Office Units with Private
For Sale
$518,000
107 Kilson Drive #202 & 204, Mooresville, NC 28117
Tenant-occupied office condo with conference, break-room, and open workspace areas.
Property Size1,953 SF
Price / SF$265.23
Days on Market396
Property Features for 107 Kilson Drive #202 & 204
General Information
Standard status
Active
Size
1,953 SF
Property subtype
Commercial
Additional Details
Cap Rate
5.5%
Highway Access
Yes
Amenities
conference room
break room
Building Details
Year Built
2004
Tenancy
Single
Owner Occupied
No
Listing Agency:
Ivester Jackson Christie's
(704) 655-0586
Listed By:
Jordan Jackson · License #314456
Source:
Techrealtyllc
Added: Jul 16, 2025
Changed: Aug 13
Last Checked: Aug 14 at 2:53PM
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 Ivester Jackson Christie's
Investment Insights
Based on property information with market context.
This office condominium comprises multiple private offices alongside a conference room, break room, and open-plan workspace. The configuration provides a mix of enclosed and shared areas within the commercial suite, which is located at 107 Kilson Drive #202 & 204 in Mooresville, North Carolina. Built in 2004, the property is currently occupied by a tenant under a lease with 1 year remaining. Contractual annual rent escalations are set at 3%, and the reported cap rate is 5.5%. The location is described as being off Charlotte Highway, providing a highway-oriented setting for the office property.
Key Highlights
- Multiple private offices with conference room, break room, and open workspace
- Tenant‑occupied office condominium at 107 Kilson Drive #202 & 204
- 5.5% cap rate
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
$34,252
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
6.61%
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%
$685,040
$685.0K
Cap Rate 7%
$489,314
$489.3K
Cap Rate 9%
$380,578
$380.6K
Market Conditions
NOI Build-Up for 1,953 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
$50.9K $26.04/SF
− Vacancy
−$5.2K −$2.66/SF
EGI
$45.7K $23.38/SF
− OpEx
−$11.4K −$5.85/SF
NOI
$34.3K $17.54/SF
Area
Iredell County, NC
Vacancy
10.20%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
25.00%
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%
$685,040
Cap Rate 7%
$489,314
Cap Rate 9%
$380,578
Alternative Uses
Best Use
Office B
$489.3K
$428.2K – $570.9K
NOI $34,252 @ 7.0% cap · market cap 6.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$614.7K
$537.9K – $717.1K
NOI $43,028 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
978
Businesses Nearby
Explore this area
Business Placement
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 Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Tenant-occupied office condo with conference, break-room, and open workspace areas.
Where is this office units located?
The property is located at 107 Kilson Drive #202 & 204 Mooresville, NC.
What is the asking price?
The asking price for this property is $518,000.
What are key features of this property?
This property features: Multiple private offices with conference room, break room, and open workspace; Tenant‑occupied office condominium at 107 Kilson Drive #202 & 204; 5.5% cap rate
