Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    1615 Main St Kannapolis, NC 28081-5921

    • Warehouses
    • 3,000 SF
    • 0.55 lot acres
    OFF-MARKET
    Value Estimations
    $270,000
    Show details
    Cap Rate Potential
    9.7%
    Warehouses
    Location Intelligence
    Property ID
    US53-1801915
    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.

    Current Use by Public Records

    • Mr. Storage Kannapolis / Automobile Storage Facility / Boat Storage Facility

    Property Details for 1615 Main St

    Year built
    1995
    Construction
    STEEL FRAME
    Lot size
    0.55 lot acres
    Property size
    3,000 SF
    Zone code
    GC
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    5613 60 8222
    APU
    5613608222

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $265,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $425,000
      6.5%
      $395,000
      7%
      $365,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $300,000
      Market price range: $123k - $300k
      AI Estimate
      $212,000
      Market price range: $91.8k - $212k

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

    Location Insight

    • Map
    • Local Demand
    City
    Kannapolis
    County
    Cabarrus
    State
    North Carolina
    Longitude
    -80.6229
    Latitude
    35.4708
    CBSA code
    16740
    CBSA name
    CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $4,519
    $108,380
    $289,560
    $397,940
    -
    $108,380
    $289,560
    $397,940

    Comparable in this City

    • Value Estimation
      $165,000
      5,446 SF

      1221 Lee Ave

      WAREHOUSE, STORAGE • 5,446 SF
      1221 Lee Ave, Kannapolis, NC 28081-5411
      View Details
    • Value Estimation
      $280,000
      20,000 SF

      1230 Main St

      WAREHOUSE, STORAGE • 20,000 SF
      1230 Main St, Kannapolis, NC 28081-5438
      View Details
    • Value Estimation
      $270,000
      10,228 SF

      1509 C St

      WAREHOUSE, STORAGE • 10,228 SF
      1509 C St, Kannapolis, NC 28081-9388
      View Details
    • Value Estimation
      $270,000
      8,586 SF

      1121 Main St

      WAREHOUSE, STORAGE • 8,586 SF
      1121 Main St, Kannapolis, NC 28081-2256
      View Details
    • Value Estimation
      $205,000
      5,315 SF

      609 Main St

      WAREHOUSE, STORAGE • 5,315 SF
      609 Main St, Kannapolis, NC 28081-4913
      View Details
    • Value Estimation
      $235,000
      1,680 SF

      154 Franklin Ave

      WAREHOUSE, STORAGE • 1,680 SF
      154 Franklin Ave, Kannapolis, NC 28081-3380
      View Details

    Similar Nearby for Sale

    • $350,000
      0.32 Acres

      Kannapolis Commercial Land Opportunity

      0.32-Acre Lot, $350,000
      311 Main St, Kannapolis, NC 28081
      View Details
    • $640,000
      1.45 Acres

      Kannapolis Commercial Building - 1.45 Acres

      Versatile Warehouse & Showroom Space
      1600 Main St, Kannapolis, NC 28081
      View Details
    • $2,894,738

      NNN Ground Lease Retail Property

      New 20-year NNN ground lease in high-growth Charlotte MSA.
      5040 Dogwood Blvd, Kannapolis, NC 28081
      View Details
    • $539,900
      0.22 Acres

      New Construction Duplex Investment Opportunity

      New construction duplex in Kannapolis, designed for cash flow.
      Arden Ave, Kannapolis, NC 28081
      View Details
    • $4,595,000
      109 SF

      109-Acre Residential Development Opportunity

      109-acre residential development property in a high-growth Kannapolis area.
      6304 Mooresville Rd, Kannapolis, NC 28081
      View Details
    • $499,900
      14.18 Acres

      Kannapolis Land for Residential Development

      14 acres near downtown Kannapolis, ideal for residential development.
      4648 Nob Hill Dr, Kannapolis, NC 28081
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      4,050 SF

      Kannapolis Parkway Commercial Building

      4,050 SF commercial building with office and warehouse space.
      3585 Kannapolis Pkwy, Kannapolis, NC 28081
      View Details
    • Contact for pricing
      17,500 SF

      Kannapolis Industrial Space For Lease

      Light manufacturing space, flexible layouts.
      1408 Glenn Ave, Kannapolis, NC 28081
      View Details
    • $4,450 /Mo
      19,166 SF

      Retail Space on Main Street

      2,427 SF retail space in revitalized downtown Kannapolis.
      832 S Main St, Kannapolis, NC 28081
      View Details
    • $22 SF/Yr
      3,640 SF

      Office Building For Lease

      Office building with ample parking, convenient to retail and restaurants.
      234 Dale Earnhardt Blvd, Kannapolis, NC 28081
      View Details
    • Contact for pricing

      Mixed-Use Development in Kannapolis, NC

      Mixed-use development with shopping, housing, and neighborhood amenities.
      Kannapolis, NC 28081
      View Details
    • Contact for pricing

      Retail Space in Kannapolis Village

      Retail space available in Harris Teeter-anchored Kannapolis retail village.
      510 N Main St, Kannapolis, NC 28081
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1615 Main St
    Kannapolis, NC 28081-5921
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.