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    Lake Norman Waterfront Lot Title is generated by Realmo AI

    142 Mimosa Road, Statesville, NC 28677

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    Claim this Listing
    For Sale
    $95,000

    LAND - Statesville, NC

    Lot size:
    0.41 Acres
    Added:
    Nov 13, 2024
    Days on Market:
    545
    Last Refresh:
    May 12 at 7:06 am

    Property Features for 142 Mimosa Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Exterior features
    Dock - Floating
    Standard status
    Active
    APN
    4710-67-3950.000
    Lot size
    0.41 Acres

    Taxes and HOA fees

    Tax Description
    L90 SPRING SHORE PB 11-3-3A 3B

    Utilities

    Sewer type
    Septic Needed
    Water source
    Well
    Water front
    1

    We can help!

    Listing Contact
    Lorie Stadick
    Lorie Stadick

    Listing agent Lorie Stadick License #276799

    Listing office ERA Live Moore 19701 W. Catawba Ave, Suite C, Cornelius, NC

    Listing date Nov 13, 2024

    MLS# 4199997 Listing URL

    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

    • Waterfront property on Lake Norman with a private dock.
    • Located in a quiet cove with direct access to Lake Norman's recreational activities.
    • No HOA fees.
    • Community amenities include a boat ramp, dock, day slips, and a community well.
    • Sloping terrain is ideal for building a basement home.
    • Convenient access to downtown Troutman, shops, restaurants, Lake Norman State Park, and major interstates (I‑77 & I‑40).

    Overview

    This 0.41-acre waterfront property is located at 142 Mimosa Rd in Statesville, NC, within the Spring Shore community on Lake Norman. The lot features a dock and sloping terrain, suitable for building a basement home. Situated in a quiet cove off the main channel, the property provides direct access to Lake Norman's recreational activities and natural surroundings. Spring Shore residents benefit from a community boat ramp, dock, day slips, and a community well with tap fees. The location offers convenient access to shops, restaurants, Lake Norman State Park, Fort Dobbs Historic Site, and Rescue Ranch. Major interstates 77 and 40 are also easily accessible, connecting to Mooresville, Statesville, and Huntersville. This property presents an opportunity to build a lakefront home in a rapidly developing area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Hotel & Motel Computer & Electronic Repair Bakery Tech Support Center Florist

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

    Location Insight

    • Map
    • Local Demand
    City
    Statesville
    County
    Iredell
    State
    North Carolina
    Longitude
    -80.965389
    Latitude
    35.679221

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    FAQs

    What type of property is this?
    Residential land & home lot - Waterfront lot on Lake Norman with dock and community amenities.
    Where is this residential land & home lot located?
    The property is located at 142 Mimosa Road Statesville, NC.
    What is the asking price?
    The asking price for this property is $95,000.
    What are key features of this property?
    This property features: Waterfront property on Lake Norman with a private dock.; Located in a quiet cove with direct access to Lake Norman's recreational activities.; No HOA fees.
    (704) 941-1029
    We can help!
    Listing Contact
    Lorie Stadick
    Lorie Stadick
    Real Estate License ID: 276799
    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.

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