Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    700 Cannon Blvd Kannapolis, NC 28083-3798

    • Office Properties & Spaces
    • 18,762 SF
    • 1.21 lot acres
    OFF-MARKET
    Last Sale
    Apr 12, 2022
    $1,425,000
    Value Estimations
    $1,260,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1426633
    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

    • Southern Financial Group / Insurance Agency / Service Establishment
    • Hypnosis Center / Hypnotherapy Service
    • Rise up Counseling and Consulting PLLC / Mental Health Service / Psychotherapist
    • HOPE United Incorported / Assisted Living Facility
    • Royal Health Oasis / Health Spa

    Property Details for 700 Cannon Blvd

    Year built
    1945
    Construction
    STEEL FRAME
    Lot size
    1.21 lot acres
    Property size
    18,762 SF
    Zone code
    GC
    Property type
    Office Properties & Spaces
    APN
    5624 12 2288
    APU
    5624122288

    Description

    This exceptional investment opportunity presents a fully leased, 22,658-square-foot mixed-use property located at 700 N Cannon Blvd in Kannapolis, NC. The property, built in 1945 and extensively renovated in 2022, features a diverse tenant mix across nine units within a single, one-story building. The flexible space is comprised of approximately 15,000 square feet of industrial/flex space and the remaining area dedicated to office and retail uses. Boasting a prime location with high visibility on US Highway 29, the property benefits from ample frontage, multiple access points, and 58 parking spaces. The 1.2-acre lot is zoned C-2, and the property includes one loading dock. This NNN-leased property offers a strong return on investment, supported by 100% occupancy and the robust growth of Kannapolis. The area boasts strong population growth, proximity to major employment centers, and a high consumer spending base exceeding $82 million within a one-mile radius in 2023. The asking price is $1,987,500, translating to $87.72 per square foot. This represents a compelling opportunity to acquire a well-maintained, high-performing asset in a thriving market. The property's recent renovations include new paint, flooring, exposed ceilings, HVAC, and lighting. Its strategic location near the intersection of Cannon Boulevard and Lane Street, a major thoroughfare with over 30,000 vehicles daily, ensures excellent accessibility and exposure. Kannapolis's economic transformation into a research hub and its recognition as a top city for corporate headquarters further solidify this investment's potential. The property's APN is 5624-12-2288-0000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,140,000
      ML approach
      $1,040,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,112,000
      Market price range: $1.11M - $2.35M
      AI Estimate
      $1,406,000
      Market price range: $1.30M - $2.89M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,635,000
      Current use
      RETAIL STORES
      $1,475,000
      Change: -10% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Kannapolis
    County
    Cabarrus
    State
    North Carolina
    Longitude
    -80.6085
    Latitude
    35.5041
    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
    $16,229
    $546,950
    $882,270
    $1,429,220
    -
    $546,950
    $882,270
    $1,429,220

    Comparable in this City

    • Value Estimation by Request
      0.55 Acres

      1509 Dl Earnhardt Blvd

      CONDOMINIUM OFFICES • 0.55 Acres
      1509 Dl Earnhardt Blvd, Kannapolis, NC 28083-3209
      View Details
    • Value Estimation by Request
      0.32 Acres

      2608 Ln St

      OFFICE (GENERAL) • 0.32 Acres
      2608 Ln St, Kannapolis, NC 28083-9221
      View Details
    • Value Estimation by Request
      0.08 Acres

      Cannon Blvd

      OFFICE (GENERAL) • 0.08 Acres
      Cannon Blvd, Kannapolis, NC 28083
      View Details
    • Value Estimation by Request
      0.42 Acres

      144 Waco Ave

      OFFICE (GENERAL) • 0.42 Acres
      144 Waco Ave, Kannapolis, NC 28083-6364
      View Details
    • Value Estimation by Request
      1,694 SF

      716 Fairview St

      OFFICE (GENERAL) • 1,694 SF
      716 Fairview St, Kannapolis, NC 28083-4200
      View Details
    • Value Estimation by Request
      2,096 SF

      316 Jackson Park Rd

      OFFICE (GENERAL) • 2,096 SF
      316 Jackson Park Rd, Kannapolis, NC 28083-3546
      View Details

    Similar Nearby for Sale

    • $199,000
      0.18 Acres

      Kannapolis Office Space - Great Location!

      Prime Kannapolis Office, Ample Parking, Versatile.
      811 Lakeview St, Kannapolis, NC 28083
      View Details
    • $695,000
      0.67 Acres

      Kannapolis Office Building - Hwy 29

      High-traffic location, excellent lease potential.
      500 Cannon Blvd, Kannapolis, NC 28083
      View Details
    • $450,000
      0.48 Acres

      Kannapolis Commercial Property - $450K

      Prime C-2 zoned lot, 1665 sq ft, high traffic area.
      2306 Cannon Blvd, Kannapolis, NC 28083
      View Details
    • $575,000

      Kannapolis Office Building For Sale

      2,835 SF office building suitable for professional uses.
      1910 Dale Earnhardt Blvd, Kannapolis, NC 28083
      View Details
    • $165,000
      0.18 Acres

      Kannapolis Commercial Space For Sale

      Commercial space suitable for salon or office near N Cannon Blvd.
      811 Lakeview St, Kannapolis, NC 28083
      View Details
    • $274,900
      1.27 Acres

      Kannapolis Commercial Land - $274,900

      High-traffic corner lot, retail/office potential.
      653 14Th St, Kannapolis, NC 28083
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      66,317 SF

      College Station Shopping Center

      Kannapolis Retail/Office Space
      475 Cannon Blvd, Kannapolis, NC 28083
      View Details
    • Contact for pricing
      2,453 SF

      Cannon Blvd. Industrial Space Available

      Secure Industrial Space, Multiple Uses
      2881 Cannon Blvd, Kannapolis, NC 28083
      View Details
    • Contact for pricing

      Corner Lot in Kannapolis, NC

      Located on a hard corner with high visibility and access.
      Kannapolis, NC 28083
      View Details
    • $950 /Mo

      Updated One-Bedroom Duplex For Rent

      One-bedroom, one-bath duplex with updated features available for rent.
      301 Plymouth St, Kannapolis, NC 28083
      View Details
    • Contact for pricing

      Industrial Outdoor Storage Space Available

      Prime industrial outdoor storage space with easy I-85 access.
      230 Lockhart Rd, Kannapolis, NC 28083
      View Details
    • Contact for pricing
      3,150 SF

      Kannapolis Retail Space - 3150 SF

      Prime Kannapolis retail space available.
      2115 Cannon Blvd, Kannapolis, NC 28083
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    700 Cannon Blvd
    Kannapolis, NC 28083-3798
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.