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Property profile & analytics
OFF-MARKET
Estimated value
$5,345,000
Strip malls
2202 Roxie NE St Kannapolis, NC 28083-6489
Entity Owned
Free & Clear
Property ID
US53-0652661
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
23,993 SF
Lot
2.8 ac (121,968 SF)
Zoning code
C-2
APN
5622 57 0661
UPID
US53-0652661
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
by Request
CAP Approach
CAP
$5.44M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.35M
Owner & transaction history
Csim Cal Northlite Commons LLC
Csim Cal Northlite Commons LLC
since 2025
Last sale
$5.3M
7 recorded transactions
Zoning & alternative use
C-2 · Kannapolis, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$4.0M
+368.8%
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
by Request
CAP Approach
CAP Return
Estimation
6%
$5,890,000
6.5%
$5,435,000
7%
$5,050,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$4,020,000
Change: +369% · Conversion: Difficult
Blend value · Realmo final
$5.35M
Range $4.81M – $5.88M · ±10% · vs last sale $5.30M (May 29 2025)
Last sale anchor
$5.30M
May 29 2025
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
$223 / 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
$46,143
Tax year 2024
Assessed value
$4,632,850
Assessed 2024
Previous assessed
$4,541,230
+2.0% YoY
Effective rate
1.00%
On assessed value
Assessed land
$2,378,380
Assessed improvement
$2,254,470
Land market value
$2,378,380
Improvement market value
$2,254,470
Total market value
$4,632,850
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
AC.PACKAGE
Stories
1
Total area
23,993 SF
Lot
2.8 ac (121,968 SF)
Zoning code
C-2
APN
5622 57 0661
UPID
US53-0652661
Jurisdiction
CABARRUS
Zoning & alternative use
C-2 · Kannapolis, NC
Zoning C-2 · permitted uses
C-2 · 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
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.0M
APARTMENT HOUSE (5+ UNITS)
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
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
2.8 ac
Current owner
From public records · entity-resolved
Csim Cal Northlite Commons LLC
Entity
Free & Clear · 0 yrs held
Mailing address
6711 LARRISA CT, CHARLOTTE, NC 28226-3369
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 29, 2025
$5,303,000
Csim Cal Northlite Commons LLC
Excel Hospitality LLC
Special Warranty Deed
—
Aug 29, 2025
—
Csim Cal Northlite Commoons LLC
Excel Hospitality
Deed
—
May 3, 2017
$400,000
Excel Hospitality LLC
Retail Center Kannapolis LLC
Special Warranty Deed
$3,200,000 · Wells Fargo Bank NA
Feb 11, 2016
$2,467,500
Retail Center Kannapolis LLC
Bacm 2006-5 Roxie Street LLC
Grant Deed
$1,974,000 · Carter Bk&tr
Feb 21, 2012
$3,000,000
Bacm 2006-5 Roxie Street LLC
Mason,james L JR
Trustees Deed
related
—
Feb 20, 2008
$95,500
Mccar Homes-charlotte LLC
J & B Dev & Management INC
Warranty Deed
—
Apr 19, 2006
$6,810,000
J Baklayan-northlite Commons I
For 1031 Northlite Commons II
Grant Deed
—
Apr 13, 2006
—
For 1031 Northlite Commons II
Dbsi Northlite Commons II LLC
Grant Deed
$3,410,000 · Bridger Commercial Funding LLC
Dec 27, 2005
$5,775,000
Dbsi Northlite Commons II LLC
Northlite Realty Partners LLC
Grant Deed
$4,908,750 · Dbsi 2005 Notes Corp
Mar 19, 2004
$1,451,000
Bk Am Kannapolis Nc LLC.
Northlite Realty
Grant Deed
related
—
—
—
J Baklayan-northlite Commons I
—
Deed Of Trust
related
$3,410,000 · Banc Of America Commercial Mtg
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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