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Historic Cannon Mill Mixed Use Building NN Leases

$1,900,000

165 Brumley Avenue NE, Concord, NC 28025

Pending
Last Updated: 01/04/2021

130,450

Pro Forma NOI

6.87

Pro Forma Cap Rate

Details:
Pro Forma NOI :    $130,450
Pro Forma Cap Rate :    6.87%
Building Size:    51,617 sqft
Lot Area:    2.71 acres
Lease Type:    Double Net
Year Built:    1930
Price Per Sqft:    $36.83
Roof & Structure :    Landlord's Responsibility
HVAC, Repairs & Maintenance,Common Area :    Tenant's Responsibility
Taxes, Insurance & Utilities :    Tenant's Responsibility
Highlights:
  • The Historic Cannon Mill Cotton Plant was Renovated and Converted to a Mixed-Use Space in 2018
  • The Property Has Recently Been Rezoned to Center City (CC) and is Walking Distance to Shops and Restaurants in Downtown Concord, NC
  • HVAC, Plumbing, Electrical Replacement and Upgrades Were Done in 2018 and 2019; Partial Roof Replacement Was Made in 2019
  • Award Winning Southern Strain Beer Company Occupies 30,623 SF With a Brew Pub, Restaurant and Production Facility; It Opened in 2018 and Expanded in 2020
  • Carolina Interiors, Long Time Cabarrus County Fine Furniture Merchant, Relocated From Downtown Kannapolis to This Location in 2019
  • Future 70-Unit Multi-Family and Retail Development Planned Adjacent to the Property Located on Cabarrus Avenue & Reed St
  • Strong Demographics – There are Over 237,362 Residents With an Average Household Income of $78,400 Within a 10-Mile Radius of the Property
  • Situated 3-Miles to the Atrium Health Cabarrus Regional Hospital and Less Than 12-Miles to the Charlotte Motor Speedway and the Concord Mills Mall
  • Located 25-Miles to Charlotte’s Downtown
  • Concord is the Second-Largest City in the Charlotte Metropolitan Area Which is Home to 2,569,213 People
  • Nearby Tenants Include: Food Lion, CVS Pharmacy, Aaron’s, Family Dollar, Wells Fargo, SunTrust, Taco Bell, Dunkin’, Big Lots, Walgreens and More
Description:

Sands Investment Group is Pleased to Exclusively Offer For Sale the Historic Cannon Mill Mixed-Use Building #17. This 51,617 SF Former Cotton Mill Was Converted to a Mixed-Use Retail and Office in 2018. Anchor Tenant Southern Strain Brewery Has 8 Years Remaining on a 30,623 SF Lease Which Includes a Restaurant With a Full Kitchen, Brewpub, Beer Production & Distribution Space. The Remaining Space is an Office & Retail Showroom Including Carolina Interiors Fine Furniture With 9 Years Remaining on the Lease.

In Cooperation With Sands Investment Group North Carolina, LLC Lic. # 29362
BoR: Chris Sands - NC Lic. # 300021

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Documents:
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Offering Memorandum
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Location
Gallery