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Property profile & analytics
OFF-MARKET
Estimated value
$55,000,000
Garden apartment buildings
125 Waterlynn Rd, Mooresville, NC 28117
Entity Owned
1-yr Hold
Free & Clear
Property ID
US53-2791389
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
2013
Construction
WOOD
Total area
27,545 SF
Lot
20.02 ac (872,115 SF)
Zoning code
TN
APN
4646-95-6564.000
UPID
US53-2791389
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$55.00M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$55.11M
Blend (final)
Blend
$55.00M
Owner & transaction history
Ip4 Lake Norman LLC · 1 yrs held
Ip4 Lake Norman LLC
since 2024
Last sale
$55.0M
7 recorded transactions
Zoning & alternative use
TN · Mooresville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$54.8M
+44.8%
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
$55,000,000
ML approach
$55,000,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$37,815,000
Current use
COMMERCIAL (GENERAL)
$54,750,000
Change: +45% · Conversion: Moderate
Blend value · Realmo final
$55.00M
Range $49.50M – $60.50M · ±10% · vs last sale $55.00M (Aug 15 2024)
Last sale anchor
$55.00M
Aug 15 2024
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
$1,997 / 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
$505,587
Tax year 2023
Assessed value
$57,018,100
Assessed 2023
Previous assessed
$31,665,410
+80.1% YoY
Effective rate
0.89%
On assessed value
Assessed land
$2,342,460
Assessed improvement
$54,675,640
Land market value
$2,342,460
Improvement market value
$54,675,640
Total market value
$57,018,100
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
2013
Construction
WOOD
Heating
HEAT PUMP
Cooling
AC.PACKAGE
Buildings
5
Stories
2
Units
24
Total area
27,545 SF
Lot
20.02 ac (872,115 SF)
Zoning code
TN
APN
4646-95-6564.000
UPID
US53-2791389
Jurisdiction
IREDELL
Zoning & alternative use
TN · Mooresville, NC
Zoning TN · permitted uses
TN · 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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$37.8M
COMMERCIAL (GENERAL)
Est. value
$54.8M
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
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
2013
Construction
WOOD
Heating
HEAT PUMP
Cooling
Yes
Stories
2
Buildings
5
Units
24
Lot
20.02 ac
Current owner
From public records · entity-resolved
Ip4 Lake Norman LLC
Entity
Free & Clear · 1 yrs held
Mailing address
164 MARKET ST NE #202, CHARLESTON, SC 29401-6948
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 15, 2024
$55,000,000
Ip4 Lake Norman LLC
118pc Apts LLC
Special Warranty Deed
—
May 15, 2020
—
118pc Apts LLC
Hawthorne-midway Venue LLC
Quit Claim Deed
related
—
May 15, 2020
$49,955,000
118pc Apts LLC
Hawthorne-midway Venue LLC
Grant Deed
$34,968,000 · Holliday Fenoglio Fowler
Apr 1, 2015
$27,650,000
Hawthorne-midway Venue LLC|venue Apartment Investo
Waterlynn Partners LLC
Grant Deed
$26,000,000 · Cbre Multifamily Cap
Apr 29, 2014
—
Waterlynn Partners LLC
—
Grant Deed
related
$26,300,000 · East Asset Management LLC
Dec 19, 2011
$1,850,000
Waterlynn Partners LLC
Wells Fargo Bk NA
Grant Deed
—
Dec 19, 2011
—
Waterlynn Partners LLC
Wells Fargo Bk NA
Grant Deed
related
—
—
—
Waterlynn Partners LLC
—
Deed Of Trust
related
$18,000,000 · Wells Fargo Bk/tx
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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