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Property profile & analytics
OFF-MARKET
Estimated value
$42,000,000
Office Spaces
1000 Progress Pl Concord, NC 28025-2449
Entity Owned
1-yr Hold
Free & Clear
Property ID
US53-1544485
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2001
Construction
STEEL FRAME
Total area
122,182 SF
Lot
16.7 ac (727,452 SF)
Zoning code
C-2
APN
5622 42 5129
UPID
US53-1544485
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
ACN Telecommunications Service
-
Southside Cuts & Suds Home Inspector
-
Team Revolution Global Business Administration Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$42.00M
CAP Approach
CAP
$26.59M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$42.00M
Owner & transaction history
Cabarrus County · 1 yrs held
Cabarrus County
since 2024
Last sale
$42.0M
7 recorded transactions
Zoning & alternative use
C-2 · Concord, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$60.6M
+285.5%
Restaurant
$38.4M
+144.3%
Medical building
$27.0M
+71.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Concord submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Concord submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$42,000,000
ML approach
$42,000,000
CAP Approach
CAP Return
Estimation
6%
$28,805,000
6.5%
$26,590,000
7%
$24,690,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$60,630,000
Change: +286% · Conversion: Moderate
RESTAURANT
$38,420,000
Change: +144% · Conversion: Difficult
MEDICAL BUILDING
$27,015,000
Change: +72% · Conversion: Easy
Blend value · Realmo final
$42.00M
Range $37.80M – $46.20M · ±10% · vs last sale $42.00M (Oct 11 2024)
Last sale anchor
$42.00M
Oct 11 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$344 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$228,750
Tax year 2024
Assessed value
$22,966,840
Assessed 2024
Previous assessed
$22,966,840
+0.0% YoY
Effective rate
1.00%
On assessed value
Assessed land
$5,040,700
Assessed improvement
$17,926,140
Land market value
$5,040,700
Improvement market value
$17,926,140
Total market value
$22,966,840
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
2001
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
AC.PACKAGE
Buildings
3
Stories
3
Bathrooms
24
Total area
122,182 SF
Lot
16.7 ac (727,452 SF)
Zoning code
C-2
APN
5622 42 5129
UPID
US53-1544485
Jurisdiction
CABARRUS
Zoning & alternative use
C-2 · Concord, NC
Zoning C-2 · permitted uses
C-2 · Concord, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Concord. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS)
Est. value
$60.6M
RESTAURANT
Est. value
$38.4M
MEDICAL BUILDING
Est. value
$27.0M
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2001
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
3
Bathrooms
24
Lot
16.7 ac
Current owner
From public records · entity-resolved
Cabarrus County
Entity
Free & Clear · 1 yrs held
Mailing address
1000 PO BOX 707TH PL, CONCORD, NC 28026-0707
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 11, 2024
$42,000,000
Cabarrus County
Progress Place Capital Partners LLC
Special Warranty Deed
—
Oct 11, 2024
—
Cabarrus County
Progress Place Capital Partners LLC
Deed
—
Dec 30, 2019
—
Progress Place Cap Ptrs LLC
—
Deed
related
$20,000 · Bbva USA
Nov 7, 2017
—
Progress Place Cap Ptrs LLC
—
Deed
related
$20,000,000 · Compass Bk
Sep 21, 2017
—
Progress Place Cap Ptrs LLC
—
Grant Deed
related
$165,000,000 · Fifth Third Bk
Feb 29, 2008
$13,920,000
Progress Place Capital Partners LLC
Lkn Communications INC
Special Warranty Deed
$14,382,000 · Wachovia Bank NA
Jan 18, 2008
—
Lkn Communications INC
Progress Place Realty Holding
Quit Claim Deed
related
—
Jan 18, 2008
$13,920,000
Lkn Communications INC
Windstream Concord Telephone I
Grant Deed
—
—
—
Progress Place Cap Ptrs LLC
—
Loan Modification
related
$20,000 · Bbva USA
—
—
Progress Place Cap Ptrs LLC
—
Deed Of Trust
related
—
—
—
Progress Place Cap Ptrs LLC
—
Deed Of Trust
related
$20,000,000 · Compass Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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