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Property profile & analytics
OFF-MARKET
Estimated value
$53,100,000
Garden apartment buildings
104 Waypointe Cir, Mooresville, NC 28117-5484
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US53-3029125
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
2020
Construction
WOOD
Total area
30,484 SF
Lot
22.42 ac (976,615 SF)
Zoning code
TN
APN
4638-61-5634.000
UPID
US53-3029125
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$54.45M
Blend (final)
Blend
$53.10M
Owner & transaction history
Bell Fund Vii Mooresville LP · 4 yrs held
Bell Fund Vii Mooresville LP
since 2022
Last sale
$54.2M
4 recorded transactions
Zoning & alternative use
TN · Mooresville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$60.6M
+44.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Mooresville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mooresville submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$49,550,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$41,850,000
Current use
COMMERCIAL (GENERAL)
$60,595,000
Change: +45% · Conversion: Moderate
Blend value · Realmo final
$53.10M
Range $47.79M – $58.41M · ±10% · vs last sale $54.20M (May 19 2022)
Last sale anchor
$54.20M
May 19 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$1,742 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$429,610
Tax year 2023
Assessed value
$42,506,070
Assessed 2023
Previous assessed
$25,268,230
+68.2% YoY
Effective rate
1.01%
On assessed value
Assessed land
$3,497,520
Assessed improvement
$39,008,550
Land market value
$3,497,520
Improvement market value
$39,008,550
Total market value
$42,506,070
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
2020
Construction
WOOD
Heating
HEAT PUMP
Cooling
AC.PACKAGE
Buildings
4
Units
24
Total area
30,484 SF
Lot
22.42 ac (976,615 SF)
Zoning code
TN
APN
4638-61-5634.000
UPID
US53-3029125
Jurisdiction
IREDELL
Zoning & alternative use
TN · Mooresville, NC
Zoning TN · permitted uses
TN · Mooresville, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Mooresville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$41.9M
COMMERCIAL (GENERAL)
Est. value
$60.6M
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2020
Construction
WOOD
Heating
HEAT PUMP
Cooling
Yes
Buildings
4
Units
24
Lot
22.42 ac
Current owner
From public records · entity-resolved
Bell Fund Vii Mooresville LP
Entity
Mailing address
300 N GREENE ST STE #1000, GREENSBORO, NC 27401-2173
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 19, 2022
$54,200,000
Bell Fund Vii Mooresville LP
Perth Road Apartments LLC
Warranty Deed
$34,000,000 · Pinncacle Bank
Nov 20, 2019
—
Perth Road Apartments LLC
Gst Eagan Exempt F/tr
Warranty Deed
—
Nov 20, 2019
$1,450,000
Perth Road Apartments LLC
Robert J III
Warranty Deed
—
Jul 13, 2018
—
Perth Road Dev LLC
Brotherton,peggy P
Grant Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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