Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Drug Store Retail Property Title is generated by Realmo AI

    274 N MAIN ST, Mooresville, NC 28115

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Retail drug store asset offered for sale, noted for 11+ years of history and no rent holiday.

    Type:Retail
    Property size:
    11,487 SF
    Price / SF:
    $281/SF
    Added:
    May 27, 2026
    Days on Market:
    11
    Last Refresh:
    Jun 6 at 3:55 am

    Property Features for 274 N MAIN ST

    General Information

    Standard status
    Active
    Size
    11,487 SF
    Property subtype
    Retail

    Building Details

    Year Built
    1998

    We can help!

    Listing Contact
    Tanner Sanford

    Listing agent Tanner Sanford License #TN 370826

    Listing office Matthews

    Listing date May 27, 2026

    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 Matthews

    HighLights

    • Retail drug store asset built in 1998
    • Noted for 11+ years of sales history
    • Described as having no rent holiday

    Overview

    This for-sale retail drug store property offers a defined, street-oriented commercial setup totaling 11,487 square feet, supported by a documented sales history and a reported ownership/operation span of 11+ years. The public remarks also note “no rent holiday,” which can be relevant to underwriting discussions for tenants and buyers assessing rent payment consistency.

    The property is located at 274 N Main St in Mooresville, within the Charlotte MSA, according to the listing remarks. Beyond that, no additional site-specific details such as unit configuration, frontage, parking, or tenancy are provided in the information available.

    For prospective tenants, buyers, or investors evaluating neighborhood retail needs, this asset is best positioned as a drug store-format retail offering given the property type designation. The strength of the provided record centers on the stated sales history and the 11+ years noted in the remarks, while the “no rent holiday” comment may help frame expectations around rental terms as discussed during diligence. Additional questions for review would typically include current lease status and the specific rights, expenses, and improvements included with the sale.

    Local Financial Insights For Specialty Retail

    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 $241.2k $21.00
    − Vacancy −$15.7k −$1.37
    EGI $225.5k $19.64
    − OpEx −$56.4k −$4.91
    NOI $169.2k $14.73
    11,487 SF · lease $21.00/SF/yr · vacancy 6.50% · expense 25.00%

    Alternative Uses

    Best Use
    Specialty Retail
    $2.42M
    $2.11M – $2.82M (±1% cap)
    NOI $169,160 @ 7.0% cap · market cap 5.22%
    Second Best
    Retail
    $2.01M
    $1.76M – $2.35M (±1% cap)
    NOI $141,021 @ 7.0% cap · market cap 4.36%
    Theoretical Best
    Office A
    $3.62M
    $3.16M – $4.22M (±1% cap)
    NOI $253,082 @ 7.0% cap · market cap 7.82%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    CVS Photo (Bike/Boat/Book/etc) Store Nila D. Patel, ... Pharmacy Vicky L. Butler, ... Pharmacy MoneyGram Bank CVS Pharmacy

    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.

    Similar Places Nearby

    • Nila D. Patel, RPh — 274 N Main St, Mooresville, NC 28115
    • Vicky L. Butler, RPh — 274 N Main St, Mooresville, NC 28115
    • Caroline A. Parmiter, RPH — 274 N Main St, Mooresville, NC 28115
    • Kimberly A. Oglietti, RPH — 274 N Main St, Mooresville, NC 28115, United States
    • CBD American Shaman — 222 S Main St #2, Mooresville, NC 28115

    Location Insight

    • Map
    • Local Demand
    City
    Mooresville
    County
    Iredell
    State
    North Carolina
    Longitude
    -80.8102955
    Latitude
    35.5845836

    Nearby Similar for Sale

    • $1,110,000

      Commercial Office Condo Units

      Two office condo units with strong road visibility, offered as a combined suite with flexibility to restore separate spaces.
      110 Charleston Drive, Mooresville, NC 28117
      View Details
    • $1,350,000
      3,880 SF

      Mixed-Use Building in Mooresville, NC

      Mixed-use building with retail and office space for sale.
      188 N Main Street, Mooresville, NC 28115
      View Details
    • $1,000,000

      Historic Mount Mourne Plantation

      Historic landmark on over 3 acres in Mooresville, NC.
      104 Leslie Loop, Mooresville, NC 28115
      View Details
    • $519,800

      New Construction Duplex Investment Opportunity

      New construction duplex in Mooresville designed for cash flow.
      West Park Avenue lot: 3, Mooresville, NC 28115
      View Details
    • $523,000

      Commercial Office Condo Investment Opportunity

      Tenant-occupied office condo with stable income and growth potential.
      107 Kilson Drive, Mooresville, NC 28117
      View Details
    • $6,950,000
      2,597 SF

      22-Acre Estate with Income Potential

      Estate with log home, event barn, and collision center.
      1620 London Road, Mooresville, NC 28115
      View Details
    • $554,320

      Modern Office Condo For Sale

      Modern office condo with private offices, conference room, and break area.
      107 Kilson Drive, Mooresville, NC 28117
      View Details
    • $1,110,000
      2,135 SF

      Office Condo Units with Road Visibility

      Office condo units with direct visibility and flexible configuration for owner-occupancy or separate leasing use.
      110 Charleston Dr, Mooresville, NC 28117
      View Details
    • $550,000

      New Townhouse Duplex, No HOA

      Newly constructed townhouse duplex with modern finishes and income potential.
      645 Brookwood Street, Mooresville, NC 28115
      View Details
    • $1,200,000
      5,067 SF

      Mooresville Auto Repair Shop

      Service station and auto repair shop in downtown Mooresville.
      1041 N Main Street, Mooresville, NC 28115
      View Details
    • $699,000
      12,079 SF

      Historic Downtown Mooresville Redevelopment Opportunity

      Investment property in historic downtown Mooresville with redevelopment potential.
      627 Gum Street, Mooresville, NC 28115
      View Details
    • $475,000

      Unique Mooresville Live/Work Opportunity

      Three-story mixed-use building with commercial and residential units.
      132 Market Place Avenue, Mooresville, NC 28117
      View Details

    FAQs

    What type of property is this?
    Drug store - Retail drug store asset offered for sale, noted for 11+ years of history and no rent holiday.
    Where is this drug store located?
    The property is located at 274 N MAIN ST Mooresville, NC.
    What is the asking price?
    The asking price for this property is $3,238,000.
    What are key features of this property?
    This property features: Retail drug store asset built in 1998; Noted for 11+ years of sales history; Described as having no rent holiday
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Tanner Sanford
    Real Estate License ID: TN 370826
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    274 N MAIN ST, MOORESVILLE, NC
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!