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Property profile & analytics
OFF-MARKET
Estimated value
$1,460,000
Turn key restaurants
124 Norman Sta Blvd, Mooresville, NC 28117-6396
Entity Owned
4-yr Hold
Free & Clear
Property ID
US53-1803003
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1989
Construction
STEEL FRAME
Total area
9,582 SF
Lot
1.3 ac (56,628 SF)
Zoning code
CC
APN
4647-85-0507.000
UPID
US53-1803003
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
-
Hibachi Grill and Cafe Restaurant
-
Ichiban Hibachi Buffet Restaurant Buffet
-
Hibachi Grill & Buffet Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.42M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.03M
Blend (final)
Blend
$1.46M
Owner & transaction history
Norman Station Property LLC · 4 yrs held
Norman Station Property LLC
since 2021
Last sale
$1.5M
6 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
$1,510,000
ML approach
$1,415,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$2,320,000
Current use
MEDICAL BUILDING
$1,870,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$1.46M
Range $1.31M – $1.61M · ±10% · vs last sale $1.46M (Jul 15 2021)
Last sale anchor
$1.46M
Jul 15 2021
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
$152 / 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
$17,355
Tax year 2023
Assessed value
$1,524,200
Assessed 2023
Previous assessed
$1,414,670
+7.7% YoY
Effective rate
1.14%
On assessed value
Assessed land
$863,200
Assessed improvement
$661,000
Land market value
$863,200
Improvement market value
$661,000
Total market value
$1,524,200
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1989
Construction
STEEL FRAME
Heating
HEAT PUMP
Cooling
CENTRAL
Stories
1
Bathrooms
4
Total area
9,582 SF
Lot
1.3 ac (56,628 SF)
Zoning code
CC
APN
4647-85-0507.000
UPID
US53-1803003
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
RESTAURANT Current
Est. value
$2.3M
MEDICAL BUILDING
Est. value
$1.9M
RESTAURANT Current
MEDICAL BUILDING
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
1989
Construction
STEEL FRAME
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Bathrooms
4
Lot
1.3 ac
Current owner
From public records · entity-resolved
Norman Station Property LLC
Entity
Free & Clear · 4 yrs held
Mailing address
51 DRAKES MDW LN, ARDEN, NC 28704-9350
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 15, 2021
$1,458,000
Norman Station Property LLC
Omega Seafood LLC
Warranty Deed
—
Jun 24, 2016
—
Omega Seafood LLC
—
Deed
related
$260,000 · Bank Of Nc
Jun 21, 2016
—
Omega Seafood LLC
—
Deed
related
$1,050,000 · Bank Of Nc
—
—
Omega Seafood LLC
—
Deed Of Trust
related
$1,050,000 · Bank Of Nc
—
—
Omega Seafood LLC
—
Deed Of Trust
related
$260,000 · Bank Of Nc
—
—
Omega Seafood LLC
—
Deed Of Trust
related
$1,390,000 · 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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