Web site lists K-Town for sale
By Joanie Morris
A listing on LoopNet.com shows Melvin Vanderburg and Fred Morrison are selling the K-Town Furniture property at 136 Oak Ave. for $7 million.
The listing is for 2.85 acres “situated in the heart of the new North Carolina Research Campus.”
It says the location is prime for a hotel, office building or medical laboratory and can accomodate a six story building. Owners are asking $2,456,140.35 an acre — or $7 million — for the property.
Owner Vanderburg was not available for comment at press time.
According to Richard Smith, planning director for the city of Kannapolis, the property is in what is considered the center city district of the Unified Development Ordinance.
“It has heavy restrictions as far as the village concept goes,” Smith said. “It has to match the adjacent properties.”
Smith added that for the listing to say outright that it will be fine for a six story building, “that’s sort of misleading.”
The maximum height allowed in the center city district is 72 feet — just over six stories.
“They could do up to six stories,” Smith said. “That will depend on the use and merit …
“There are other things that factor into that,” he added.
Smith said the owners of K-Town Furniture have inquired in the past about other locations in the city. They own property on Dale Earnhardt Boulevard in Kannapolis.
However, “nothing else has occurred with that,” Smith said.
The listing is through a real estate agent in Huntersville, Andrew Nicholson.
Contact Joanie Morris at 704-932-3336 or jmorris@ kannapoliscitizen.com.