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Property profile & analytics
OFF-MARKET
Estimated value
$6,540,000
Grocery and convenience stores
1351 Cannon Blvd Kannapolis, NC 28083-6232
Entity Owned
6-yr Hold
Free & Clear
Property ID
US53-1940745
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
43,607 SF
Lot
14.75 ac (642,510 SF)
Zoning code
GC
APN
5623 02 8056
UPID
US53-1940745
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
-
Coinstar Bank Credit Union
-
Planet Fitness Spa & Massage Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$8.24M
Comparable Approach
Comparable
$5.15M
Blend (final)
Blend
$6.54M
Owner & transaction history
Kannapolis Land INC · 6 yrs held
Kannapolis Land INC
since 2019
2 recorded transactions
Zoning & alternative use
GC · Kannapolis, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$9.6M
+181.0%
Auto repair, garage
$6.3M
+82.9%
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 Kannapolis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Kannapolis 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$8,920,000
6.5%
$8,235,000
7%
$7,650,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$9,640,000
Change: +181% · Conversion: Difficult
AUTO REPAIR, GARAGE
$6,275,000
Change: +83% · Conversion: Difficult
Blend value · Realmo final
$6.54M
Range $5.89M – $7.19M · ±10%
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
$150 / 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
$91,637
Tax year 2024
Assessed value
$8,070,200
Assessed 2024
Previous assessed
$6,388,380
+26.3% YoY
Effective rate
1.14%
On assessed value
Assessed land
$5,566,650
Assessed improvement
$2,503,550
Land market value
$5,566,650
Improvement market value
$2,503,550
Total market value
$8,070,200
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Cooling
AC.PACKAGE
Buildings
3
Stories
1
Bathrooms
20
Total area
43,607 SF
Lot
14.75 ac (642,510 SF)
Zoning code
GC
APN
5623 02 8056
UPID
US53-1940745
Jurisdiction
CABARRUS
Zoning & alternative use
GC · Kannapolis, NC
Zoning GC · permitted uses
GC · Kannapolis, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Kannapolis. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING
Est. value
$9.6M
AUTO REPAIR, GARAGE
Est. value
$6.3M
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Buildings
3
Bathrooms
20
Lot
14.75 ac
Current owner
From public records · entity-resolved
Kannapolis Land INC
Entity
Free & Clear · 6 yrs held
Mailing address
PO BOX 1177, GREENVILLE, SC 29602-1177
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 12, 2019
—
Kannapolis Land INC
Normandy Group INC
Quit Claim Deed
related
—
—
—
Kannapolis Land INC
—
Deed Of Trust
related
$6,750,000 · Miscellaneous Ins Co
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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