Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    475 Cannon Blvd Kannapolis, NC 28083
    Back to Search
    Property profile & analytics

    475 Cannon Blvd Kannapolis, NC 28083

    View on Map
    • Retail properties & Spaces
    • 66,317 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 475 Cannon Blvd

    Year built
    1976
    Property size
    66,317 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    This single-story, 66,317 square foot College Station Shopping Center, located at 475 N Cannon Blvd in Kannapolis, NC (28083), offers diverse leasing opportunities. Built in 1976 and renovated in 2000, the Class C property features 10 suites, with a minimum divisible space of 1,600 square feet and a maximum contiguous space of 1,600 square feet. Currently, 3,200 square feet are vacant. The property is zoned C-2 and enjoys high visibility along Hwy-29/N Cannon Blvd, benefiting from significant traffic flow. Its location within the thriving Kannapolis submarket of Charlotte provides access to a substantial consumer base exceeding 100,000 people, with an average household income over $71,000 within a 5-mile radius. The area is experiencing robust growth, with a projected population increase of 10.59% in the next five years. The center is situated near major national retailers including Atrium, Walmart, Chick-fil-A, and Lowe's, further enhancing its appeal and potential. The property is ideal for retail, office, or restaurant uses, accommodating various business needs within its flexible suite options. This established commercial area offers a prime location for businesses seeking exposure and growth within a dynamic and expanding market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Kannapolis
    County
    Cabarrus
    State
    North Carolina
    Longitude
    -80.6108
    Latitude
    35.5007

    Comparable in this City

    • Value Estimation by Request

      2881 Cannon Blvd

      Medical Office Space
      2881 Cannon Blvd, Kannapolis, NC 28083
      View Details
    • Value Estimation by Request
      630 SF

      811 Lakeview St

      Individual retail properties • 630 SF
      811 Lakeview St, Kannapolis, NC 28083
      View Details
    • Value Estimation by Request
      5,280 SF

      800 Cloverleaf Plz

      Restaurants • 5,280 SF
      800 Cloverleaf Plz, Kannapolis, NC 28083
      View Details
    • Value Estimation by Request
      1,411 SF

      Established Pizza Franchise For Sale- Seller Financing Available!

      Restaurants • 1,411 SF
      0 Established Pizza Franchise For Sale- Seller Financing Available!, Kannapolis, NC 28083
      View Details
    • Value Estimation by Request
      2,102 SF

      1843 Rdg Ave

      MEDICAL BUILDING • 2,102 SF
      1843 Rdg Ave, Kannapolis, NC 28083-6149
      View Details
    • Value Estimation
      $3,010,000
      9,588 SF

      614 Cannon Blvd

      MEDICAL BUILDING • 9,588 SF
      614 Cannon Blvd, Kannapolis, NC 28083-5240
      View Details

    Similar Nearby for Sale

    • $500,000
      2,398 SF

      Versatile Commercial Property For Sale

      2,398 sq ft commercial property with flexible zoning.
      2108 S Cannon Blvd, Kannapolis, NC 28083
      View Details
    • $155,000
      0.18 Acres

      Kannapolis Commercial Space For Sale

      Commercial space suitable for salon or office use in Kannapolis.
      811 Lakeview St, Kannapolis, NC 28083
      View Details
    • Contact for pricing
      1,920 SF

      Drive-Thru Retail Opportunity

      Retail property with drive-thru, value-add potential in high-growth area.
      1110 S Cannon Blvd, Kannapolis, NC 28083
      View Details
    • Contact for pricing
      1,348 SF

      Kannapolis Office Condo For Sale

      Mixed-use office condo near downtown Kannapolis with flexible space.
      1525 Dale Earnhardt Blvd, Kannapolis, NC 28083
      View Details
    • $180,000
      0.16 Acres

      Kannapolis Home with Commercial Potential

      Home in Conditional Zoning District, ideal for commercial or residential.
      2001 Lane St, Kannapolis, NC 28083
      View Details
    • $479,000
      0.46 Acres

      Kannapolis Commercial Space For Sale

      Updated commercial space with high visibility and flexible layout.
      2801 S Cannon Blvd, Kannapolis, NC 28083
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      College Station Shopping Center Opportunity

      Space available in thriving Kannapolis shopping center with high traffic.
      475 N Cannon Blvd, Kannapolis, NC 28083
      View Details
    • Contact for pricing

      Retail Space in Kannapolis, NC

      Retail space available for lease in Kannapolis, North Carolina.
      2115 N Cannon Blvd, Kannapolis, NC 28083
      View Details
    • Contact for pricing

      Retail Space in Kannapolis Village

      Retail space available in Harris Teeter-anchored Kannapolis retail village.
      510 N Main St, Kannapolis, NC 28083
      View Details
    • Contact for pricing

      Industrial Outdoor Storage Space Available

      Prime industrial outdoor storage space with easy I-85 access.
      230 Lockhart Rd, Kannapolis, NC 28083
      View Details
    • Contact for pricing
      1,002,240 SF

      Kannapolis Warehouse and Distribution Space

      Large distribution warehouse with ample parking and loading capabilities.
      & Old Beatty Frd Rd, Kannapolis, NC 28083
      View Details
    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.
    475 Cannon Blvd
    Kannapolis, NC 28083
    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
    475 Cannon Blvd, 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!