700 Cannon Blvd, Kannapolis, NC 28083-3798
- Office Spaces
- 18,762 SF
- 1.21 lot acres
Current Use by Public Records
- Southern Financial Group / Insurance Agency
- Hypnosis Center / Alternative Medicine Practice
- Rise up Counseling and Consulting PLLC / Mental Health Service / Psychotherapist
- HOPE United Incorported / Nursing Home / Retirement Community
- Royal Health Oasis / Alternative Medicine Practice / Spa & Massage Center
Property Details for 700 Cannon Blvd
- Year built
- 1945
- Construction
- STEEL FRAME
- Lot size
- 1.21 lot acres
- Zone code
- GC
- Property type
- Office Spaces
- APN
- 5624 12 2288
- APU
- 5624122288
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Apr 12, 2022 | $1,425,000 | 700 N Cannon LLC | Robert K Mcvay | Special Warranty Deed | $1M · Stormfield Spv LLC |
| Apr 11, 2019 | $17,000 | David Miller Realty & Invs INC | Martingale Holdings IV LLC | Warranty Deed | — |
| — | — | Robert K Mcvay | — | Deed Of Trust · related | $849k · Fifth Third Bank |
| — | — | Robert K Mcvay | — | Deed Of Trust · related | $420k · Business Expansion Funding Cor |
| — | — | Robert K Mcvay | — | Deed Of Trust · related | $100k · First Charter Bank |
| — | — | Robert K Mcvay | — | Deed Of Trust · related | $84k · First Charter Bank |
| — | — | Robert K Mcvay | — | Loan Modification · related | $507k · First Horizon Bk |
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
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,140,000
- ML approach
- $1,040,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,112,000
- AI Estimate
- $1,406,000
Market price range: $1.11M - $2.35MMarket 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 estimation — 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
