700 Cannon Blvd Kannapolis, NC 28083-3798
- Office Properties & Spaces
- 18,762 SF
- 1.21 lot acres
Current Use by Public Records
- Southern Financial Group / Service Establishment / Insurance Agency
- Hypnosis Center / Hypnotherapy Service
- Rise up Counseling and Consulting PLLC / Social Worker / Life Coach
- 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 Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,140,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,295,000
- 6.5%
- $1,265,000
- 7%
- $1,385,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,355,000
- Geo Method
- $1,470,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,480,000
- Retail
- $1,285,000
- Mixed-Use
- $1,745,000
- Hospitality
- $1,695,000
- Educational
- $1,350,000
- Residential Income
- $1,265,000
- Energy
- $1,320,000
- Income-Based Land
- $1,750,000
- Food Service
- $1,545,000
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
