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Property profile & analytics
OFF-MARKET
Estimated value
$640,000
Office Spaces
116 Morlake Dr, Mooresville, NC 28117-9232
Individually Owned
11-yr Hold
~
Est. High Equity
Property ID
US53-1643197
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
2005
Construction
WOOD
Total area
3,009 SF
Lot
3.66 ac (159,430 SF)
Zoning code
CC
APN
4647-68-0313.221
UPID
US53-1643197
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
-
The Pain & Rehab Institute Medical Clinic Physician
-
L. Ragan Dudley Law Firm Child Welfare Organization
-
The Dudley Law Firm - Mooresville Law Firm
-
MIDTC, LLC Tech Support Center IT Consulting Firm
-
DFS Advisors, LLC Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$865k
Comparable Approach
Comparable
$874k
Blend (final)
Blend
$640k
Owner & transaction history
Scott T Champion · 11 yrs held
Scott T Champion
since 2015
2 recorded transactions
Zoning & alternative use
CC · Mooresville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
$940,000
6.5%
$865,000
7%
$805,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$900,000
Current use
Blend value · Realmo final
$640k
Range $576k – $704k · ±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
$213 / 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
$5,985
Tax year 2023
Assessed value
$525,620
Assessed 2023
Previous assessed
$413,030
+27.3% YoY
Effective rate
1.14%
On assessed value
Assessed land
$87,840
Assessed improvement
$437,780
Land market value
$87,840
Improvement market value
$437,780
Total market value
$525,620
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
Office Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
2005
Construction
WOOD
Heating
HEAT PUMP
Cooling
AC.PACKAGE
Stories
2
Bathrooms
2
Total area
3,009 SF
Lot
3.66 ac (159,430 SF)
Zoning code
CC
APN
4647-68-0313.221
UPID
US53-1643197
Jurisdiction
IREDELL
Zoning & alternative use
CC · Mooresville, NC
Zoning CC · permitted uses
CC · 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
OFFICE BUILDING Current
Est. value
$900,000
OFFICE BUILDING Current
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
2005
Construction
WOOD
Heating
HEAT PUMP
Cooling
Yes
Stories
2
Bathrooms
2
Lot
3.66 ac
Current owner
From public records · entity-resolved
Scott T Champion
Individual
Mailing address
154 PLANTATION DR, MOORESVILLE, NC 28117-5820
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 30, 2015
$230,000
Scott T Champion
Fifth Third Bk
Grant Deed
$180,000 · Midwest Bk/western Il
Jun 17, 2011
$450,000
Fifth Third Bk
Simpson,david T JR
Trustees 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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