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    OFF-MARKET
    Commercial real estate

    1215 Old Concord Rd, Salisbury, NC 28146

    8.14 ac lot
    Entity Owned 3-yr Hold
    Property ID
    US53-0837674
    Property summary
    AI-generated overview

    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 profile
    Verified
    Property type Commercial real estate
    Lot 8.14 ac (354,578 SF)
    APN 069-006
    UPID US53-0837674
    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
    Value estimations
    Realmo proprietary · 4 methods
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    CAP Approach CAP
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    Blend (final) Blend
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    Owner & transaction history
    Salisbury Ventures LLC · 3 yrs held
    Salisbury Ventures LLC
    since 2022
    2 recorded transactions
    2022
    $399,000
    2019
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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