Property summary
This exceptional 1.19-acre commercial property in Concord, NC, presents a unique redevelopment opportunity. Located at 122 Cabarrus Avenue E, the site boasts a prime downtown location with excellent walkability and access to major transportation arteries including Highway 3, Interstate 85, Highway 29, and Highway 49. Currently featuring a 1384 square foot building (formerly a funeral home) and a parking lot, the property is zoned City Center, allowing for mixed-use and high-density development. This vibrant area is experiencing significant revitalization, with over $200 million in recent public and private investments. The high-growth potential is further enhanced by the property's eligibility for mixed-use zoning. The existing building is sold "as is." Prospective buyers should be aware that the City of Concord operates under sewer allocation guidelines, and an application may be required. It is the buyer's responsibility to verify all zoning regulations and obtain any necessary permits. This presents a compelling investment opportunity for developers seeking to capitalize on Concord's burgeoning downtown scene and create a thriving commercial or multi-family project. The asking price is $550,000.
Property profile
VerifiedCap rate & NOI
Location
Value estimations
Owner & transaction history
Zoning & alternative use
The CC District is established to provide concentrated downtown retail, service, office and mixed uses (including residential uses) in the existing central business districts. Shopping centers are permitted, but urban de…
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
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Value estimation
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from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Price sensitivity
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Property tax & assessments
Tax year 2024Property description
Physical attributes from public recordsZoning & alternative use
CC · Concord, NCThe CC District is established to provide concentrated downtown retail, service, office and mixed uses (including residential uses) in the existing central business districts. Shopping centers are permitted, but urban de…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
The CC District is established to provide concentrated downtown retail, service, office and mixed uses (including residential uses) in the existing central business districts. Shopping centers are permitted, but urban de…
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for CC in Concord, NC.
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