Drug Store Retail
274 N MAIN ST Mooresville, NC 28115
For Sale
Contact for pricing
Retail drug store asset offered for sale, noted for 11+ years of history and no rent holiday.
Property Size11,487 SF
Price / SF$281.88
Days on Market64
Property Features for 274 N MAIN ST
General Information
Standard status
Active
Size
11,487 SF
Property subtype
Retail
Building Details
Year Built
1998
Listing Agency:
Matthews
Listed By:
Tanner Sanford · License #TN 370826
Source:
Crexi
Added: May 27
Changed: Jul 10
Last Checked: Jul 28 at 4:11AM
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
Investment Insights
Based on property information with market context.
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.
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.
Key Highlights
- Retail drug store asset built in 1998
- Noted for 11+ years of sales history
- Described as having no rent holiday
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
NOI $169,160 @ 7.0% cap · market cap 5.22%
Second Best
Retail
$2.01M
$1.76M – $2.35M
NOI $141,021 @ 7.0% cap · market cap 4.36%
Theoretical Best
Office A
$3.62M
$3.16M – $4.22M
NOI $253,082 @ 7.0% cap · market cap 7.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market 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
Frequently Asked Questions
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
