Stand-Alone Storefront
For Sale
$550,000
151 S Broad Street, Mooresville, NC 28115
Existing commercial building with surface parking and redevelopment potential in downtown Mooresville.
Property Size1,522 SF
Price / SF$361.37
Days on Market67
Property Features for 151 S Broad Street
General Information
Standard status
Active
Size
1,522 SF
Property subtype
Retail
Additional Details
Land Use
retail
Building Details
Building Size
1,522 SF
Year Built
1967
Buildings
1
Listing Agency:
Linville Team Partners
(828) 406-6858
Listed By:
Taryne Seatz · License #268640
Source:
Ltpcommercial
Added: Jun 25
Changed: Aug 29
Last Checked: Aug 30 at 2:38PM
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 Linville Team Partners
Investment Insights
Based on property information with market context.
This stand-alone storefront building contains approximately 1,522 SF and includes some surface parking. Constructed in 1967, the property is positioned for retail redevelopment in a downtown setting.
The building sits just off Main Street in Mooresville, surrounded by restaurants, bars, and retailers. Station Two22 luxury apartments are located across Broad Street, adding residential presence directly opposite the property.
The building sits just off Main Street in Mooresville, surrounded by restaurants, bars, and retailers. Station Two22 luxury apartments are located across Broad Street, adding residential presence directly opposite the property.
Key Highlights
- Approximately ±1,522 SF stand‑alone storefront building
- Some surface parking included
- Constructed in 1967
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
$18,685
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
3.40%
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%
$373,700
$373.7K
Cap Rate 7%
$266,929
$266.9K
Cap Rate 9%
$207,611
$207.6K
Market Conditions
NOI Build-Up for 1,522 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
$28.9K $18.96/SF
− Vacancy
−$2.2K −$1.42/SF
EGI
$26.7K $17.54/SF
− OpEx
−$8.0K −$5.26/SF
NOI
$18.7K $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%
$373,700
Cap Rate 7%
$266,929
Cap Rate 9%
$207,611
Alternative Uses
Best Use
Retail
$266.9K
$233.6K – $311.4K
NOI $18,685 @ 7.0% cap · market cap 3.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$479.0K
$419.2K – $558.9K
NOI $33,533 @ 7.0% cap · market cap 6.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
910
Businesses Nearby
44k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 68%
Dining 31%
Electronics 1%
Whataburger
Dining
9,189 visits/mo
0.0 miles
Circle K
Shops & Services
8,330 visits/mo
0.3 miles
Bank of America
Shops & Services
7,371 visits/mo
0.4 miles
Wells Fargo
Shops & Services
6,181 visits/mo
0.2 miles
Famous Toastery
Dining
4,363 visits/mo
0.2 miles
Demographics for 28115, NC
43,413
Population
17,427
Households
2.5
Avg Household Size
38
Median Age
37%
College-Educated
94%
High-School Grad
74.6 sq mi
ZIP Area
582
Density / Sq Mi
$86,724
Median Household Income
$46,921
Median Earnings
$1,193
Median Rent
$330,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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 - Existing commercial building with surface parking and redevelopment potential in downtown Mooresville.
Where is this storefront property located?
The property is located at 151 S Broad Street Mooresville, NC.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Approximately ±1,522 SF stand‑alone storefront building; Some surface parking included; Constructed in 1967
