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Property profile & analytics
FOR SALE
Garden apartment buildings
1422 Nottingham Rd Kannapolis, NC 28081
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US53-1147613
For Sale
1 / 9
$3,625,000
1422 Nottingham Rd, Kannapolis, NC 28081
View Listing →
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1971
Construction
WOOD
Total area
6,120 SF
Lot
1.88 ac (81,900 SF)
Zoning code
R4
APN
5612 09 8924
UPID
US53-1147613
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
AI Approach
AI
$2.10M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.10M
Blend (final)
Blend
$2.28M
Owner & transaction history
Sherwood Kannapolis LLC · 3 yrs held
Sherwood Kannapolis LLC
since 2022
Last sale
$2.6M
6 recorded transactions
Zoning & alternative use
R4 · Kannapolis, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$2,050,000
ML approach
$2,100,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.28M
Range $2.05M – $2.50M · ±10% · vs last sale $2.57M (Nov 3 2022)
Last sale anchor
$2.57M
Nov 3 2022
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
$372 / 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
$19,112
Tax year 2024
Assessed value
$1,683,130
Assessed 2024
Previous assessed
$666,010
+152.7% YoY
Effective rate
1.14%
On assessed value
Assessed land
$180,000
Assessed improvement
$1,503,130
Land market value
$180,000
Improvement market value
$1,503,130
Total market value
$1,683,130
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
For Sale
Year built
1971
Construction
WOOD
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
3
Stories
2
Units
6
Bathrooms
1
Total area
6,120 SF
Lot
1.88 ac (81,900 SF)
Zoning code
R4
APN
5612 09 8924
UPID
US53-1147613
Jurisdiction
CABARRUS
Zoning & alternative use
R4 · Kannapolis, NC
Zoning R4 · permitted uses
R4 · 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.
Building & site characteristics
From public records
Year built
1971
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
3
Units
6
Bathrooms
1
Lot
1.88 ac
Current owner
From public records · entity-resolved
Sherwood Kannapolis LLC
Entity
Mailing address
369 WASHINGTON AVE, PHOENIXVILLE, PA 19460-3764
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 3, 2022
$2,565,000
Sherwood Kannapolis LLC
Most Investments Stoker Terrace LLC
Special Warranty Deed
$2,100,000 · Most Investments Stoker Terrace LLC
May 11, 2020
$1,020,000
Most Invs Stoker Ter LLC
Holbrooks Family Trust
Grant Deed
$765,000 · United Bk
Feb 5, 2020
—
Gene S Holbrooks
—
Deed
related
$621,528 · Pinnacle Bk
May 18, 2009
—
Gene S Holbrooks
Holbrooks,gene S & Ann M
Quit Claim Deed
related
—
—
—
Gene S Holbrooks
—
Deed Of Trust
related
$845,000 · Bank Of Nc
—
—
Gene S Holbrooks
—
Loan Modification
related
$621,528 · Pinnacle Bk
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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