384 Faggart AveConcord, NC 28027

Property Details for 384 Faggart Ave

Year built

1950

Construction

WOOD

Lot size

1.89 AC

Property size (Sq ft)

16,128 SF

Zone code

I-1

Property type

Industrial properties

Property subtype

Other warehouses

APN

5611 92 2608

APU

5611922608

Description

This Concord, NC industrial property presents a compelling investment or owner-user opportunity. Priced at $2,975,000, this 35,411 square foot building boasts a 7.22% cap rate and a strong NOI of $214,900. Currently 100% occupied by a single tenant under a net-net lease expiring December 31, 2025, the property offers flexibility. The building, constructed in 1950 and renovated in 1987, features six loading docks, six dock-high doors, and ceiling heights ranging from 9 to 20 feet. The 1.89-acre lot provides ample space, complemented by 27 parking spaces. The property is zoned I-1 and includes 2,728 square feet of office space. The warehouse area is unheated. The building is equipped with a sprinkler system and can be subdivided into three bays. The current tenant is responsible for CAM, taxes, insurance, and HVAC, while the landlord maintains the roof and structure. This property offers a unique chance to capitalize on a strong tenant or transition to owner-occupancy upon lease expiration. The property's address is 384 Faggart Ave NW, Concord, NC 28027, and the APN is 5611-92-2608-0000.

• Alternative Use

  Use

  Valuation

  Residential

  $4,450,347

  Hospitality

  $4,076,494

  Educational

  $3,391,595

  Medical

  $3,508,238

  Retail

  $5,275,815

Location Insight

City

Concord

County

Cabarrus

State

North Carolina

Latitude

35.4227

Longitude

-80.614

CBSA code

16740

CBSA name

CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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