Retail and Medical Building
235 Medical Park Rd, Mooresville, NC 28117
Fully leased retail and medical building near commercial district.
Type:Retail, Office
Property size:
12,460 SFPrice / SF:
$301/SF- Added:
- Nov 2, 2024
- Days on Market:
- 577
- Last Refresh:
- May 13 at 8:07 pm
Property Features for 235 Medical Park Rd
General Information
- Standard status
- Active
- Size
- 12,460 SF
- Property subtype
- Retail, Office
Building Details
- Year Built
- 2006
Listing agent Charles Neil License #NC 190580
Listing office Divaris Real Estate Inc Charlotte
Listing date Nov 2, 2024
Source Crexi
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 Divaris Real Estate Inc Charlotte
HighLights
- Fully leased retail and medical building providing stable, income‑generating asset.
- Strategic location near a 1.5 million square foot commercial district.
- Projected 10‑12% population growth in the surrounding area, ensuring sustained demand.
- High traffic location: I‑77 Express (83,000 VPD) and Charlotte Hwy (24,000 VPD).
- Located at the entrance of Mount Mourne Medical Park and .4 miles from Lake Norman Regional Hospital.
- Mix of local and National Tenants.
Overview
This investment opportunity features a fully leased retail and medical building. The property is strategically positioned near a commercial district spanning 1.5 million square feet. It is located off I-77 Express Interchange and Charlotte Hwy, a highly trafficked corridor with 83,000 vehicles per day on I-77 Express and 24,000 vehicles per day on Charlotte Hwy. The property is situated at the entrance of Mount Mourne Medical Park and is 0.4 miles from Lake Norman Regional Hospital and 0.5 miles from Lowe's Home Improvement Headquarters. The tenant mix includes local and national businesses. The surrounding area is projected to experience a population growth of 10-12%, promising sustained demand for retail and medical services. The property size is 12460 square feet.
Local 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 | $324.5k | $26.04 |
| − Vacancy | −$33.1k | −$2.66 |
| EGI | $291.4k | $23.38 |
| − OpEx | −$72.8k | −$5.85 |
| NOI | $218.5k | $17.54 |
12,460 SF · lease $26.04/SF/yr · vacancy 10.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$3.12M
$2.73M – $3.64M
NOI $218,523 @ 7.0% cap · market cap 5.82%
Second Best
Healthcare Medical
$2.48M
$2.17M – $2.89M
NOI $173,539 @ 7.0% cap · market cap 4.63%
Theoretical Best
Office A
$3.92M
$3.43M – $4.58M
NOI $274,519 @ 7.0% cap · market cap 7.32%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Sumo Shack
Restaurant
James G. Zolzer, ...
Physician
Todd J. Adams, ...
Physician
Lakeshore Women's Specialists, ...
Medical Clinic
Orange Cleaners
(Bike/Boat/Book/etc) Store
Location Insight
- Map
- Local Demand
- City
- Mooresville
- County
- Iredell
- State
- North Carolina
- Longitude
- -80.8542024
- Latitude
- 35.5540205
Nearby Similar for Sale
FAQs
What type of property is this?
Retail property - Fully leased retail and medical building near commercial district.
Where is this retail property located?
The property is located at 235 Medical Park Rd Mooresville, NC.
What is the asking price?
The asking price for this property is $3,751,668.
What are key features of this property?
This property features: Fully leased retail and medical building providing stable, income‑generating asset.; Strategic location near a 1.5 million square foot commercial district.; Projected 10‑12% population growth in the surrounding area, ensuring sustained demand.
