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    118 Argus Ln Mooresville, NC 28117
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    Property profile & analytics

    118 Argus Ln Mooresville, NC 28117

    View on Map
    • Strip malls
    • 59,079 SF
    • 9.31 lot acres
    For Lease
    $1,475,000
    View Listing →
    Retail Center in Mooresville, NC For Lease
    $1,475,000

    Retail Center in Mooresville, NC

    Anchored retail center in a growing Mooresville location.

    118 Argus Lane, Mooresville, NC 28117
    View Listing
    Property ID
    US53-0919918
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $1,475,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Harris Teeter / Grocery & Convenience Store / Food Market
    • Harris Teeter Fuel Center / Gas Station
    • Karen Hendricks, RPH / Pharmacy
    • Redbox / Cinema / (Bike/Boat/Book/etc) Store
    • Jesi Personett, RPH / Pharmacy

    Property Details for 118 Argus Ln

    Year built
    2007
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    9.31 lot acres
    Property size
    59,079 SF
    Zone code
    CM
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    4637-69-7611.000
    APU
    4637697611000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,000,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,945,000
      Market price range: $1.07M - $2.67M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,755,000
      Current use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Mooresville
    County
    Iredell
    State
    North Carolina
    Longitude
    -80.8951
    Latitude
    35.6027
    CBSA code
    16740
    CBSA name
    CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $154,486
    $3,856,410
    $11,849,750
    $15,706,160
    -
    $3,856,410
    $11,849,750
    $15,706,160

    Comparable in this City

    • Value Estimation
      $1,630,000
      54,750 SF

      598 Riv Hwy Ste A

      SHOPPING CENTER, STRIP CENTER • 54,750 SF
      598 Riv Hwy Ste A, Mooresville, NC 28117-7806
      View Details
    • Value Estimation by Request
      11,925 SF

      294 Plz Dr

      SHOPPING CENTER, STRIP CENTER • 11,925 SF
      294 Plz Dr, Mooresville, NC 28117-6856
      View Details
    • Value Estimation by Request
      16,740 SF

      1178 Riv Hwy

      SHOPPING CENTER, STRIP CENTER • 16,740 SF
      1178 Riv Hwy, Mooresville, NC 28117-9221
      View Details
    • Value Estimation by Request
      24,060 SF

      807 Williamson Rd

      SHOPPING CENTER, STRIP CENTER • 24,060 SF
      807 Williamson Rd, Mooresville, NC 28117-8559
      View Details
    • Value Estimation
      $3,060,000
      8,604 SF

      122 Trade Ct

      SHOPPING CENTER, STRIP CENTER • 8,604 SF
      122 Trade Ct, Mooresville, NC 28117-5549
      View Details
    • Value Estimation
      $520,000
      10,544 SF

      126 Mooresville Cmns Way

      SHOPPING CENTER, STRIP CENTER • 10,544 SF
      126 Mooresville Cmns Way, Mooresville, NC 28117-8940
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,700 SF

      Prime Greenwood Road Office Suites

      Modern office space, flexible layouts, all utilities included.
      637 Williamson Rd, Mooresville, NC 28117
      View Details
    • $925,000
      1,669 SF

      Retail Space Available For Sale

      Retail property with 1,669 SF of space for sale.
      872 River Hwy, Mooresville, NC 28117
      View Details
    • Contact for pricing
      12,460 SF

      Retail/Office Space on Charlotte Hwy

      Former dry-cleaning space ideal for retail or office use.
      235 Medical Park Rd, Mooresville, NC 28117
      View Details
    • Contact for pricing

      Land in Mooresville, NC

      Land available for sale in Mooresville, North Carolina.
      211 Williamson Rd, Mooresville, NC 28117
      View Details
    • Contact for pricing
      12,460 SF

      Retail and Medical Building Investment

      Fully leased retail and medical building near commercial district.
      235 Medical Park Rd, Mooresville, NC 28117
      View Details
    • Contact for pricing
      51,000 SF

      Mooresville Industrial Facility For Sale

      51,000 SF industrial facility in the Mooresville submarket.
      289 Rolling Hill Rd, Mooresville, NC 28117
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space Near I-77

      Retail space at a heavily travelled intersection near I-77.
      631 Brawley School Rd, Mooresville, NC 28117
      View Details
    • Contact for pricing

      Retail Center in Mooresville, NC

      Anchored retail center in a growing Mooresville location.
      118 Argus Ln, Mooresville, NC 28117
      View Details
    • Contact for pricing
      2,421 SF

      Retail Suites Available for Lease

      Two 1,200 SF retail suites with building signage available.
      2785 Charlotte Hwy, Mooresville, NC 28117
      View Details
    • Contact for pricing

      Regional Power Center For Rent

      Regional power center with excellent Interstate 77 access.
      355 W Plaza Dr, Mooresville, NC 28117
      View Details
    • Contact for pricing

      Retail Space in Growing Area

      Retail space in a high-growth Mooresville retail corridor.
      369 West Plaza Dr, Mooresville, NC 28117
      View Details
    • Contact for pricing

      Retail Space Near Costco

      1,500 SF retail space in Mooresville, NC. Delivery Summer 2025.
      I-77 & Brawley School Rd, Mooresville, NC 28117
      View Details

    Property Visit Statistics

    • Visits by month
      60.2k
    • Visitors by month
      27.4k
    • Avg Time on site
      23 min
    View Listing
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    Mooresville, NC 28117
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    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
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    118 Argus Ln, Mooresville, NC, 28117
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