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Property profile & analytics
OFF-MARKET
Estimated value
$630,000
Office Spaces
141 Ww Ave Kannapolis, NC 28081-4362
Entity Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-1684385
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1949
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,744 SF
Lot
0.73 ac (31,929 SF)
Zoning code
CC
APN
5613 69 2709
UPID
US53-1684385
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
-
Eat Cakes Bakery Bakery Specialty Food Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$540k
CAP Approach
CAP
$825k
Comparable Approach
Comparable
$495k
Blend (final)
Blend
$630k
Owner & transaction history
Krblock2 LLC · 5 yrs held
Krblock2 LLC
since 2021
3 recorded transactions
Zoning & alternative use
CC · Kannapolis, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$830,000
+137.0%
Auto repair, garage
$540,000
+54.3%
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
$540,000
CAP Approach
CAP Return
Estimation
6%
$895,000
6.5%
$825,000
7%
$770,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$830,000
Change: +137% · Conversion: Easy
AUTO REPAIR, GARAGE
$540,000
Change: +54% · Conversion: Difficult
Blend value · Realmo final
$630k
Range $567k – $693k · ±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
$168 / 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
$27,577
Tax year 2024
Assessed value
$2,428,630
Assessed 2024
Previous assessed
$2,428,630
+0.0% YoY
Effective rate
1.14%
On assessed value
Assessed land
$576,320
Assessed improvement
$1,852,310
Land market value
$576,320
Improvement market value
$1,852,310
Total market value
$2,428,630
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
1949
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Cooling
AC.PACKAGE
Buildings
4
Stories
1
Bathrooms
25
Total area
3,744 SF
Lot
0.73 ac (31,929 SF)
Zoning code
CC
APN
5613 69 2709
UPID
US53-1684385
Jurisdiction
CABARRUS
Zoning & alternative use
CC · Kannapolis, NC
Zoning CC · permitted uses
CC · 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
$830,000
AUTO REPAIR, GARAGE
Est. value
$540,000
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
1949
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Buildings
4
Bathrooms
25
Lot
0.73 ac
Current owner
From public records · entity-resolved
Krblock2 LLC
Entity
Free & Clear · 5 yrs held
Mailing address
1290 W EAU GALLIE BLVD, MELBOURNE, FL 32935-5341
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 28, 2021
—
Krblock2 LLC
Kannapolis Retail Venture 1 LLC
Special Warranty Deed
—
Sep 1, 2020
—
Kannapolis Retail Ventrue I LLC
City Of Kannapolis
Special Warranty Deed
$1,100,000 · City Of Kannapolis
Oct 1, 2015
$7,549,000
City Of Kannapolis
Atlantic American Props INC
Warranty Deed
—
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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