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    156 W Statesville Ave Mooresville, NC 28115
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    156 W Statesville Ave Mooresville, NC 28115

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    • Specialty properties
    Off-Market
    Property ID
    US53-0266224
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Specialty properties

    Property Details for 156 W Statesville Ave

    Year built
    1898
    Property type
    Specialty properties
    Property subtype
    Commercial real estate

    Description

    Currently functioning as a 3-bedroom, 2-bath home located in the heart of downtown Mooresville. Ample parking available. See cross listing MLS 419021

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Mooresville
    County
    Iredell
    State
    North Carolina
    Longitude
    -80.8044184
    Latitude
    35.5879168

    Comparable in this City

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      Historic Downtown Mooresville Redevelopment Opportunity

      Investment property in historic downtown Mooresville with redevelopment potential.
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      22-Acre Estate with Income Potential

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      Mooresville Downtown Commercial Lot

      Prime Mooresville location, development opportunity.
      210 Broad St, Mooresville, NC 28115
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      22-Acre Live/Work Compound

      22-acre live/work compound with residences, barns, event space, garages.
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    • $1,394,000

      Industrial Land in Mooresville Park

      16 acres of industrial land in Mooresville, North Carolina.
      0000 Iredell Industrial Park Rd, Mooresville, NC 28115
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    Similar Nearby for Sale

    • Contact for pricing
      8,157 SF

      Mooresville Special-Use Property For Sale

      Special-use property in Mooresville, North Carolina, with ample parking.
      627 Gum St, Mooresville, NC 28115
      View Details
    • $699,000
      12,079 SF

      Historic Downtown Mooresville Redevelopment Opportunity

      Investment property in historic downtown Mooresville with redevelopment potential.
      627 Gum St, Mooresville, NC 28115
      View Details
    • New
      $6,950,000
      2,597 SF

      22-Acre Estate with Income Potential

      Estate with log home, event barn, and collision center.
      1620 London Rd, Mooresville, NC 28115
      View Details
    • $974,900
      1,530 SF

      Mooresville Downtown Commercial Lot

      Prime Mooresville location, development opportunity.
      210 Broad St, Mooresville, NC 28115
      View Details
    • Contact for pricing

      22-Acre Live/Work Compound

      22-acre live/work compound with residences, barns, event space, garages.
      1620 London Rd, Mooresville, NC 28115
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    • $1,394,000

      Industrial Land in Mooresville Park

      16 acres of industrial land in Mooresville, North Carolina.
      0000 Iredell Industrial Park Rd, Mooresville, NC 28115
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    Similar Nearby for Lease

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      Mooresville Office/Flex Space For Lease

      23,697 SF office/flex space in Deerfield Business Park.
      116 Exmore Rd, Mooresville, NC 28115
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    • $1,650 /Mo
      19,602 SF

      Mooresville Office Space Available

      Office space for rent with kitchen and storage.
      146 W Statesville Ave, Mooresville, NC 28115
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    • $250 SF/Yr

      Downtown Mooresville Office Space

      Second floor office space in downtown Mooresville.
      153 Main St, Mooresville, NC 28115
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      Corner Parcel in High-Growth Area

      2.8-acre corner parcel in a high-growth residential market.
      111 Rocky River Rd, Mooresville, NC 28115
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      Mooresville Flex/Retail Space Available

      Flex/retail space with ample parking and frontage on N. Main.
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      113,000 SF

      Mooresville Industrial Property for Lease

      113,000 SF industrial property on 10+ acres available for lease.
      200 Mckenzie Rd, Mooresville, NC 28115
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    156 W Statesville Ave
    Mooresville, NC 28115
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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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