$3,625,000
About this home
The Townhomes at Cannon Mills located at 1422 Nottingham Dr., Kannapolis, NC, is a renovated 24-unit townhome community on ±2.22 acres, comprised of two-story 2BR/1.5BA units with back porches in a quiet residential neighborhood. The property offers durable in-place cash flow with a clear path to additional revenue through continued rent optimization toward prevailing submarket levels, including the opportunity to further modernize remaining interiors with upgraded finishes to support premium rent positioning. A recent ±$500,000 capital improvement program materially reduces near-term CapEx and supports long-term performance, including an exterior overhaul (painted brick, metal awnings, shutters, upgraded lighting, gutters), new concrete patios and railings, new windows, upgraded electrical panels, utility optimization, a new asphalt parking lot with wheel bumpers, and targeted HVAC replacements. These improvements enhance curb appeal, operating efficiency, and durability. Kannapolis has emerged as a growth market anchored by the 350-acre North Carolina Research Campus, along with expanding healthcare and advanced manufacturing. The asset is located approximately 2.5 miles from Downtown Kannapolis, less than 5 miles from Atrium Health Cabarrus, and offers convenient access to I-85. It is approximately 25 miles to Uptown Charlotte, providing strong regional demand drivers with a favorable cost-of-living profile. For investors, Townhomes at Cannon Mills combines suburban stability with Charlotte-metro connectivity. It is an upgraded, well-located, income-producing asset positioned for continued performance in a market benefiting from sustained population and income growth. Do not disturb residents.
Property details
- MLS #
- CAR4341255
- Property type
- N/A
- Subdivision
- N/A
- Status
- Active
- Days on market
- 79
- On market date
- January 28, 2026
- Stories
- N/A
- Total bathrooms
- N/A
- Garage spaces
- N/A
- Parking spaces
- 48
- Lot size
- N/A
Location
Get directions →Nearby schools
Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card.
- Enrollment
- 286
- Student:teacher ratio
- 11.9:1
- District
- Kannapolis City Schools
- Enrollment
- 1,309
- Student:teacher ratio
- 16.2:1
- District
- Kannapolis City Schools
- Enrollment
- 1,670
- Student:teacher ratio
- 18.2:1
- District
- Kannapolis City Schools
Walkability
Blended score for Kannapolis's center, calculated by INNOVATE Real Estate from two sources: the EPA's National Walkability Index (street network, transit, land-use mix) and Google Places amenity data (what's actually reachable on foot from this point). 60% EPA National Walkability Index + 40% nearby-amenity density (Google Places).
Market position
How this listing compares to current activity in Kannapolis, from live MLS data.
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Data source: Listing information provided by Canopy MLS (carolina) via Trestle/CoreLogic. Last updated July 8, 2026.
Information herein deemed reliable but not guaranteed; all measurements, school assignments, HOA fees, taxes, and feature lists are approximate and should be independently verified. Equal Housing Opportunity.