Say you're transferring a domain to your server, but the site is live somewhere else. You'd like to ensure the site works properly before changing DNS, right? CPanel has an easy way to preview a site by IP address, even if you've set it up on a shared IP.

In WHM, go to Main >> Account Information >> List Accounts
Click on the IP address (3rd column) for the site you would like to preview.

The link takes you to http://SitesIpAddress/~Username/
i.e. A site set to use the IP 66.249.31.89 and username 'example' would be viewable at http://66.249.31.89/~example/ regardless of the domain name assigned to the site.

Notice there is a trailing / on the URL. Without it, it does not work.

Also note that this functionality can be disabled in WHM Main >> Security >> Tweak Security >> mod_userdir Tweak. (You might want to disable this for certain sites/users as bandwidth usage is NOT tracked when accessed this way. i.e. http://www.example.com/hugebigfile.iso downloads do count against example.com's bandwidth usage, but http://66.249.31.89/~example/hugebigfile.iso does not.