

    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.

    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
    1215 Old Concord Rd Salisbury, NC 28146
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