1473 Dale Earnhardt Blvd
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1473 Dale Earnhardt Blvd
3,238 SF Office Building Kannapolis, NC 28083 $650,000 ($201/SF) 7% Cap Rate
Executive Summary
+/-3,200 sf, 100 % leased single-tenant office investment property located in Kannapolis, NC, which is NE of Charlotte. Tenant is currently on a lease date 11/1/2000 - 10/31/2026 and has an option to renew for a five year term with a rental increase to $5,000/month. Located 1/2 mile NW of S Cannon Blvd and 2.8 miles N of the interchange with I-85. The single story building was built in 1984 and features an adjacent 56 space parking lot and additional .5 acres of land at 601 Hillside Drive. Building has direct frontage on Dale Earnhardt Blvd with +/-16,000 VPD.
The owner of this property property has finalized a Brownfields agreement with the North Carolina Department of Environmental Quality which provides liability protection in connection with certain impacts caused by prior owners. The Brownfields agreement entitles this property to a real property tax abatement for a five-year period if the property is redeveloped.
The owner of this property property has finalized a Brownfields agreement with the North Carolina Department of Environmental Quality which provides liability protection in connection with certain impacts caused by prior owners. The Brownfields agreement entitles this property to a real property tax abatement for a five-year period if the property is redeveloped.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
3,238 SF
Building Class
C
Year Built
1984
Price
$650,000
Price Per SF
$201
Cap Rate
7%
NOI
$45,500
Tenancy
Single
Building Height
1 Story
Typical Floor Size
3,238 SF
Building FAR
0.09
Lot Size
0.85 AC
Zoning
B-1
Parking
56 Spaces (10 Spaces per 1,000 SF Leased)
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $291,950 | |
| Land Assessment | $236,520 | Total Assessment | $528,470 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$236,520
Improvements Assessment
$291,950
Total Assessment
$528,470
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1473 Dale Earnhardt Blvd
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