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

    2623 Main St Concord, NC 28027-0501

    • Office Properties & Spaces
    • 1,388 SF
    • 0.20 lot acres
    OFF-MARKET
    Value Estimations
    $260,000
    Show details
    Cap Rate Potential
    7.7%
    Office Properties & Spaces
    Location Intelligence
    Property ID
    US53-2830787
    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

    • AW Widenhouse Motors / Used Car Dealer

    Property Details for 2623 Main St

    Year built
    2002
    Construction
    WOOD
    Lot size
    0.20 lot acres
    Property size
    1,388 SF
    Zone code
    C-2
    Property type
    Office Properties & Spaces
    APN
    5612 84 2949
    APU
    5612842949

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $255,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $325,000
      6.5%
      $300,000
      7%
      $280,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $235,000
      Market price range: $60.5k - $289k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $375,000
      Current use
      MEDICAL BUILDING
      $305,000
      Change: -18% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Concord
    County
    Cabarrus
    State
    North Carolina
    Longitude
    -80.6178
    Latitude
    35.4565
    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
    $2,930
    $82,800
    $175,260
    $258,060
    -
    $82,800
    $175,260
    $258,060

    Comparable in this City

    • Value Estimation
      $620,000
      20,620 SF

      290 Robins SW Way

      OFFICE (GENERAL) • 20,620 SF
      290 Robins SW Way, Concord, NC 28027-9437
      View Details
    • Value Estimation
      $460,000
      18,120 SF

      8415 Pit Stop NW Ct

      OFFICE (GENERAL) • 18,120 SF
      8415 Pit Stop NW Ct, Concord, NC 28027-8247
      View Details
    • Value Estimation
      $235,000
      1,188 SF

      4200 Concord S Pkwy

      OFFICE (GENERAL) • 1,188 SF
      4200 Concord S Pkwy, Concord, NC 28027-5036
      View Details
    • Value Estimation
      $135,000
      8,002 SF

      232 Davidson Hwy

      OFFICE (GENERAL) • 8,002 SF
      232 Davidson Hwy, Concord, NC 28027-4257
      View Details
    • Value Estimation
      $550,000
      22,531 SF

      173 Davidson Hwy

      OFFICE (GENERAL) • 22,531 SF
      173 Davidson Hwy, Concord, NC 28027-4205
      View Details
    • Value Estimation
      $310,000
      4,577 SF

      820 Florence NW St

      OFFICE (GENERAL) • 4,577 SF
      820 Florence NW St, Concord, NC 28027-5947
      View Details

    Similar Nearby for Sale

    • $2,300,000
      3,710 SF

      Midtown Medical Office Building

      Prime Concord location, 3,710 SF, 18 parking spaces.
      149 Providence Rd, Concord, NC 28027
      View Details
    • $1,500,000
      21,000 SF

      Concord Restaurant & Office Building

      Prime Concord location, 21,000 SF, $1.5M
      745 Cabarrus Ave, Concord, NC 28027
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    • $1,500,000
      2.65 Acres

      Concord Executive Office Building

      Prime Concord location, 21,000 SF office
      745 Cabarrus Ave, Concord, NC 28027
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    • $3,047,000
      4,262 SF

      Concord, NC Dental Storefront

      High-yield, corporate-guaranteed dental office.
      316 George W Liles Pkwy, Concord, NC 28027
      View Details
    • $1,500,000
      21,000 SF

      Well-Maintained Office Building For Sale

      Two-story office building with basement on a large lot.
      745 Cabarrus Ave W, Concord, NC 28027
      View Details
    • $5,500,000
      19,642 SF

      Freestanding Office Building For Sale

      Freestanding office building with ample parking near I-85.
      7870 Commons Park Cir NW, Concord, NC 28027
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,900 SF

      Concord Office Space For Lease

      3900 SF office space in Concord Mills commercial district.
      7752 Gateway Ln NW, Concord, NC 28027
      View Details
    • $22 SF/Yr
      2,773 SF

      New Office Building For Rent

      Newly constructed office building with spaces available for rent.
      2339 Odell School Rd, Concord, NC 28027
      View Details
    • Contact for pricing
      23,200 SF

      Mixed-Use Retail Center For Rent

      Retail and office spaces available in Concord, NC.
      9620 Christenbury Pkwy, Concord, NC 28027
      View Details
    • $22 SF/Yr
      56,628 SF

      Premier Retail-Office Space Near Mall

      Class A retail and office space near Concord Mills Mall.
      8415 Pit Stop Ct, Concord, NC 28027
      View Details
    • Contact for pricing
      2,665 SF

      Concord Office Space For Rent

      Office space available near Concord Mills and Great Wolf Lodge.
      7730 Bruton Smith Blvd, Concord, NC 28027
      View Details
    • $3,800 /Mo
      87,120 SF

      Concord Flex Space For Rent

      End-unit flex space in prime Concord location available for rent.
      51 Carpenter Ct, Concord, NC 28027
      View Details
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    2623 Main St
    Concord, NC 28027-0501
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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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