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    1345 Sharon St Kannapolis, NC 28083
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    1345 Sharon St, Kannapolis, NC 28083

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    • Commercial land
    For Sale
    $794,900
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    Kannapolis Redevelopment Opportunity For Sale
    $794,900
    0.53 Acres

    Kannapolis Redevelopment Opportunity

    High-visibility commercial land with redevelopment potential in a thriving market.

    1345 Sharon St, Kannapolis, NC 28083
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    Property ID
    US53-2165825
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial land

    Property Details for 1345 Sharon St

    Property type
    Commercial land
    Property subtype
    Commercial real estate

    Description

    Owners are open to subdividing the property. • Introducing a Prime Redevelopment Opportunity in Kannapolis, NC. • 1345 & 1393 Sharon St., Kannapolis, NC 28083 This .53 +/- acre property boasts high visibility and is strategically located on a flag lot at the intersection of Dale Earnhardt Blvd. and South Cannon Blvd. With the potential for GC commercial zoning and currently zoned R8, this property provides endless possibilities for retail, office, and medical use. Situated along the highly trafficked Dale Earnhardt Blvd with 19,000 cars passing by daily, and visible from South Cannon Blvd (Hwy 29), with a daily traffic count of 23,500 cars, this location ensures maximum exposure for any business. In addition to its prime location, this property offers a strong demographic profile. Within a 5-mile radius, the population exceeds 92,000, with a projected growth to over 99,000 by 2028. Don't miss this incredible opportunity to establish your presence in this thriving market. Contact Steven Tice, CCIM, at (704) 794-2294 today to learn more about 1345 & 1393 Sharon St. While we are selling the two parcels with the assumption that both residential dwellings will be demolished, the buyer will have the option of keeping one or both dwellings and having the potential to utilize them as they see fit and as zoning allows.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Kannapolis
    County
    Cabarrus
    State
    North Carolina
    Longitude
    -80.6091045
    Latitude
    35.4750796

    Comparable in this City

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      Commercial Land on Corner Lot

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      Kannapolis Redevelopment Opportunity

      0.53 acre property with high visibility and traffic counts.
      1345 Sharon St, Kannapolis, NC 28083
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      Kannapolis Land Near I-85

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      Prime Commercial Land in Kannapolis

      0.8-acre commercial property on S Cannon Blvd, Kannapolis, NC.
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      Kannapolis Land Parcel For Sale

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      Commercial Land on US Hwy 29

      1.27 acre commercial land parcel for sale.
      653 E 14Th St, Kannapolis, NC 28083
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      Commercial Land on Corner Lot

      Commercial land with redevelopment potential at a busy intersection.
      2306 S Cannon Blvd, Kannapolis, NC 28083
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      Kannapolis Redevelopment Opportunity

      0.53 acre property with high visibility and traffic counts.
      1345 Sharon St, Kannapolis, NC 28083
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      Kannapolis Land Near I-85

      Land suitable for multifamily, office, or medical development.
      1860 Concord Lake Rd, Kannapolis, NC 28083
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      Prime Commercial Land in Kannapolis

      0.8-acre commercial property on S Cannon Blvd, Kannapolis, NC.
      511 S Cannon Blvd, Kannapolis, NC 28083
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      Kannapolis Land Parcel For Sale

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      Industrial Outdoor Storage Space Available

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      College Station Shopping Center Opportunity

      Space available in thriving Kannapolis shopping center with high traffic.
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      Retail Space in Kannapolis Village

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      Kannapolis Commercial Property For Rent

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      Retail Space in Kannapolis, NC

      Retail space available for lease in Kannapolis, North Carolina.
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    Kannapolis, NC 28083
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    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.

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