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

    281 Executive Park Dr Concord, NC 28025-1895

    • Warehouses
    • 13,680 SF
    • 2.25 lot acres
    OFF-MARKET
    Last Sale
    Mar 13, 2024
    $2,955,000
    Value Estimations
    $2,845,000
    Show details
    Cap Rate Potential
    5.5%
    Warehouses
    Location Intelligence
    Property ID
    US53-1269425
    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

    • United Refrigeration Inc / Wholesaler / Air Conditioning Contractor

    Property Details for 281 Executive Park Dr

    Year built
    1996
    Construction
    STEEL FRAME
    Lot size
    2.25 lot acres
    Property size
    13,680 SF
    Zone code
    C-2
    Property type
    Warehouses
    APN
    5622 43 1003
    APU
    5622431003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,955,000
      ML approach
      $2,955,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,725,000
      6.5%
      $2,515,000
      7%
      $2,335,000

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $4,300,000
      MEDICAL BUILDING
      $3,025,000
      AUTO REPAIR, GARAGE
      $1,970,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Concord
    County
    Cabarrus
    State
    North Carolina
    Longitude
    -80.598
    Latitude
    35.4515
    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
    $20,597
    $845,780
    $1,222,220
    $2,068,000
    -
    $845,780
    $1,222,220
    $2,068,000

    Comparable in this City

    • Value Estimation
      $450,000
      21,000 SF

      2900 Armentrout Dr

      WAREHOUSE, STORAGE • 21,000 SF
      2900 Armentrout Dr, Concord, NC 28025-5840
      View Details
    • Value Estimation
      $275,000
      16,070 SF

      2050 Park Lafferty Rd

      WAREHOUSE, STORAGE • 16,070 SF
      2050 Park Lafferty Rd, Concord, NC 28025-1258
      View Details
    • Value Estimation
      $1,045,000
      117,447 SF

      280 Mnr SW Ave

      WAREHOUSE, STORAGE • 117,447 SF
      280 Mnr SW Ave, Concord, NC 28025-5712
      View Details
    • Value Estimation by Request
      5,514 SF

      2539 Nc Hwy 73rd E

      WAREHOUSE, STORAGE • 5,514 SF
      2539 Nc Hwy 73rd E, Concord, NC 28025-9611
      View Details
    • Value Estimation
      $275,000
      17,853 SF

      714 Commerce Dr

      WAREHOUSE, STORAGE • 17,853 SF
      714 Commerce Dr, Concord, NC 28025-8800
      View Details
    • Value Estimation
      $235,000
      3,884 SF

      125 Deal SE St

      WAREHOUSE, STORAGE • 3,884 SF
      125 Deal SE St, Concord, NC 28025-2615
      View Details

    Similar Nearby for Sale

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      18,035 SF

      Concord, NC Warehouse Investment Opportunity

      18,035 SF Warehouse, 3 Buildings, $3.5M
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      Concord Industrial Land - $285K

      Rare I-2 Zoned Land, Concord, NC
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    • $265,000

      Free Standing Warehouse For Sale

      10,600 SF warehouse with loading dock and drive-in door.
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    • $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
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    • $499,900
      5,000 SF

      Concord Industrial Tract with Warehouse

      3+/- acre industrial tract with 5,000+/- sq. ft. warehouse.
      387 Corban Ave SW, Concord, NC 28025
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    • $3,650,000
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      Concord, NC Industrial Land - 20 Acres

      Prime 20-acre industrial lot, Hwy 49S frontage.
      251 State Hwy 49, Concord, NC 28025
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    Similar Nearby for Lease

    • $15 SF/Yr
      13,200 SF

      Industrial Space Available For Lease

      New industrial development with flexible building sizes and truck access.
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    • $8,300 /Mo
      8,024 SF

      Office and Warehouse Space Available

      Versatile office, warehouse, and gated lot in Concord, NC.
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      View Details
    • $15 SF/Yr
      1,920 SF

      Concord Carwash - Industrial Lease

      1920 sq ft Carwash, Flex Space Available
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    • Contact for pricing
      7,500 SF

      Industrial Space at Gibson Mill

      Industrial space available for lease at Gibson Mill.
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      View Details
    • $7 SF/Yr
      20,605 SF

      Former Mill Building For Lease

      Industrial space available for lease near major highways.
      192 Manor Ave SW, Concord, NC 28025
      View Details
    • Contact for pricing
      15,900 SF

      Industrial Warehouse with Outside Storage

      Warehouse space with drive-in doors and outside storage.
      290-296 Executive Park Dr NE, Concord, NC 28025
      View Details
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    Concord, NC 28025-1895
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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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