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Property profile & analytics
FOR LEASE
Warehouses
5700 Royce St, Kannapolis, NC 28083
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-2771752
For Lease
1 / 3
$44,750,000
5700 Royce St, Kannapolis, NC 28083
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2022
Construction
STEEL FRAME
Total area
754,000 SF
Lot
56.52 ac (2,462,185 SF)
Zoning code
I1-CZ
APN
5633 67 5991
UPID
US53-2771752
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$47.28M
Blend (final)
Blend
$44.75M
Owner & transaction history
Tcc Metro 63 Logistics Owner LLC · 4 yrs held
Tcc Metro 63 Logistics Owner LLC
since 2022
1 recorded transaction
Zoning & alternative use
I1-CZ · Kannapolis, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$65.6M
+29.2%
Retail stores
$59.3M
+16.9%
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$50,765,000
Current use
COMMERCIAL (GENERAL)
$65,615,000
Change: +29% · Conversion: Difficult
RETAIL STORES
$59,325,000
Change: +17% · Conversion: Moderate
Blend value · Realmo final
$44.75M
Range $40.28M – $49.23M · ±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
$59 / 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
$557,027
Tax year 2024
Assessed value
$49,055,640
Assessed 2024
Previous assessed
$49,055,640
+0.0% YoY
Effective rate
1.14%
On assessed value
Assessed land
$4,687,400
Assessed improvement
$44,368,240
Land market value
$4,687,400
Improvement market value
$44,368,240
Total market value
$49,055,640
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
For Lease
Year built
2022
Construction
STEEL FRAME
Heating
RADIANT
Cooling
NONE
Stories
1
Total area
754,000 SF
Lot
56.52 ac (2,462,185 SF)
Zoning code
I1-CZ
APN
5633 67 5991
UPID
US53-2771752
Jurisdiction
CABARRUS
Zoning & alternative use
I1-CZ · Kannapolis, NC
Zoning I1-CZ · permitted uses
I1-CZ · 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
WAREHOUSE, STORAGE Current
Est. value
$50.8M
COMMERCIAL (GENERAL)
Est. value
$65.6M
RETAIL STORES
Est. value
$59.3M
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
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
2022
Construction
STEEL FRAME
Heating
RADIANT
Cooling
Yes
Stories
1
Lot
56.52 ac
Current owner
From public records · entity-resolved
Tcc Metro 63 Logistics Owner LLC
Entity
Free & Clear · 4 yrs held
Mailing address
1055 THOMAS JEFFERSON ST NW STE #600, WASHINGTON, DC 20007-5258
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
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
Mar 9, 2022
—
Tcc Metro 63 Logistics Owner LLC
Richard Dwight Locklear
Correction Deed
related
—
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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