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    2000 Ginnie Spgs Dr Kannapolis, NC 28081
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    Property profile & analytics

    2000 Ginnie Spgs Dr, Kannapolis, NC 28081

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    • Garden apartment buildings
    • 40,519 SF
    • 20.12 lot acres
    Off-Market
    Last Sale Aug 1, 2022
    $91,250,000
    Property ID
    US53-2426919
    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

    • Garden apartment buildings

    Property Details for 2000 Ginnie Spgs Dr

    Year built
    2010
    Construction
    WOOD
    Lot size
    20.12 lot acres
    Zone code
    PD-TND
    Property type
    Garden apartment buildings
    APN
    5602 49 8922
    APU
    5602498922

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 1, 2022 $91,250,000 West Shore Vive LLC Integra Poe LP Special Warranty Deed $74.3M · Cre Lender Sub V LLC
    Aug 29, 2018 $96,130 Integra Poe LP Integra Springs Prop Owner LLC Grant Deed · related —
    Feb 27, 2017 $38,160,000 Integra Springs Property Owner LLC Integra Springs LLC Special Warranty Deed —
    — — Integra Springs LLC — Deed Of Trust · related $29.6M · Amerisphere Mtg Fin

    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
    -80.6632
    Latitude
    35.4694
    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
    $1,020,829
    $1,524,090
    $88,377,210
    $89,901,300
    -
    $1,524,090
    $88,377,210
    $89,901,300

    Comparable in this City

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      6,138 SF

      1499 Sherwood Dr

      GARDEN APT, COURT APT (5+ UNITS)
      1499 Sherwood Dr, Kannapolis, NC 28081-5749
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    • Value Estimation
      $975,000
      6,039 SF

      115 Briarcliff Dr

      GARDEN APT, COURT APT (5+ UNITS)
      115 Briarcliff Dr, Kannapolis, NC 28081-7149
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    • Value Estimation
      $1,140,000
      5,027 SF

      600 Atlantic Ct

      GARDEN APT, COURT APT (5+ UNITS)
      600 Atlantic Ct, Kannapolis, NC 28081-4796
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    • Value Estimation
      $1,170,000
      9,356 SF

      821 Main St

      GARDEN APT, COURT APT (5+ UNITS)
      821 Main St, Kannapolis, NC 28081-4900
      View Details
    • Value Estimation
      $975,000
      6,039 SF

      103 Briarcliff Dr

      GARDEN APT, COURT APT (5+ UNITS)
      103 Briarcliff Dr, Kannapolis, NC 28081-7103
      View Details
    • Value Estimation
      $1,805,000
      7,168 SF

      107 G St

      GARDEN APT, COURT APT (5+ UNITS)
      107 G St, Kannapolis, NC 28081-4712
      View Details

    Similar Nearby for Sale

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      21,816 SF

      Kannapolis Townhome Community For Sale

      24-unit townhome community with income potential in Kannapolis, NC.
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      4500 Tiffany Dr, Kannapolis, NC 28081

      Mobile home & RV parks
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    • $1,700,000
      5.68 Acres

      Commercial Land in Kannapolis, NC

      5.68 acres of commercial land for sale.
      5518 Mooresville Rd, Kannapolis, NC 28081
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      Land in Growing Cabarrus County

      Land near research campus and downtown Kannapolis, North Carolina.
      5395 Mooresville Rd, Kannapolis, NC 28081
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    • New
      $1,000,000
      5.23 Acres

      Kannapolis Land For Sale

      Highway-adjacent land near revitalized downtown Kannapolis, North Carolina.
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    • $99,900

      Undeveloped Land Parcel For Sale

      1.8-acre parcel of undeveloped land, build your dream home.
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    Similar Nearby for Lease

    • Contact for pricing
      4,050 SF

      Kannapolis Parkway Commercial Building

      4,050 SF commercial building with office and warehouse space.
      3585 Kannapolis Pkwy, Kannapolis, NC 28081
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      2,973 SF

      Professional Office Space Available

      Two-story medical and professional office building for lease.
      4949 Professional Park Dr, Kannapolis, NC 28081
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    • Contact for pricing

      Retail and Outparcel Opportunities Available

      Retail and outparcel opportunities in a Lowes-anchored shopping center.
      Dogwood Blvd, Kannapolis, NC 28081
      View Details
    • Contact for pricing
      6,600 SF

      Retail Space in Kannapolis, NC

      Retail and outparcel opportunities available in Kannapolis, North Carolina.
      4140 County Down Ave, Kannapolis, NC 28081
      View Details
    • Contact for pricing
      6,600 SF

      Retail Space in Kannapolis, NC

      Retail and outparcel opportunities in a Lowe's anchored shopping center.
      4180 County Down Ave, Kannapolis, NC 28081
      View Details
    • Contact for pricing
      5,173 SF

      Shell Condition Office Space

      Office space in shell condition requiring tenant build out.
      201 Dale Earnhardt Blvd, Kannapolis, NC 28081
      View Details
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    Kannapolis, NC 28081
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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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