Historic Downtown Retail and
111-115 N Main Street Mooresville, NC 28115
New
For Sale
$2,750,000
Historic two-story storefront with mezzanine and full basement, plus an attached single-story warehouse with interior dock.
Property Size10,003 SF
Price / SF$274.92
Days on Market6
Property Features for 111-115 N Main Street
General Information
Standard status
Active
Size
10,003 SF
Property subtype
Commercial
Building Details
Year Built
1900
Listing Agency:
LAKE NORMAN REALTY, INC
(704) 655-2600
Listed By:
NIKKI ROBINSON · License #282886
Source:
Corcoran
Added: Jul 24
Changed: Jul 27
Last Checked: Jul 28 at 6:39AM
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 LAKE NORMAN REALTY, INC
Investment Insights
Based on property information with market context.
This offering includes a two-story in-line commercial building and a single-story attached warehouse. The N. Main Street building contains 4 levels of heated space, featuring soaring 17-foot ceilings, a mezzanine, an entire second floor, and a full basement with 7-foot ceilings. All four levels are served by a freight elevator. Historic interior details referenced in the remarks include hardwood floors, original millwork, and vintage fixtures.
A single-story warehouse occupies the rear of the property with an interior dock, two loading doors, and an 11-foot ceiling height. The warehouse has interior access through the storefront and exterior access along E. Center Avenue.
The building is described as being constructed circa 1899 and is presented as an existing, landmark property in Downtown Mooresville’s Historic District.
A single-story warehouse occupies the rear of the property with an interior dock, two loading doors, and an 11-foot ceiling height. The warehouse has interior access through the storefront and exterior access along E. Center Avenue.
The building is described as being constructed circa 1899 and is presented as an existing, landmark property in Downtown Mooresville’s Historic District.
Key Highlights
- Historic downtown Mooresville commercial building constructed circa 1899 (year built listed: 1900).
- N. Main Street building offers 2,632 SF heated area with 17‑foot ceilings, mezzanine, full basement with 7' ceilings, and a second floor.
- All 4 levels are served by one of the state's oldest freight elevators.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $189.7k | $18.96 |
| − Vacancy | −$14.2k | −$1.42 |
| EGI | $175.4k | $17.54 |
| − OpEx | −$52.6k | −$5.26 |
| NOI | $122.8k | $12.28 |
10,003 SF · lease $18.96/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.75M
$1.54M – $2.05M
NOI $122,803 @ 7.0% cap · market cap 4.47%
Second Best
Warehouse
$1.04M
$908.7K – $1.21M
NOI $72,697 @ 7.0% cap · market cap 2.64%
Theoretical Best
Office A
$3.15M
$2.75M – $3.67M
NOI $220,386 @ 7.0% cap · market cap 8.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Similar Off Market Nearby
- Willow Branch Flowers — 618 N Main St, Mooresville, NC 28115
Frequently Asked Questions
What type of property is this?
Storefront property - Historic two-story storefront with mezzanine and full basement, plus an attached single-story warehouse with interior dock.
Where is this storefront property located?
The property is located at 111-115 N Main Street Mooresville, NC.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Historic downtown Mooresville commercial building constructed circa 1899 (year built listed: 1900).; N. Main Street building offers 2,632 SF heated area with 17‑foot ceilings, mezzanine, full basement with 7' ceilings, and a second floor.; All 4 levels are served by one of the state's oldest freight elevators.
