For Sale
$2,133,000

1216 Main StKannapolis, NC 28081

22,619 SF Flex Space, Owner-User Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
120
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.

Property Details for 1216 Main St

Property type
Industrial properties, Flex space
Square Feet
22,619 SF
Class
B
Year Built/Renovated
1950/2023
Buildings
1
Stories
1
Lot Size (sq. ft)
40,946 SF
Units
1

Location Insight

City
Kannapolis
County
Cabarrus
State
North Carolina
Latitude
35.4790312
Longitude
-80.6260654
1216 Main St, Kannapolis, North Carolina

FAQs

What type of property is this?
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.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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1216 Main St
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