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    Renovated Office Space in Mooresville Title is generated by Realmo AI

    106 W Moore Avenue, Mooresville, NC 28115

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    Claim this Listing
    For Lease
    $3,800/Mo $23 SF/Yr (calc)

    COMMERCIAL - Mooresville, NC

    Type:Office
    Property size:
    1,940 SF
    Lot size:
    0.08 Acres
    Added:
    Feb 26, 2026
    Days on Market:
    81
    Last Refresh:
    May 18 at 9:06 am

    Property Features for 106 W Moore Avenue

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Bathrooms
    1
    Rooms
    Bathroom 1
    Parking features
    On Street
    Window features
    Insulated Windows
    Standard status
    Active
    APN
    4667-12-3299.000
    Size
    1,940 SF
    Lot size
    0.08 Acres

    Taxes and HOA fees

    Tax Description
    WD 721-30 N MAIN ST

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    1906
    Number of units
    1
    Flooring type
    Wood
    Building materials
    Brick Full
    Roof type
    Flat

    We can help!

    Listing Contact
    Rob Cassam
    Rob Cassam

    Listing agent Rob Cassam

    Listing office Carolina Realty Advisors 1001 East Blvd Suite B, Charlotte, NC

    Listing date Feb 26, 2026

    MLS# 4350030

    Copyright © 2026 Canopy MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime location in the Historic Downtown District, a hub for entertainment, festivals, shopping, and dining.
    • Fully renovated within the last 8 years, including new electrical, plumbing, roof, and windows. HVAC new in 2025.
    • Spacious 1,940 sq ft of heated space.
    • Lease rate of $3,800/month covers building taxes, insurance, and water/sewer.
    • Historic building (originally the Merchants and Farmers Bank built in 1906) with character.
    • Features central heating and air conditioning.

    Overview

    This second-story office space, located at 106 W Moore Ave in Mooresville, NC, is available for lease. Situated on the corner of N Main Street and Moore Street, above 188 N Main St., the property offers 1,940 square feet of heated space. The lease rate is $3,800 per month, which includes building taxes and insurance, as well as water and sewer. The tenant is responsible for covering electric, internet, trash, and janitorial services. The building is located in the Historic Downtown District, a central area for entertainment, festivals, shopping, and dining. Originally constructed in 1906 as the Merchants and Farmers Bank building, the property has undergone a full renovation within the last 8 years, including new electrical, plumbing, roof, HVAC (scheduled for 2025), and windows. The lot size is 0.0755 acres, located in Iredell County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Critical Fit Recruiting Employment Agency

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mooresville
    County
    Iredell
    State
    North Carolina
    Longitude
    -80.811505
    Latitude
    35.583705

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    FAQs

    What type of property is this?
    Office units - Historic downtown Mooresville office space for lease.
    Where is this office units located?
    The property is located at 106 W Moore Avenue Mooresville, NC.
    What is the lease rate?
    The lease rate is $3,800 /Mo.
    What are key features of this property?
    This property features: Prime location in the Historic Downtown District, a hub for entertainment, festivals, shopping, and dining.; Fully renovated within the last 8 years, including new electrical, plumbing, roof, and windows. HVAC new in 2025.; Spacious 1,940 sq ft of heated space.
    (704) 533-3074
    We can help!
    Listing Contact
    Rob Cassam
    Rob Cassam
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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