This exceptional 22,619-square-foot flex space in Kannapolis, NC, presents a compelling owner-user or sale-leaseback opportunity. Located at 1216 S Main St, this Class B industrial property boasts a prime location with high visibility, experiencing over 10,000 vehicles per day. The property, built in 1950 and extensively renovated in 2023 for nearly $1 million, features a single-story building on a 0.94-acre lot. The improvements include a new +/- 2,500 square foot second floor addition with six offices, two boardrooms, a full bath, two half baths, and a kitchen. Additional upgrades encompass a new roof, drainage system, fresh paint, new asphalt, and a new HVAC system. The main level offers over 10,000 square feet of conditioned space, perfect for warehouse, showroom, or office needs. The property also includes a fenced laydown yard and one loading dock. Zoned GC, this turnkey property is ready for immediate occupancy. The asking price is $2,133,000 ($94 per square foot) with a triple net (NNN) lease structure. The property is currently 100% occupied, with the lease expiring on December 31, 2024. This represents a rare chance to acquire a move-in ready asset in a stable growth market, minutes from downtown Kannapolis. Three-phase power is available.
Highlights
Freshly painted building with new asphalt and updated HVAC system.
Secure, fenced rear laydown yard.
Available for immediate occupancy or sale-leaseback with a triple-net (NNN) lease.
$191,970 Year 1 Net Operating Income (NOI) representing a 9% capitalization rate with annual rent escalations.
$1 million in recent renovations.
High traffic location with approximately 10,000 vehicles per day.
Industrial property - 22,619 SF Flex Space, Owner-User Opportunity
Where is the industrial property located?
The property is located at 1216 Main St Kannapolis, NC.
What is the asking price?
The asking price for this property is $2,133,000.
What are key features of this property?
This property features: Freshly painted building with new asphalt and updated HVAC system.; Secure, fenced rear laydown yard.; Available for immediate occupancy or sale-leaseback with a triple-net (NNN) lease.
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Contacts
Jaben Starnes, CCIM
Wayne Starnes
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Main St Kannapolis, NC 28081
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Main St Kannapolis, NC 28081
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1216 Main St
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