Medical Office Building with
New
For Sale
$450,000
322 E Statesville Avenue, Mooresville, NC 28115
Former doctor's office with staff kitchen and on-site parking.
Property Size1,972 SF
Price / SF$187.03
Days on Market3
Property Features for 322 E Statesville Avenue
General Information
Standard status
Active
Size
1,972 SF
Property subtype
Retail
Amenities
kitchen
Size: 0.75, Size Units: Acres
Days on Market: 0, Listing Price: 450000, Status: Active
Year Built: 1972, Construction Type: Site Built
City: Mooresville, State: NC, Zip: 28115, County: Iredell, Directions: I-77 North, exit 31 for Langtree Road. Left onto NC-115 North. Turn right onto College St. Left onto Church St. Right onto East Iredell Ave. Right onto East Statesville Ave.
Auction Y/N: 0
Building Details
Building Size
1,972 SF
Year Built
1972
Buildings
1
Listing Agency:
RE/MAX Executive
(704) 662-0095
Listed By:
Jamie Purvis
(704) 707-6268
Source:
Blackstreaminternational
Added: Sep 1
Changed: Sep 3
Last Checked: Sep 3 at 2:03AM
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 RE/MAX Executive
Investment Insights
Based on property information with market context.
Built in 1972, this 2,406-square-foot commercial building is configured for medical office use and was most recently operated as a doctor's office. The property includes an on-site kitchen for staff and offers a layout that can accommodate medical, dental, general office, or retail functions.
Located at 322 E Statesville Avenue in Mooresville, the building is positioned minutes from downtown. On-site parking is available for employees and clients or patients, supporting day-to-day office operations and visitor access.
Located at 322 E Statesville Avenue in Mooresville, the building is positioned minutes from downtown. On-site parking is available for employees and clients or patients, supporting day-to-day office operations and visitor access.
Key Highlights
- 2,406‑square‑foot commercial building
- Most recently operated as a doctor's office
- On‑site kitchen for staff use
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,510
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.45%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$670,200
$670.2K
Cap Rate 7%
$478,714
$478.7K
Cap Rate 9%
$372,333
$372.3K
Market Conditions
NOI Build-Up for 2,406 SF
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.
Gross rent
$60.1K $24.96/SF
− Vacancy
−$4.2K −$1.75/SF
EGI
$55.8K $23.21/SF
− OpEx
−$22.3K −$9.29/SF
NOI
$33.5K $13.93/SF
Area
Iredell County, NC
Vacancy
7.00%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$670,200
Cap Rate 7%
$478,714
Cap Rate 9%
$372,333
Alternative Uses
Best Use
Office B
$602.8K
$527.5K – $703.3K
NOI $42,196 @ 7.0% cap · market cap 9.38%
Second Best
Healthcare Medical
$478.7K
$418.9K – $558.5K
NOI $33,510 @ 7.0% cap · market cap 7.45%
Theoretical Best
Office A
$757.3K
$662.6K – $883.5K
NOI $53,009 @ 7.0% cap · market cap 11.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
880
Businesses Nearby
Balanced
Demand for This Use
Explore this area
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Village Animal Hospital — 628 Carpenter Ave, Mooresville, NC 28115
- Healthsmart Pharmacy — 594 N Main St, Mooresville, NC 28115
- Lake Norman Equine Clinic — 1108 Briarhill Rd, Mooresville, NC 28115
Frequently Asked Questions
What type of property is this?
Medical Office Space - Former doctor's office with staff kitchen and on-site parking.
Where is this medical office space located?
The property is located at 322 E Statesville Avenue Mooresville, NC.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 2,406‑square‑foot commercial building; Most recently operated as a doctor's office; On‑site kitchen for staff use
