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    1278 Mecklenburg Hwy Mooresville, NC 28115

    Sponsored
    For Sale
    $1,530,000

    51-Unit Approved Site, 3.48 Acres

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 3.48-acre parcel in Mooresville, North Carolina, presents a unique opportunity for immediate development. Located at 1278 Mecklenburg Hwy, Iredell County, zip code 28115 (35.5548151, -80.8417793), this multifamily land is already zoned and entitled for a 51-unit project. The site plan is fully approved, eliminating the time-consuming process of rezoning and site plan approvals, allowing for a swift transition to construction drawings and building permits. This significantly reduces development timelines and associated costs. The property's location within Mooresville, one of North Carolina's fastest-growing cities, benefits from robust rental demand and strong rental rates. Adding to the immediate return potential, two existing rental homes on the property generate current cash flow. This turnkey investment offers a rare chance to capitalize on the thriving Mooresville multifamily market with minimal upfront delays. The property is designated as Commercial, Residential, and Multifamily land. The asking price is $1,530,000.

    Property Features for 1278 Mecklenburg Hwy

    General Information

    Property type
    Multifamily properties
    Lot Size
    151,589 SF

    HighLights

    • $1,530,000 asking price.
    • 3.48‑acre commercial and residential land parcel.
    • Multifamily zoning approved for 51 units.
    • Ready for immediate construction; site plan already approved.
    • Located in Mooresville, NC (Iredell County), at 1278 Mecklenburg Hwy, 28115.
    • Includes two existing rental homes generating immediate cash flow.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mooresville
    County
    Iredell
    State
    North Carolina
    Longitude
    -80.8417793
    Latitude
    35.5548151

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    FAQs

    What type of property is this?
    Multifamily property - 51-Unit Approved Site, 3.48 Acres
    Where is this multifamily property located?
    The property is located at 1278 Mecklenburg Hwy Mooresville, NC.
    What is the asking price?
    The asking price for this property is $1,530,000.
    What are key features of this property?
    This property features: $1,530,000 asking price.; 3.48-acre commercial and residential land parcel.; Multifamily zoning approved for 51 units.
    (336) 724-1715
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    Realmo Value Estimation

    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.

    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.

    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
    1278 Mecklenburg Hwy Mooresville, NC 28115
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