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Property profile & analytics
OFF-MARKET
Estimated value
$2,025,000
Warehouses
119 Backstretch Ln Mooresville, NC 28117-7023
Entity Owned
2-yr Hold
Free & Clear
Property ID
US53-0612642
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2003
Construction
STONE
Total area
15,296 SF
Lot
1.49 ac (64,904 SF)
Zoning code
HLI
APN
4647-89-3098.000
UPID
US53-0612642
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 Advantage Software Company, LLC (Bike/Boat/Book/etc) Store Corporate Office
-
ASAP Commercial Doors Hardware & Home Improvement Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.45M
CAP Approach
CAP
$1.71M
Comparable Approach
Comparable
$1.43M
Blend (final)
Blend
$2.03M
Owner & transaction history
Sirius Investments I LLC · 2 yrs held
Sirius Investments I LLC
since 2023
Last sale
$2.1M
7 recorded transactions
Zoning & alternative use
HLI · Mooresville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$3.0M
+40.9%
Retail stores
$2.3M
+8.8%
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
$2,360,000
ML approach
$2,445,000
CAP Approach
CAP Return
Estimation
6%
$1,855,000
6.5%
$1,710,000
7%
$1,590,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,120,000
Current use
MEDICAL BUILDING
$2,985,000
Change: +41% · Conversion: Difficult
RETAIL STORES
$2,305,000
Change: +9% · Conversion: Moderate
Blend value · Realmo final
$2.03M
Range $1.82M – $2.23M · ±10% · vs last sale $2.10M (Jul 13 2023)
Last sale anchor
$2.10M
Jul 13 2023
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
$132 / 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
$21,726
Tax year 2023
Assessed value
$2,208,840
Assessed 2023
Previous assessed
$1,558,830
+41.7% YoY
Effective rate
0.98%
On assessed value
Assessed land
$312,900
Assessed improvement
$1,895,940
Land market value
$312,900
Improvement market value
$1,895,940
Total market value
$2,208,840
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2003
Construction
STONE
Heating
YES
Cooling
YES
Stories
1
Bathrooms
4
Total area
15,296 SF
Lot
1.49 ac (64,904 SF)
Zoning code
HLI
APN
4647-89-3098.000
UPID
US53-0612642
Jurisdiction
IREDELL
Zoning & alternative use
HLI · Mooresville, NC
Zoning HLI · permitted uses
HLI · 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
WAREHOUSE, STORAGE Current
Est. value
$2.1M
MEDICAL BUILDING
Est. value
$3.0M
RETAIL STORES
Est. value
$2.3M
WAREHOUSE, STORAGE Current
MEDICAL BUILDING
RETAIL STORES
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
2003
Construction
STONE
Heating
YES
Cooling
Yes
Stories
1
Bathrooms
4
Lot
1.49 ac
Current owner
From public records · entity-resolved
Sirius Investments I LLC
Entity
Free & Clear · 2 yrs held
Mailing address
119 BACKSTRETCH LN STE A, MOORESVILLE, NC 28117-7024
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 13, 2023
$2,100,000
Sirius Investments I LLC
The Advantage Software Company LLC
Special Warranty Deed
—
Apr 26, 2021
—
The Advantage Software Company LLC
—
Deed
related
$45,000,000 · Barings Finance LLC
May 7, 2019
—
Advantage Software Co LLC
—
Deed
related
$30,954,000 · Freeport Fin'l Ptrs LLC
Jan 11, 2018
—
Tasc Properties LLC
Talbert Pointe Family Investme
Quit Claim Deed
related
—
Jan 11, 2018
$1,800,000
Tadvantage Software Company LLC
Tasc Properties LLC
Special Warranty Deed
—
Jul 11, 2005
—
Mendrin Trust
Mendrin,john JR & Kathleen M
Quit Claim Deed
related
—
Nov 14, 2003
$130,500
Park West Inv
Talbert,pointe F
Grant Deed
—
—
—
Advantage Software Co LLC
—
Loan Modification
related
$30,954,000 · Freeport Fin'l Ptrs LLC
—
—
Tasc Properties LLC
—
Deed Of Trust
related
$225,000 · Branch Banking & 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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