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Property profile & analytics
OFF-MARKET
Estimated value
$565,000
Office Spaces
500 Cannon Blvd Kannapolis, NC 28083-5261
Entity Owned
3-yr Hold
Free & Clear
Property ID
US53-0971056
Property summary
AI-generated overview
This exceptional 0.67-acre office building is strategically located on heavily trafficked NC Highway 29 in the heart of Kannapolis, North Carolina. Priced at $695,000, the property offers immediate income potential with existing month-to-month leases in place for the owner and two additional tenants. The building's prime location provides easy access to major transportation arteries, including Interstate 85 (within a 3.5-4 mile radius of exits 58, 60, and 63). Its proximity to Downtown Kannapolis, the NC Research Campus, and Atrium Health Stadium further enhances its desirability and potential for future growth. The sale includes the building only
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1959
Construction
WOOD
Total area
5,944 SF
Lot
0.47 ac (20,670 SF)
Zoning code
GC
APN
5623 06 2612
UPID
US53-0971056
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
-
Kannapolis Real Estate Advisors Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$484k
Blend (final)
Blend
$565k
Owner & transaction history
Ahmp LLC · 3 yrs held
Ahmp LLC
since 2023
Last sale
$679,000
1 recorded transaction
Zoning & alternative use
GC · Kannapolis, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$855,000
+65.4%
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
$355,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$515,000
Current use
AUTO REPAIR, GARAGE
$855,000
Change: +65% · Conversion: Difficult
RETAIL STORES
$470,000
Change: -10% · Conversion: Easy
Blend value · Realmo final
$565k
Range $509k – $622k · ±10% · vs last sale $679k (Jul 21 2025)
Last sale anchor
$679k
Jul 21 2025
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
$95 / 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
$7,155
Tax year 2024
Assessed value
$630,160
Assessed 2024
Previous assessed
$518,770
+21.5% YoY
Effective rate
1.14%
On assessed value
Assessed land
$456,000
Assessed improvement
$174,160
Land market value
$456,000
Improvement market value
$174,160
Total market value
$630,160
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1959
Construction
WOOD
Heating
HOT WATER
Cooling
CENTRAL
Stories
1
Bathrooms
4
Total area
5,944 SF
Lot
0.47 ac (20,670 SF)
Zoning code
GC
APN
5623 06 2612
UPID
US53-0971056
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
COMMERCIAL (GENERAL) Current
Est. value
$515,000
AUTO REPAIR, GARAGE
Est. value
$855,000
RETAIL STORES
Est. value
$470,000
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
RETAIL STORES
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
1959
Construction
WOOD
Heating
HOT WATER
Cooling
Yes
Stories
1
Bathrooms
4
Lot
0.47 ac
Current owner
From public records · entity-resolved
Ahmp LLC
Entity
Free & Clear · 3 yrs held
Mailing address
500 S CANNON BLVD, KANNAPOLIS, NC 28083-5261
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 28, 2023
$350,000
Ahmp LLC
Kannapolis Neal Estate Agency INC
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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