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

    31 Un N St Concord, NC 28025-4726

    • Banks
    • 19,186 SF
    • 1.17 lot acres
    OFF-MARKET
    Value Estimations
    $640,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1712738
    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

    • Guitar Lessons at Mullis Music / Tutoring Service
    • ATM (Suntrust Bank) / Atm
    • Truist Mortgage / Loan Service / Bank
    • Mullis Music Co / (Bike/Boat/Book/etc) Store
    • Truist / Bank / Loan Service

    Property Details for 31 Un N St

    Year built
    1960
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.17 lot acres
    Property size
    19,186 SF
    Zone code
    CC
    Property type
    Banks
    APN
    5620 88 4313
    APU
    5620884313

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $530,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $744,000
      Market price range: $745k - $1.34M

    • Alternative Use

      Use
      Estimation
      FINANCIAL BUILDING
      $995,000
      Current use
      WAREHOUSE, STORAGE
      $970,000
      Change: -3% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $885,000
      Change: -11% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Concord
    County
    Cabarrus
    State
    North Carolina
    Longitude
    -80.5828
    Latitude
    35.4111
    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
    $43,355
    $1,237,750
    $2,512,670
    $3,750,420
    -
    $1,237,750
    $2,512,670
    $3,750,420

    Comparable in this City

    • Value Estimation by Request
      480 SF

      885 Church N St

      FINANCIAL BUILDING • 480 SF
      885 Church N St, Concord, NC 28025
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    • Value Estimation
      $650,000
      20,770 SF

      871 Church N St

      FINANCIAL BUILDING • 20,770 SF
      871 Church N St, Concord, NC 28025-4333
      View Details
    • Value Estimation
      $580,000
      17,408 SF

      40 Cabarrus E Ave

      FINANCIAL BUILDING • 17,408 SF
      40 Cabarrus E Ave, Concord, NC 28025-3452
      View Details
    • Value Estimation
      $565,000
      12,426 SF

      660 Penny Ln

      FINANCIAL BUILDING • 12,426 SF
      660 Penny Ln, Concord, NC 28025-1424
      View Details
    • Value Estimation by Request
      5,152 SF

      275 Branchview SE Dr

      FINANCIAL BUILDING • 5,152 SF
      275 Branchview SE Dr, Concord, NC 28025-3578
      View Details
    • Value Estimation by Request
      6,041 SF

      818 Church N St

      FINANCIAL BUILDING • 6,041 SF
      818 Church N St, Concord, NC 28025-4338
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Bank Branch with Drive Thru

      3,818 SF bank branch on 1.3 acres for sale.
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    • $650,000
      0.63 Acres

      Commercial Building in High-Traffic Area

      Stand-alone commercial building in Concord's high-traffic area, ideal for investors.
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      High Traffic Retail Space

      Retail space with high visibility and updated systems.
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      Commercial Condo Unit in Concord

      Commercial condo unit in downtown Concord, suitable for retail or office.
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    • $325,000
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      Commercial Space in Concord, NC

      Commercial space suitable for retail or service businesses.
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      2,538 SF

      Retail Property in Concord, NC

      Retail space available for sale in Concord, North Carolina.
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    Similar Nearby for Lease

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      8,800 SF

      Landmark Building in Downtown Concord

      Former bank building with flexible space and ample parking.
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      View Details
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      1,690 SF

      Downtown Concord Commercial Office/Retail Space

      Renovated 1,690 sq ft office/retail space in historic downtown Concord.
      159 Church St NE, Concord, NC 28025
      View Details
    • $23 SF/Yr
      1,450 SF

      Renovated Retail/Office Space Available

      Market Street facing space ideal for retail or office.
      42 Union St S, Concord, NC 28025
      View Details
    • $23 SF/Yr
      3,549 SF

      Downtown Retail/Office Space Available

      Highly visible space in Concord's revitalized downtown area.
      30 S Union St, 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
    • Contact for pricing
      550,000 SF

      Carolina Mall Retail Space For Lease

      High-traffic Concord, NC retail space available.
      1480 Concord Pkwy, Concord, NC 28025
      View Details

    Property Visit Statistics

    • Visits by month
      6.9k
    • Visitors by month
      5.3k
    • Avg Time on site
      15 min
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    31 Un N St
    Concord, NC 28025-4726
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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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