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Property profile & analytics
OFF-MARKET
Estimated value
$790,000
Strip malls
2231 Spider Dr Kannapolis, NC 28083-6422
Entity Owned
20-yr Hold
Free & Clear
Property ID
US53-2030702
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2003
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
22,955 SF
Lot
2.41 ac (104,980 SF)
Zoning code
C-2
APN
5622 57 5607
UPID
US53-2030702
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
Current use
Occupant on record · Public records
-
Little Caesars Pizza Restaurant
-
CoinFlip Bitcoin ATM Bank Business Banking Service
-
Premier Dumpsters General Contractor Waste Management Facility
-
Spider Tobacco & Vape. (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$815k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$769k
Blend (final)
Blend
$790k
Owner & transaction history
Spider Properties LLC · 20 yrs held
Spider Properties LLC
since 2006
6 recorded transactions
Zoning & alternative use
C-2 · 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
by Request
ML approach
$815,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$820,000
Current use
Blend value · Realmo final
$790k
Range $711k – $869k · ±10%
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
$34 / 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
$50,734
Tax year 2024
Assessed value
$5,093,770
Assessed 2024
Previous assessed
$4,253,470
+19.8% YoY
Effective rate
1.00%
On assessed value
Assessed land
$2,729,480
Assessed improvement
$2,364,290
Land market value
$2,729,480
Improvement market value
$2,364,290
Total market value
$5,093,770
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
2003
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Bathrooms
9
Total area
22,955 SF
Lot
2.41 ac (104,980 SF)
Zoning code
C-2
APN
5622 57 5607
UPID
US53-2030702
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$820,000
NEIGHBORHOOD: SHOPPING CENTER Current
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
2003
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
9
Lot
2.41 ac
Current owner
From public records · entity-resolved
Spider Properties LLC
Entity
Free & Clear · 20 yrs held
Mailing address
11220 ELM LN STE #200, CHARLOTTE, NC 28277-0450
Ownership since
2006
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 6, 2020
—
Spider Properties LLC
—
Deed
related
$2,800,000 · Towne Bk
Mar 24, 2006
$5,575,000
Spider Properties LLC
Northlite Center LLC
Grant Deed
—
May 17, 2004
$4,229,000
Northlite Center LLC
Northlite Realty Partners LLC
Grant Deed
related
$3,250,000 · Merrill Lynch Mortgage Lending
May 13, 2004
$4,229,000
Northlite Center LLC.
Northlite Realty
Trustees Deed
related
—
—
—
Spider Properties LLC
—
Deed Of Trust
related
$3,000,000 · American Equity Inv Life Ins
—
—
Spider Properties LLC
—
Deed Of Trust
related
$2,800,000 · Towne 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.
Try Rey
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