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    627 Gum St Mooresville, NC 28115

    Sponsored
    For Sale
    $1,520,000

    Historic Church, High Cap Rate, NNN Lease

    Property size:
    8,157 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    394
    This exceptional investment opportunity presents a 1-story, 8,157 square foot church building situated on a 0.92-acre lot in Mooresville, North Carolina. Built in 1913, this special-purpose property is currently under a triple-net (NNN) lease with a funeral home operator, providing a stable income stream. The 10-year lease offers a strong 7.20% capitalization rate, representing a compelling return on investment. Located at 627 Gum St, Mooresville, NC 28115, this property benefits from its prime location within Iredell County, a rapidly growing area. The asking price is $1,520,000, translating to $186.34 per square foot. This unique property presents a high barrier to entry due to its specialized nature and desirable location, making it an attractive asset for discerning investors seeking a stable, long-term investment with significant upside potential in a thriving market. The property's history and established tenant provide a solid foundation for future growth and profitability. This is a rare chance to acquire a well-positioned, income-generating property in a high-demand area.

    Property Features for 627 Gum St

    General Information

    Property type
    Churches & religious facilities
    Square Feet
    8,157 SF
    Lot Size
    40,075 SF

    Building Details

    Year Built
    1913
    Buildings
    1
    Stories
    1

    HighLights

    • $1,520,000 asking price.
    • 8,157 square foot special purpose property.
    • $186.34 price per square foot.
    • 7.20% cap rate.
    • 1913 year built, single‑story building on a 0.92‑acre lot in Mooresville, NC.
    • Currently leased to a funeral home under a long‑term NNN lease.
    Property Profile Location Intelligence

    Current Use by Public Records

    Wayne Russell Funeral ... Funeral Home

    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
    -80.8029559
    Latitude
    35.5875976

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    FAQs

    What type of property is this?
    Church & religious facility - Historic Church, High Cap Rate, NNN Lease
    Where is this church & religious facility located?
    The property is located at 627 Gum St Mooresville, NC.
    What is the asking price?
    The asking price for this property is $1,520,000.
    What are key features of this property?
    This property features: $1,520,000 asking price.; 8,157 square foot special purpose property.; $186.34 price per square foot.
    (336) 724-1715
    Request Owner's contact information
    627 Gum St Mooresville, NC 28115
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    Mooresville, NC 28115
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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
    627 Gum St Mooresville, NC 28115
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