Adjacent Office
For Sale
Contact for pricing
136 Corporate Park Drive, Mooresville, NC 28117
Two separately metered condominiums offer private offices, reception areas, and flexible occupancy or leasing configurations.
Property Size3,600 SF
Price / SF$305.56
Days on Market125
Property Features for 136 Corporate Park Drive
General Information
Standard status
Active
Size
3,600 SF
Class
A
Property subtype
Retail, Office
Additional Details
Asking Price
$1,100,000
Office Units
2
Building Details
Buildings
1
Listing Agency:
SouthMark Properties
(704) 650-9799
Listed By:
Tami Little · License #NC
Source:
Crexi
Added: Apr 28
Changed: Aug 29
Last Checked: Aug 29 at 9:38PM
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 SouthMark Properties
Investment Insights
Based on property information with market context.
This offering combines two adjacent office condominiums totaling 3,600 SF. Each unit has its own entrance, electrical meter, and tax parcel, while an interior connection currently links the spaces. Condo A includes 7 private offices, reception and waiting space, and a break area. Condo B provides 4 private offices, a large open work area, a break area, and a restroom with shower. The connecting door can be removed to restore fully separate layouts.
The property is within a four-building office park directly across from the Lowes YMCA in Mooresville. Glass windows extend around the building, and abundant parking is available. The separate parcels and utilities allow the condominiums to be occupied together, used independently, or configured with one unit for occupancy and the other for leasing.
The property is within a four-building office park directly across from the Lowes YMCA in Mooresville. Glass windows extend around the building, and abundant parking is available. The separate parcels and utilities allow the condominiums to be occupied together, used independently, or configured with one unit for occupancy and the other for leasing.
Key Highlights
- Two adjacent office condominiums totaling 3,600 SF
- Condo A includes 7 private offices plus reception, waiting, and break areas
- Condo B features 4 private offices, a large open area, break area, and restroom shower
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
$63,137
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
5.74%
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%
$1,262,740
$1.3M
Cap Rate 7%
$901,957
$902.0K
Cap Rate 9%
$701,522
$701.5K
Market Conditions
NOI Build-Up for 3,600 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
$93.7K $26.04/SF
− Vacancy
−$9.6K −$2.66/SF
EGI
$84.2K $23.38/SF
− OpEx
−$21.0K −$5.85/SF
NOI
$63.1K $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%
$1,262,740
Cap Rate 7%
$901,957
Cap Rate 9%
$701,522
Alternative Uses
Best Use
Office B
$902.0K
$789.2K – $1.05M
NOI $63,137 @ 7.0% cap · market cap 5.74%
Second Best
Healthcare Medical
$716.3K
$626.8K – $835.7K
NOI $50,140 @ 7.0% cap · market cap 4.56%
Theoretical Best
Office A
$1.13M
$991.4K – $1.32M
NOI $79,315 @ 7.0% cap · market cap 7.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
1,601
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 - Two separately metered condominiums offer private offices, reception areas, and flexible occupancy or leasing configurations.
Where is this office units located?
The property is located at 136 Corporate Park Drive Mooresville, NC.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Two adjacent office condominiums totaling 3,600 SF; Condo A includes 7 private offices plus reception, waiting, and break areas; Condo B features 4 private offices, a large open area, break area, and restroom shower
