Subdividable Office
For Sale
Contact for pricing
116 Morlake Dr, Mooresville, NC 28117
Class A second-floor suite with elevator access, including common areas, bathrooms, and a subdividable layout.
Property Size1,600 SF
Price / SF$261.88
Days on Market172
Property Features for 116 Morlake Dr
General Information
Standard status
Active
Size
1,600 SF
Class
A
Property subtype
OFFICE
Amenities
secure building with keypad entry
elevator
Listing Agency:
Keller Williams Lake Norman
(704) 577-5979
Listed By:
Chuck Young · License #272367
Source:
Moodyscre
Added: Feb 9
Changed: Jul 26
Last Checked: Jul 26 at 2:47PM
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 Keller Williams Lake Norman
Investment Insights
Based on property information with market context.
Class A, fully up-fitted office suite totaling approximately 1,600 square feet, including common area, bathrooms, and the lobby. The space can be subdivided into two units of approximately 900 square feet and 700 square feet. The men’s and ladies’ restrooms are fully maintained.
Located on the second floor with elevator access within a secure building featuring keypad entry. The property includes common building access elements and is currently set up to support two separate suites if subdivided.
Both resulting units were recently leased for three years.
Located on the second floor with elevator access within a secure building featuring keypad entry. The property includes common building access elements and is currently set up to support two separate suites if subdivided.
Both resulting units were recently leased for three years.
Key Highlights
- Class A office suite totaling approx. 1,600 SF on the second floor with elevator access
- Suite can be subdivided into approx. 900 SF and 700 SF units
- Includes common area, bathrooms, and a lobby; Men’s and Ladies’ bathrooms fully maintained
Financial Insights For Office B
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 | $41.7k | $26.04 |
| − Vacancy | −$4.2k | −$2.66 |
| EGI | $37.4k | $23.38 |
| − OpEx | −$9.4k | −$5.85 |
| NOI | $28.1k | $17.54 |
1,600 SF · lease $26.04/SF/yr · vacancy 10.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$400.9K
$350.8K – $467.7K
NOI $28,061 @ 7.0% cap · market cap 6.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$503.6K
$440.6K – $587.5K
NOI $35,251 @ 7.0% cap · market cap 8.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
885
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
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Frequently Asked Questions
What type of property is this?
Office units - Class A second-floor suite with elevator access, including common areas, bathrooms, and a subdividable layout.
Where is this office units located?
The property is located at 116 Morlake Dr Mooresville, NC.
What is the asking price?
The asking price for this property is $419,000.
What are key features of this property?
This property features: Class A office suite totaling approx. 1,600 SF on the second floor with elevator access; Suite can be subdivided into approx. 900 SF and 700 SF units; Includes common area, bathrooms, and a lobby; Men’s and Ladies’ bathrooms fully maintained
