Freestanding Retail
For Sale
Contact for pricing
107 Argus Lane, Mooresville, NC 28117
Class A property within an anchored shopping center with retail, office, and institutional use potential.
Property Size14,673 SF
Price / SF$272.61
Days on Market9
Property Features for 107 Argus Lane
General Information
Standard status
Active
Size
14,673 SF
Class
A
Total Parking Spaces
70
Property subtype
Retail
Zoning
CM
Occupancy
60%
Investment Type
Owner/User
Building Details
Year Built
2008
Listing Agency:
APG Advisors
Listed By:
Colby Mitchell · License #NC 335176
(919) 582-3143
Source:
Crexi
Added: Aug 25
Changed: Sep 1
Last Checked: Sep 1 at 9:23PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of APG Advisors
Investment Insights
Based on property information with market context.
This Class A freestanding retail property contains ±14,673 SF and was constructed in 2008 on a 1.68-acre site. The building includes ±70 surface parking spaces and is zoned CM, identified as Village Center Node (Corridor Mixed-Use). The zoning supports retail, office, or institutional uses, subject to applicable shopping center declarations and existing use restrictions.
The property is part of The Village at Byers Creek, a Harris Teeter-anchored shopping center in Mooresville. It has visibility along NC-150/River Highway, which carries 24,000 VPD, and Perth Road, reported at 11,500 AADT. Co-tenancy includes ULTA Beauty, Barnes & Noble, Outback Steakhouse, and Whataburger. Up to 5,600 SF is available for lease, providing an additional leasing component within the property.
The property is part of The Village at Byers Creek, a Harris Teeter-anchored shopping center in Mooresville. It has visibility along NC-150/River Highway, which carries 24,000 VPD, and Perth Road, reported at 11,500 AADT. Co-tenancy includes ULTA Beauty, Barnes & Noble, Outback Steakhouse, and Whataburger. Up to 5,600 SF is available for lease, providing an additional leasing component within the property.
Key Highlights
- ±14,673 SF freestanding retail building on a 1.68‑acre site
- ±70 surface parking spaces; built in 2008
- Located in The Village at Byers Creek, anchored by Harris Teeter
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$180,135
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.50%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,602,700
$3.6M
Cap Rate 7%
$2,573,357
$2.6M
Cap Rate 9%
$2,001,500
$2.0M
Market Conditions
NOI Build-Up for 14,673 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$278.2K $18.96/SF
− Vacancy
−$20.9K −$1.42/SF
EGI
$257.3K $17.54/SF
− OpEx
−$77.2K −$5.26/SF
NOI
$180.1K $12.28/SF
Area
Iredell County, NC
Vacancy
7.50%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,602,700
Cap Rate 7%
$2,573,357
Cap Rate 9%
$2,001,500
Alternative Uses
Best Use
Retail
$2.57M
$2.25M – $3.00M
NOI $180,135 @ 7.0% cap · market cap 4.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.62M
$4.04M – $5.39M
NOI $323,276 @ 7.0% cap · market cap 8.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
217
Businesses Nearby
49k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 55%
Shops & Services 29%
Dining 12%
Beauty & Spa 3%
Harris Teeter
Groceries
27,231 visits/mo
0.2 miles
Dollar Tree
Shops & Services
13,841 visits/mo
0.1 miles
Jeremiah's Italian Ice
Dining
3,161 visits/mo
0.2 miles
Johnny's New York Style Pizza
Dining
2,890 visits/mo
0.1 miles
Great Clips
Beauty & Spa
1,519 visits/mo
0.2 miles
Demographics for 28117, NC
46,917
Population
21,528
Households
2.2
Avg Household Size
42
Median Age
55%
College-Educated
98%
High-School Grad
39.1 sq mi
ZIP Area
1,200
Density / Sq Mi
$109,310
Median Household Income
$53,706
Median Earnings
$1,593
Median Rent
$567,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Class A property within an anchored shopping center with retail, office, and institutional use potential.
Where is this retail space located?
The property is located at 107 Argus Lane Mooresville, NC.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: ±14,673 SF freestanding retail building on a 1.68‑acre site; ±70 surface parking spaces; built in 2008; Located in The Village at Byers Creek, anchored by Harris Teeter
