167 Union StConcord, NC 28025

Property Details for 167 Union St

Year built

1962

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.29 AC

Property size (Sq ft)

3,520 SF

Zone code

C-1

Property type

Office properties

Property subtype

Other office properties

APN

5630 06 1758

APU

5630061758

Description

This exceptional two-story, 3,000 square foot building presents a unique investment opportunity in Concord, NC's vibrant downtown. Located on Union St S, near Washington St, this property boasts a prime location within the historic district, zoned C-1, allowing for diverse uses including retail, restaurant, medical office, or creative office space. The building features 22 parking spaces—a rare find in the downtown area—and attractive terrazzo flooring on the upper level. The open floor plan offers flexibility for customization, and the potential for outdoor patio or deck space adds further appeal, particularly for restaurant concepts. This property benefits from significant recent investments in the area, including the Novi Apartments and a $100 million courthouse expansion and renovation, driving increased foot traffic and community vibrancy. Streetscape improvements enhance walkability and aesthetics, complementing the historic charm. Its proximity to city and county government offices and other downtown amenities ensures convenient access. This is an ideal opportunity to establish a thriving business in a rapidly growing and attractive downtown setting. The APN is 56300617580000.

• CAP approach

  CAP return

  Valuation

  6%

  $873,503

  6.5%

  $806,311

  7%

  $748,717

• Comparable approach

  Method

  Valuation

  Relative Method

  $596,077

  Geo Method

  $596,077

• Alternative Use

  Use

  Valuation

  Residential

  $999,825

  Hospitality

  $915,834

  Educational

  $761,964

  Medical

  $788,169

  Retail

  $1,185,276

Location Insight

City

Concord

County

Cabarrus

State

North Carolina

Latitude

35.407

Longitude

-80.5768

CBSA code

16740

CBSA name

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

Property Tax & Assessments

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