CNT composites demonstrate sensory materials properties such as piezoresistivity, chemical and bio selectivity and they can detect structural deterioration, chemical contamination and bio signal by means of their impedance measurement (resistance and capacitance). In this study, electrical impedance characteristics of CNT composite electrodes are studied to simultaneously detect mechanical and chemical symptoms in engineering applications. We measured variations of electrical resistance and capacitance values of CNT composite electrodes under static load for mechanical sensing behavior and under the change of buffer solution amount for chemical sensing behavior. At the mechanical sensing behavior test, the resistance values changed quite linearly under bending and compression loads while the capacitance value varied within small range with invalid relationship to the loads. At the chemical sensing behavior investigation, the electrode's capacitance showed drastic change while the resistance value only changed within few percent range. The independently changing pattern of electrical impedance parameters according to mechanical strain and chemical effect can provide new opportunities to design a novel multifunctional sensor that can simultaneously monitor mechanical and chemical behaviors of a target system.