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    Renovated Mixed-Use Investment Property Title is generated by Realmo AI

    166-186 N Broad Street, Mooresville, NC 28115

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    For Sale
    $5,475,000

    SINGLE_FAMILY - Mooresville, NC

    Type:Retail
    Lot size:
    0.79 Acres
    Added:
    Jun 12, 2025
    Days on Market:
    341
    Last Refresh:
    May 18 at 11:06 am

    Property Features for 166-186 N Broad Street

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Zoning
    DTWN
    Rooms
    Basement
    Parking
    36
    Basement
    Sump Pump, Exterior Entry
    Standard status
    Active
    APN
    4667121475
    Lot size
    0.79 Acres

    Taxes and HOA fees

    Tax Description
    N BROAD ST

    Building Details

    Year built
    1914

    We can help!

    Listing Contact
    Kristin Thompson

    Listing agent Kristin Thompson

    Listing office EXP Realty LLC Mooresville 106 Langtree Village Dr Suite 301, Mooresville, NC

    Listing date Jun 12, 2025

    MLS# 4267317 Listing URL

    Copyright © 2026 Canopy MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Fully leased mixed‑use property with 17 tenants, providing immediate cash flow.
    • Located in Mooresville, NC, one of the fastest‑growing communities in North Carolina.
    • Potential for increased returns as rents have room to grow to meet market rates.
    • Renovated in 2020.
    • Features a mix of 8 street‑level retail spaces plus a workshop, and 8 residential apartments (four 1‑bedroom and four 2‑bedroom).
    • Located in Iredell County, which has a dynamic business environment and strong economic drivers.

    Overview

    Broad Street Place, located at 166-186 N Broad St in Mooresville, NC, was completely renovated in 2020. This mixed-use property is situated in a rapidly growing community in North Carolina. The property is fully leased with 17 tenants, providing immediate cash flow and potential for increased returns as rents have room to grow to meet market rates. The property includes eight street-level retail spaces spanning both sides of the building, plus a stand-alone workshop space, all of which are currently occupied. The upper level features eight apartments spread across three separate entryways, including four single-bedroom units and four two-bedroom units. The property is located on a lot of 0.79 acres. Mooresville, located in Iredell County, offers an exceptional opportunity for commercial investment due to its dynamic business environment, steady population growth, and strong economic drivers.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mooresville
    County
    Iredell
    State
    North Carolina
    Longitude
    -80.812011
    Latitude
    35.584065

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    FAQs

    What type of property is this?
    Mixed-use property - Fully leased mixed-use property in Mooresville, North Carolina.
    Where is this mixed-use property located?
    The property is located at 166-186 N Broad Street Mooresville, NC.
    What is the asking price?
    The asking price for this property is $5,475,000.
    What are key features of this property?
    This property features: Fully leased mixed‑use property with 17 tenants, providing immediate cash flow.; Located in Mooresville, NC, one of the fastest‑growing communities in North Carolina.; Potential for increased returns as rents have room to grow to meet market rates.
    (704) 562-4505
    We can help!
    Listing Contact
    Kristin Thompson
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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