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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2320 Concord Lk Rd Concord, NC 28025-2814

    • Medical offices
    • 11,561 SF
    • 2.50 lot acres
    OFF-MARKET
    Last Sale
    Mar 13, 2025
    $1,880,000
    Value Estimations
    $1,955,000
    Show details
    Cap Rate Potential
    9%
    Medical offices
    Location Intelligence
    Property ID
    US53-2209990
    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

    • Dr. Philip M. Sobo, DDS / Dentist
    • Kannapolis Family Dental Care / Dentist
    • Charles Armworthy Straughan / Dentist
    • Zachary Williams / Dentist / Practitioner Service Location

    Property Details for 2320 Concord Lk Rd

    Year built
    1987
    Construction
    WOOD
    Lot size
    2.50 lot acres
    Property size
    11,561 SF
    Zone code
    O-I
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    5622 33 0617
    APU
    5622330617

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,750,000
      ML approach
      $1,705,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,635,000
      6.5%
      $2,435,000
      7%
      $2,260,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,027,000
      Market price range: $1.21M - $4.03M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $2,555,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Concord
    County
    Cabarrus
    State
    North Carolina
    Longitude
    -80.602
    Latitude
    35.453
    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
    $18,800
    $1,180,580
    $475,070
    $1,655,650
    -
    $1,180,580
    $475,070
    $1,655,650

    Comparable in this City

    • Value Estimation
      $290,000
      16,104 SF

      320 Copperfield NE Blvd

      MEDICAL BUILDING • 16,104 SF
      320 Copperfield NE Blvd, Concord, NC 28025-2422
      View Details
    • Value Estimation
      $250,000
      3,896 SF

      217 Church NE St

      MEDICAL BUILDING • 3,896 SF
      217 Church NE St, Concord, NC 28025-4763
      View Details
    • Value Estimation
      $1,305,000
      7,408 SF

      980 Lee Ann NE Dr

      MEDICAL BUILDING • 7,408 SF
      980 Lee Ann NE Dr, Concord, NC 28025-2957
      View Details
    • Value Estimation
      $235,000
      0.52 Acres

      Dickens Pl

      MEDICAL BUILDING • 0.52 Acres
      Dickens Pl, Concord, NC 28025
      View Details
    • Value Estimation
      $170,000
      5,928 SF

      398 Copperfield NE Blvd

      MEDICAL BUILDING • 5,928 SF
      398 Copperfield NE Blvd, Concord, NC 28025-2402
      View Details
    • Value Estimation
      $250,000
      14,660 SF

      202 Mcgill NW Ave

      MEDICAL BUILDING • 14,660 SF
      202 Mcgill NW Ave, Concord, NC 28025-4615
      View Details

    Similar Nearby for Sale

    • $358,000

      Concord Medical/Office Property Near I-85

      Located near healthcare, retail, and I-85, suited for many uses.
      600 Penny Ln, Concord, NC 28025
      View Details
    • $74,900

      Commercial Condo Unit in Concord

      Commercial condo unit in downtown Concord, suitable for retail or office.
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    • $750,000
      3,025 SF

      Concord Office Complex - High Traffic Area

      Prime Concord location, flexible office space, high visibility.
      3550 Us Highway 601, Concord, NC 28025
      View Details
    • $1,700,000
      6,587 SF

      Concord Office Building - $1.7M

      Prime Concord Office, Owner-Occupant Potential
      990 Lee-Ann Dr, Concord, NC 28025
      View Details
    • $1,100,000
      0.52 Acres

      Retail/Warehouse Space on Hwy 73

      11,488 SF retail/warehouse on 0.52 acres in Concord, NC.
      487 Corban Ave SE, Concord, NC 28025
      View Details
    • $489,900

      Two Buildings Near Downtown Concord

      Two adjacent commercial buildings suitable for office, medical, or service use.
      729 Church St N, Concord, NC 28025
      View Details

    Similar Nearby for Lease

    • $31 SF/Yr
      3,007 SF

      Renovated Medical/Dental Office Space

      Renovated 3,007 SF medical/dental office in downtown Concord.
      35 Union St S, Concord, NC 28025
      View Details
    • $2,350,000
      6,728 SF

      Unique Downtown Concord Office Space

      Premier, fully furnished office space in downtown Concord.
      18 Cabarrus Ave W, Concord, NC 28025
      View Details
    • $3,200 /Mo
      1,600 SF

      Office Suite in Concord

      Office suite for rent near Atrium Health Cabarrus Hospital.
      212 Le Phillip Ct NE, Concord, NC 28025
      View Details
    • $30 SF/Yr
      34,412 SF

      Retail/Office Space For Lease

      Versatile retail or office space in a high-traffic commercial district.
      2361 Concord Lake Rd, Concord, NC 28025
      View Details
    • $8,300 /Mo
      8,024 SF

      Office and Warehouse Space Available

      Versatile office, warehouse, and gated lot in Concord, NC.
      829 Davidson Dr NW, Concord, NC 28025
      View Details
    • $20 SF/Yr
      2,400 SF

      Renovated Mill Building Office Space

      Office space in renovated mill building with modern finishes.
      165 Brumley Ave NE, Concord, NC 28025
      View Details
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    Concord, NC 28025-2814
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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.

    More about this property
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