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Property profile & analytics
OFF-MARKET
Estimated value
$1,930,000
Garden apartment buildings
205 G St Kannapolis, NC 28081-4714
Entity Owned
3-yr Hold
Absentee Owner
Property ID
US53-1875131
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1930
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
9,344 SF
Lot
0.43 ac (18,626 SF)
Zoning code
CC
APN
5613 47 9553
UPID
US53-1875131
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
$1.89M
CAP Approach
CAP
$1.52M
Comparable Approach
Comparable
$1.54M
Blend (final)
Blend
$1.93M
Owner & transaction history
Kannapolis Property Owner LLC · 3 yrs held
Kannapolis Property Owner LLC
since 2022
Last sale
$2.4M
7 recorded transactions
Zoning & alternative use
CC · 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
$1,890,000
ML approach
$1,885,000
CAP Approach
CAP Return
Estimation
6%
$1,650,000
6.5%
$1,520,000
7%
$1,410,000
Blend value · Realmo final
$1.93M
Range $1.74M – $2.12M · ±10% · vs last sale $2.36M (Oct 3 2022)
Last sale anchor
$2.36M
Oct 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
$207 / 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
$10,276
Tax year 2024
Assessed value
$904,990
Assessed 2024
Previous assessed
$498,900
+81.4% YoY
Effective rate
1.14%
On assessed value
Assessed land
$252,640
Assessed improvement
$652,350
Land market value
$252,640
Improvement market value
$652,350
Total market value
$904,990
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
Off-Market
Year built
1930
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
8
Bathrooms
2
Total area
9,344 SF
Lot
0.43 ac (18,626 SF)
Zoning code
CC
APN
5613 47 9553
UPID
US53-1875131
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.
Building & site characteristics
From public records
Year built
1930
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
8
Bathrooms
2
Lot
0.43 ac
Current owner
From public records · entity-resolved
Kannapolis Property Owner LLC
Entity
Mailing address
1213 W MOREHEAD ST STE #150, CHARLOTTE, NC 28208-5579
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 3, 2022
$4,321,000
Kannapolis Property Owner LLC
Atlantic American Properties INC
Special Warranty Deed
—
Jan 13, 2021
—
Atlantic American Props INC
—
Deed
related
$300,000,000 · Wells Fargo Bk
Oct 23, 2019
$191,000
Kemeya L A Spence
Long Ridge Dev & Prop LLC
Warranty Deed
$187,540 · Quicken Lns
Feb 20, 2019
—
Long Ridge Dev & Prop LLC
—
Trustees Deed
related
$120,175 · Lima One Cap
Dec 28, 2012
—
Atlantic American Props INC
—
Deed Of Trust
related
$860,000,000 · Wells Fargo Bank
Aug 27, 2010
—
Atlantic American Props INC
—
Deed Of Trust
related
$276,997,542 · Deutsche Bank Trust Co America
Aug 17, 2009
—
Atlantic American Props INC
—
Deed Of Trust
related
$276,997,542 · Deutsche Bank Trust Co America
—
—
Atlantic American Props INC
—
Deed Of Trust
related
$300,000,000 · Wells Fargo 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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