8.20% Cap - Industrial/Flex SLB - Kannapolis | 1214 S Main St
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8.20% Cap - Industrial/Flex SLB - Kannapolis 1214 S Main St
22,619 SF Industrial Building Kannapolis, NC 28081 $2,333,000 ($103/SF) 8.23% Cap Rate
Investment Highlights
- 10,000+ SF of conditioned space
- 3 phase power
- $1M in renovations
- Fenced laydown yard in the rear
- Move-in ready
- +/- 10,000 vehicles per day
Executive Summary
Passive investment or occupy for your business! Opportunity to acquire 22,000+ SF of warehouse, office, and showroom in Kannapolis, NC. Property is ideal for owner-users or investors seeking exposure in a stable growth market. Available to occupy or as a sale-leaseback. This property is primed for businesses that value a modern, functional layout with substantial recent upgrades.
Key Highlights:
- Asking Price: $2,333,000 ($103.14/SF)
- 10,000+ SF of conditioned space
- 10,000+ vehicles per day
- 3 phase power
- Laydown yard in the rear
- Recently added +/- 2,500 SF second floor with six offices, two board rooms, full bath, two half baths, and kitchen, offering a modern, functional layout
- Fresh paint, new asphalt, and a new HVAC system installed upon property acquisition
- New addition includes a new roof, drainage system, and aesthetic upgrades
This property has undergone extensive renovations totaling close to $1 million, including a newly constructed +/-2,500 SF second floor. This addition features six private offices, two boardrooms, a full bath, two half baths, and a fully-equipped kitchen. The second-floor build-out includes a new roof and drainage system, enhancing both aesthetics and functionality. Other upgrades include fresh paint, new asphalt, and a new HVAC system, making it a turnkey solution for various business uses.
Sale-Leaseback Terms:
Lease Duration: 5 years
Cap Rate: 8.23%
Purchase Price: $2,333,000
Year 1 Net Operating Income (NOI): $191,970 with 2% annual escalations.
NOI over the lease term:
Year 2: $195,809
Year 3: $199,726
Year 4: $203,720
Year 5: $207,795
This is a rare opportunity for a business to capitalize on a stabilized asset just minutes from downtown. Reach out today to learn more!
Jaben@starnescommercial.com | Mobile: (704) 380-7963 | Office: (980) 888-1031
Key Highlights:
- Asking Price: $2,333,000 ($103.14/SF)
- 10,000+ SF of conditioned space
- 10,000+ vehicles per day
- 3 phase power
- Laydown yard in the rear
- Recently added +/- 2,500 SF second floor with six offices, two board rooms, full bath, two half baths, and kitchen, offering a modern, functional layout
- Fresh paint, new asphalt, and a new HVAC system installed upon property acquisition
- New addition includes a new roof, drainage system, and aesthetic upgrades
This property has undergone extensive renovations totaling close to $1 million, including a newly constructed +/-2,500 SF second floor. This addition features six private offices, two boardrooms, a full bath, two half baths, and a fully-equipped kitchen. The second-floor build-out includes a new roof and drainage system, enhancing both aesthetics and functionality. Other upgrades include fresh paint, new asphalt, and a new HVAC system, making it a turnkey solution for various business uses.
Sale-Leaseback Terms:
Lease Duration: 5 years
Cap Rate: 8.23%
Purchase Price: $2,333,000
Year 1 Net Operating Income (NOI): $191,970 with 2% annual escalations.
NOI over the lease term:
Year 2: $195,809
Year 3: $199,726
Year 4: $203,720
Year 5: $207,795
This is a rare opportunity for a business to capitalize on a stabilized asset just minutes from downtown. Reach out today to learn more!
Jaben@starnescommercial.com | Mobile: (704) 380-7963 | Office: (980) 888-1031
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
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-
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| Other Income |
-
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-
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| Vacancy Loss |
-
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-
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| Effective Gross Income |
-
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-
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| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts Under Contract
Amenities
- Conferencing Facility
- Fenced Lot
- Signage
- Air Conditioning
Utilities
- Lighting
- Gas
- Water
- Sewer
- Heating
MAJOR TENANTS Click Here to Access
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Carpet Connection
- Construction
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99,999 SF
-
$9.99
-
Lorem Ipsum
- -
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Carpet Connection | Construction | 99,999 SF | $9.99 | Lorem Ipsum | - |
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8.20% Cap - Industrial/Flex SLB - Kannapolis | 1214 S Main St
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