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Property profile & analytics
OFF-MARKET
Estimated value
$680,000
Automotive properties
2600 Cannon Blvd Kannapolis, NC 28083-6914
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-0820029
Property profile
Verified
Property type
Automotive properties
Use group
VEHICLE SALES, RENTALS
Year built
1968
Construction
STEEL FRAME
Total area
3,600 SF
Lot
6.5 ac (283,140 SF)
Zoning code
GC
APN
5622 05 7833
UPID
US53-0820029
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
-
Hilbish Motor Co Collision Auto Parts Store
-
Hilbish Motor Co Service Auto Repair Shop
-
Hilbish Ford Parts Center Auto Parts Store
-
Hilbish Ford Car Dealership Auto Repair Shop
-
Hilbish Ford Service Center Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$690k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$792k
Blend (final)
Blend
$680k
Owner & transaction history
Michael Properties I LLC · 1 yrs held
Michael Properties I LLC
since 2024
5 recorded transactions
Zoning & alternative use
GC · Kannapolis, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$795,000
+53.6%
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
$690,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$520,000
Current use
MEDICAL BUILDING
$795,000
Change: +54% · Conversion: Difficult
Blend value · Realmo final
$680k
Range $612k – $748k · ±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
$189 / 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
$64,083
Tax year 2024
Assessed value
$5,643,610
Assessed 2024
Previous assessed
$5,643,610
+0.0% YoY
Effective rate
1.14%
On assessed value
Assessed land
$2,344,880
Assessed improvement
$3,298,730
Land market value
$2,344,880
Improvement market value
$3,298,730
Total market value
$5,643,610
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
Automotive properties
Use group
VEHICLE SALES, RENTALS
Status
Off-Market
Year built
1968
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
1
Units
1
Bathrooms
8
Total area
3,600 SF
Lot
6.5 ac (283,140 SF)
Zoning code
GC
APN
5622 05 7833
UPID
US53-0820029
Jurisdiction
CABARRUS
Zoning & alternative use
GC · Kannapolis, NC
Zoning GC · permitted uses
GC · 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
AUTO REPAIR, GARAGE Current
Est. value
$520,000
MEDICAL BUILDING
Est. value
$795,000
AUTO REPAIR, GARAGE Current
MEDICAL BUILDING
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
1968
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Units
1
Bathrooms
8
Lot
6.5 ac
Current owner
From public records · entity-resolved
Michael Properties I LLC
Entity
Free & Clear · 1 yrs held
Mailing address
4900 S LEIGH DR, RALEIGH, NC 27616-2804
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 16, 2024
$7,725,000
Michael Properties I LLC
Honeybee Enterprises LLC
Special Warranty Deed
—
Oct 16, 2024
—
Hilbish Motor Company
Honeybee Enterprises LLC
Lease
$8,900,000 · Bank Of America NA
Dec 29, 2023
—
Honeybee Enterprises LLC
Hilbish Properties LLC
Special Warranty Deed
—
Jan 28, 2009
—
Hilbish Properties LLC
Hilbish Properties LLC
Quit Claim Deed
related
—
Dec 31, 2008
—
Upland Co INC
Hilbish Properties LLC
Warranty Deed
—
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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