Two-Suite Mixed-Use
New
For Sale
$1,350,000
188 N Main Street, Mooresville, NC 28115
A ground-floor beer and wine bar is paired with a leased photography studio on the upper level.
Property Size3,880 SF
Price / SF$347.94
Days on Market6
Property Features for 188 N Main Street
General Information
Standard status
Active
Size
3,880 SF
Property subtype
Commercial
Additional Details
Tenant in Place
Yes
Building Details
Building Size
3,880 SF
Year Built
1906
Buildings
1
Stories
2
Units
2
Listing Agency:
Carolina Realty Advisors
Listed By:
Rob Cassam · License #164661
(704) 533-3074
Source:
Geoffcampbell
Added: Oct 19
Changed: Oct 23
Last Checked: Oct 23 at 2:13PM
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 Carolina Realty Advisors
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Investment Insights
Based on property information with market context.
Built in 1906, this 3,880-square-foot mixed-use property contains two suites. A beer and wine bar occupies the main level, while the second-floor space is leased to a photography studio. The upper suite provides 1,940 square feet of heated space and has a separate address of 106 W Moore Ave.
The building stands at the corner of N Main Street and Moore Street in Mooresville, with its primary address at 188 N Main Street.
The building stands at the corner of N Main Street and Moore Street in Mooresville, with its primary address at 188 N Main Street.
Key Highlights
- 3,880‑square‑foot building constructed in 1906
- Two suites: a main‑level beer and wine bar and an upstairs photography studio
- Leased second‑floor studio includes 1,940 SF of heated space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,047
Cap Rate
5.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,360,940
$1.4M
Cap Rate 7%
$972,100
$972.1K
Cap Rate 9%
$756,078
$756.1K
Market Conditions
NOI Build-Up for 3,880 SF
Gross rent
$101.0K $26.04/SF
− Vacancy
−$10.3K −$2.66/SF
EGI
$90.7K $23.38/SF
− OpEx
−$22.7K −$5.85/SF
NOI
$68.0K $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 Rate 5%
$1,360,940
Cap Rate 7%
$972,100
Cap Rate 9%
$756,078
Alternative Uses
Best Use
Office B
$972.1K
$850.6K – $1.13M
NOI $68,047 @ 7.0% cap · market cap 5.04%
Second Best
Specialty Retail
$816.3K
$714.2K – $952.3K
NOI $57,138 @ 7.0% cap · market cap 4.23%
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,484 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
955
Businesses Nearby
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Business Placement
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
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A ground-floor beer and wine bar is paired with a leased photography studio on the upper level.
Where is this mixed-use property located?
The property is located at 188 N Main Street Mooresville, NC.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 3,880‑square‑foot building constructed in 1906; Two suites: a main‑level beer and wine bar and an upstairs photography studio; Leased second‑floor studio includes 1,940 SF of heated space
