Jaben Starnes, CCIM - Multi Tenant Investment 700 N Cannon Blvd 21,974 SF 99% Leased Retail Building Kannapolis, NC 28083 $1,798,000 ($81.82/SF) 8.11% Cap Rate

700 N Cannon Boulevard offers the unique opportunity to own an exceptional passive investment property boasting superior highway visibility and proximity to Downtown Kannapolis. This freshly renovated, 21,974-square-foot property includes new paint, flooring, exposed ceilings, new HVAC, lighting, and more. The property has ample frontage along US Highway 29, offering prime exposure to over 20,000 daily drivers, multiple access points, and plenty of parking. Investors will benefit from Cabarrus County's strong population growth, proximity to the area's largest employment nodes, and stabilized 100% occupancy. 700 N Cannon Boulevard is home to a diverse tenant mix and provides industrial primarily/flex space at approximately 15,000 square feet, with the remainder as office/retail space.

The property lies within one of the most densely developed and populated corridors of Kannapolis, North Carolina. Less than a quarter of a mile south of the property is the intersection of Cannon Boulevard and Lane Street, a major travel artery that sees over 30,000 vehicles per day. Lane Street also serves as one of the primary roadways connecting residents and visitors to the Interstate 85 corridor. Residents within a 1-mile radius of the property provide an already established and sustainable consumer base; these residents tallied a consumer spending total of over $82 million in 2023.

Kannapolis is a vibrant, rapidly growing town within Cabarrus and Rowan counties. The locale is part of the healthy Cabarrus County retail submarket known for its proximity and easy access to Concord and Charlotte. Kannapolis' reputation as a business-friendly region providing quality living and big-city amenities continues to grow as the larger Charlotte MSA expands and maintains success. Recently, Kannapolis was recognized as one of the Top 15 Cities in the US for corporate headquarters tenancy. The city has transformed from a textiles and manufacturing economy to a research hub that values investing in the community to enhance its residents' and businesses' chances of economic success.