Class A Office
116 Morlake Dr Mooresville, NC 28117
116 Morlake Dr, Mooresville, NC, 28117
Contact for pricing
For Sale
Contact for pricing
Ready-to-occupy office suite in Mooresville, NC.
Property Size1,600 SF
Price / SF$261.88
Days on Market715
Property Features for 116 Morlake Dr
General Information
- Standard status
- Active
- Size
- 1,600 SF
- Property subtype
- Office
Listing agency
KW Commercial Lake Norman - Mooresville
(704) 577-5979
Listed by
Chuck Young · License #NC 272367
Source
Crexi
Added: Aug 6, 2024 Updated: Jul 6 at 7:47AM Checked: Jul 21 at 4:59AM
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 KW Commercial Lake Norman - Mooresville
Investment Insights
Based on property information with market context.
The property at 116 Morlake Drive, Mooresville, NC 28117 features a Class A office suite, specifically suite 101, offering approximately 1600 square feet of space. This first-floor suite is fully fitted and ready for immediate occupancy. The suite can be subdivided into two units of approximately 900 and 700 square feet. The listed square footage includes common areas, bathrooms, and the lobby. Men's and ladies' bathrooms are fully maintained. The building is secured with keypad entry and includes an elevator providing access to second-floor suites. Both units are currently leased for 3-year terms, starting March 1, 2025, and May 1, 2025.
Key Highlights
- Fully fitted, Class A office suite ready for immediate occupancy
- Currently leased for 3 years (starting March 1, and May 1, 2025)
- Can be subdivided into 900 SF & 700 SF units
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 | $41.7k | $26.04 |
| − Vacancy | −$4.2k | −$2.66 |
| EGI | $37.4k | $23.38 |
| − OpEx | −$9.4k | −$5.85 |
| NOI | $28.1k | $17.54 |
1,600 SF · lease $26.04/SF/yr · vacancy 10.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$400.9K
$350.8K – $467.7K
NOI $28,061 @ 7.0% cap · market cap 6.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$503.6K
$440.6K – $587.5K
NOI $35,251 @ 7.0% cap · market cap 8.41%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
The Pain & Rehab Institute
Medical Clinic
L. Ragan Dudley
Law Firm
The Dudley Law Firm ...
Law Firm
MIDTC, LLC
Tech Support Center
DFS Advisors, LLC
Financial Advisor
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FAQs
What type of property is this?
Office units - Ready-to-occupy office suite in Mooresville, NC.
Where is this office units located?
The property is located at 116 Morlake Dr Mooresville, NC.
What is the asking price?
The asking price for this property is $419,000.
What are key features of this property?
This property features: Fully fitted, Class A office suite ready for immediate occupancy; Currently leased for 3 years (starting March 1, and May 1, 2025); Can be subdivided into 900 SF & 700 SF units
