Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    156 Statesville Ave Mooresville, NC 28115

    Sponsored
    For Sale
    $297,000

    Downtown Mooresville, 3-bed home, great potential.

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    367
    This exceptional commercial property, situated on a 0.54-acre lot in the vibrant heart of downtown Mooresville, North Carolina, presents a unique investment opportunity. Currently configured as a comfortable three-bedroom, two-bathroom residence, the property offers immediate income potential or the flexibility to be repurposed to suit a variety of commercial ventures. Its central location provides easy access to local businesses, amenities, and a thriving community. The ample parking available on-site is a significant advantage, particularly for businesses requiring client or employee parking. The property's existing structure provides a solid foundation for immediate use or renovation, allowing for customization to meet specific commercial needs. The substantial lot size offers potential for expansion or future development. This property is ideally suited for a variety of commercial uses, including but not limited to, professional offices, retail spaces, or a mixed-use development. Its prime location and versatile nature make it an attractive investment prospect with significant upside potential. The property is priced competitively at $297,000, representing a compelling opportunity for savvy investors seeking a foothold in the dynamic Mooresville market. Further details are available upon request.

    Property Features for 156 Statesville Ave

    General Information

    Property type
    Other commercial real estate
    Lot Size
    23,522 SF

    Building Details

    Year Built
    1898

    We can help!

    Listing Contact
    Wendy Atherton

    Learn more

    Property Insight Report
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Mooresville
    County
    Iredell
    State
    North Carolina
    Longitude
    -80.80447
    Latitude
    35.58791

    Nearby Similar for Sale

    • $6,950,000
      2,597 SF

      22-Acre Estate with Income Potential

      Estate with log home, event barn, and collision center.
      1620 London Rd, Mooresville, NC 28115
      View Details
    • $365,000
      0.01 Acres

      Luxury Garage at Lake Norman

      New construction luxury garage complex for enthusiasts and professionals.
      144 Mccrary Rd, Mooresville, NC 28117
      View Details
    • $475,000
      0.17 Acres

      Versatile Office/Flex Space Available

      Well-maintained office/flex space with reception, offices, bathroom, and kitchenette.
      119 Magnolia Park Dr, Mooresville, NC 28117
      View Details
    • $1,485,000
      0.84 Acres

      Lakefront Home with Private Dock

      Beautifully maintained lakefront home with private boat ramp and dock.
      214 Lakeview Shores Loop, Mooresville, NC 28117
      View Details
    • $105,000
      1.42 Acres

      Land Near Miller Air Park

      Cleared 1.42-acre lot near Miller Air Park landing strip.
      125 Cloud Top Ln, Mooresville, NC 28115
      View Details
    • $450,000
      Pending

      Brawley School Road Commercial Condo

      Versatile 1,120 sq ft office/retail condo in high-traffic Mooresville location.
      110 Charleston Dr, Mooresville, NC 28117
      View Details
    • $5,475,000
      0.79 Acres

      Renovated Mixed-Use Investment Property

      Fully leased mixed-use property in Mooresville, North Carolina.
      166-186 N Broad St, Mooresville, NC 28115
      View Details
    • New
      $529,900
      0.53 Acres

      New Construction Duplex Investment Opportunity

      New construction duplex in Mooresville, designed for cash flow.
      West Park Ave, Mooresville, NC 28115
      View Details
    • New
      $529,900
      0.56 Acres

      New Construction Duplex in Mooresville

      New construction duplex for investors seeking income-producing assets in Mooresville.
      West Park Ave, Mooresville, NC 28115
      View Details
    • $449,000
      0.02 Acres

      Luxury Garage in Deerfield Business Park

      Climate-controlled luxury garage in Mooresville's business hub.
      291 Cayuga Dr, Mooresville, NC 28117
      View Details
    • $556,320

      Modern Office Condo with Amenities

      Modern office condo featuring private offices, conference room, and natural light.
      107 Kilson Dr, Mooresville, NC 28117
      View Details
    • $525,000

      Commercial Office Condo Investment Opportunity

      Tenant-occupied office condo with stable income and growth potential.
      107 Kilson Dr, Mooresville, NC 28117
      View Details

    FAQs

    What type of property is this?
    Commercial real estate - Downtown Mooresville, 3-bed home, great potential.
    Where is this commercial real estate located?
    The property is located at 156 Statesville Ave Mooresville, NC.
    What is the asking price?
    The asking price for this property is $297,000.
    (704) 616-7424
    Request Owner's contact information
    156 Statesville Ave Mooresville, NC 28115
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    156 Statesville Ave
    Mooresville, NC 28115
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    156 Statesville Ave Mooresville, NC 28115
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Wendy Atherton
    (704) 616-7424
    Learn more
    Google sign-in failed. Please try again or use another login method.