Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    235 Medical Park Rd Mooresville, NC 28117

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Fully leased retail and medical building near commercial district.

    Type:Retail, Office
    Property size:
    12,460 SF
    Added:
    Nov 2, 2024
    Days on Market:
    531
    Last Refresh:
    Mar 17 at 1:14 pm

    Property Features for 235 Medical Park Rd

    General Information

    Standard status
    Active
    Size
    12,460 SF
    Property subtype
    Retail, Office

    Building Details

    Year Built
    2006

    We can help!

    Listing Contact
    Charles Neil

    Listing agent Charles Neil License #NC 190580

    Listing office Divaris Real Estate Inc Charlotte

    Listing date Nov 2, 2024

    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 Divaris Real Estate Inc Charlotte

    Overview

    Retail and Medical Building Investment

    This investment opportunity features a fully leased retail and medical building. The property is strategically positioned near a commercial district spanning 1.5 million square feet. It is located off I-77 Express Interchange and Charlotte Hwy, a highly trafficked corridor with 83,000 vehicles per day on I-77 Express and 24,000 vehicles per day on Charlotte Hwy. The property is situated at the entrance of Mount Mourne Medical Park and is 0.4 miles from Lake Norman Regional Hospital and 0.5 miles from Lowe's Home Improvement Headquarters. The tenant mix includes local and national businesses. The surrounding area is projected to experience a population growth of 10-12%, promising sustained demand for retail and medical services. The property size is 12460 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Sumo Shack Restaurant James G. Zolzer, ... Physician Todd J. Adams, ... Physician Lakeshore Women's Specialists, ... Medical Clinic Orange Cleaners (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Mooresville
    County
    Iredell
    State
    North Carolina
    Longitude
    -80.8542024
    Latitude
    35.5540205

    Nearby Similar for Sale

    • $1,350,000

      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
    • $465,000

      Lake Norman Duplex Investment Opportunity

      Turnkey duplex near Lake Norman with Airbnb history.
      115 / 117 Bowfin Circle, Mooresville, NC 28117
      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
    • $556,320

      Modern Office Condo For Sale

      Modern office condo featuring private offices, conference room, and break area.
      107 Kilson Drive, Mooresville, NC 28117
      View Details
    • $1,600,000

      Private Wooded Acres with Barn

      16 acres with barn and stream near Mooresville schools.
      173 Rocky River Road, Mooresville, NC 28115
      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
    • $1,900,000

      Commercial Building Near Downtown Mooresville

      13,944 SF commercial building on 1.6 acres near I-77.
      770-772 N Broad 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
    • $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
    • $514,900

      New Construction Duplex Investment Opportunity

      Modern duplex in Mooresville, NC, ideal for investors.
      West Park Avenue lot: 1, Mooresville, NC 28115
      View Details
    • $514,900

      New Construction Duplex Investment Opportunity

      Modern duplex in Mooresville, designed for cash flow and growth.
      West Park Avenue lot: 2, Mooresville, NC 28115
      View Details
    • $1,350,000
      3,880 SF

      Mixed-Use Building with Established Tenant

      Mixed-use building featuring a long-term tenant and vacant office space.
      188 N Main Street, Mooresville, NC 28115
      View Details

    FAQs

    What type of property is this?
    Retail property - Fully leased retail and medical building near commercial district.
    Where is this retail property located?
    The property is located at 235 Medical Park Rd Mooresville, NC.
    What is the asking price?
    The asking price for this property is $3,751,668.
    What are key features of this property?
    This property features: Fully leased retail and medical building providing stable, income‑generating asset.; Strategic location near a 1.5 million square foot commercial district.; Projected 10‑12% population growth in the surrounding area, ensuring sustained demand.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Charles Neil
    Real Estate License ID: NC 190580
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!