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Property profile & analytics
OFF-MARKET
Estimated value
$1,795,000
Medical Office Space
109 Morlake Dr Mooresville, NC 28117-9069
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US53-3890388
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2017
Construction
WOOD
Total area
16,215 SF
Lot
2.15 ac (93,654 SF)
Zoning code
CC
APN
4647-58-6078.000
UPID
US53-3890388
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
Current use
Occupant on record · Public records
-
Pet Paradise Mooresville Kennel & Boarding Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.29M
Blend (final)
Blend
$1.80M
Owner & transaction history
Store Master Funding Xi LLC · 8 yrs held
Store Master Funding Xi LLC
since 2018
3 recorded transactions
Zoning & alternative use
CC · Mooresville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The CC (Community Commercial) zoning district accommodates business uses that provide goods and services to residents of the region and Town, including shopping centers and large retail establishments located along limited access streets and adjacent to highway interchanges. The district provides lands for auto oriented and auto dependent development in addi…
Zone name
Community Commercial
General category
COMMERCIAL
Zone area
1,200.50 ac
Source
Realmo
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.80M
Range $1.62M – $1.97M · ±10%
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
$111 / 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
$31,254
Tax year 2023
Assessed value
$2,744,920
Assessed 2023
Previous assessed
$2,070,220
+32.6% YoY
Effective rate
1.14%
On assessed value
Assessed land
$627,800
Assessed improvement
$2,117,120
Land market value
$627,800
Improvement market value
$2,117,120
Total market value
$2,744,920
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2017
Construction
WOOD
Heating
FORCED AIR
Cooling
AC.PACKAGE
Stories
1
Total area
16,215 SF
Lot
2.15 ac (93,654 SF)
Zoning code
CC
APN
4647-58-6078.000
UPID
US53-3890388
Jurisdiction
IREDELL
Zoning & alternative use
CC · Mooresville, NCZoning CC · permitted uses
CC · Mooresville, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The CC (Community Commercial) zoning district accommodates business uses that provide goods and services to residents of the region and Town, including shopping centers and large retail establishments located along limited access streets and adjacent to highway interchanges. The district provides lands for auto oriented and auto dependent development in addition to serviceoriented uses that provide support to the surrounding region, while encouraging the transition over time from existing development patterns to a non auto centric development pattern that includes a mix of residential and nonresidential uses. The district provides for redevelopment opportunities and supports multi modal transportation options to better serve the entire community.
Zone name
Community Commercial
General category
COMMERCIAL
Zone area
1,200.50 ac
Source
Realmo
Building & site characteristics
From public records
Year built
2017
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
2.15 ac
Current owner
From public records · entity-resolved
Store Master Funding Xi LLC
Entity
Mailing address
8377 E HARTFORD DR STE #100, SCOTTSDALE, AZ 85255-5686
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 9, 2018
$3,900,000
Store Master Funding Xi LLC
Pet Paradise-mooresville LLC
Grant Deed
related
$3,950,000 · Citibank
Dec 15, 2016
$650,000
Pet Paradise-mooresville LLC
Pappas,george N & Margaret A
Warranty Deed
—
Dec 14, 2012
$750,000
George Pappas
Bluefield Partners I LLC
Grant Deed
$350,000 · First Citizens Bank & Trust Co
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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