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Property profile & analytics
OFF-MARKET
Estimated value
$1,875,000
Flex space
1614 Azalea Rd 1618 Mooresville, NC 28115
Entity Owned
Absentee Owner
Free & Clear
Property ID
US53-3709447
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1971
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
44,640 SF
Lot
14.28 ac (621,863 SF)
Zoning code
HB
APN
4677-16-3439.000
UPID
US53-3709447
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
$1.86M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.88M
Owner & transaction history
Laseter Development Group LLC
Laseter Development Group LLC
since 2025
Last sale
$1.9M
3 recorded transactions
Zoning & alternative use
HB · 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
$1,930,000
ML approach
$1,855,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.88M
Range $1.69M – $2.06M · ±10% · vs last sale $1.86M (Dec 20 2021)
Last sale anchor
$1.86M
Dec 20 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
$42 / 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
$14,535
Tax year 2023
Assessed value
$1,951,030
Assessed 2023
Previous assessed
$1,185,270
+64.6% YoY
Effective rate
0.74%
On assessed value
Assessed land
$713,800
Assessed improvement
$1,237,230
Land market value
$713,800
Improvement market value
$1,237,230
Total market value
$1,951,030
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1971
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Cooling
AC.PACKAGE
Buildings
2
Stories
1
Rooms
13
Bathrooms
1
Total area
44,640 SF
Lot
14.28 ac (621,863 SF)
Zoning code
HB
APN
4677-16-3439.000
UPID
US53-3709447
Jurisdiction
IREDELL
Zoning & alternative use
HB · Mooresville, NC
Zoning HB · permitted uses
HB · 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.
Building & site characteristics
From public records
Year built
1971
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Buildings
2
Rooms
13
Bathrooms
1
Lot
14.28 ac
Current owner
From public records · entity-resolved
Laseter Development Group LLC
Entity
Free & Clear · 0 yrs held
Mailing address
315 SPG GDN ST UNIT 1B, GREENSBORO, NC 27401-2767
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 24, 2025
—
Laseter Development Group LLC
Jacks Heavy Property LLC
Deed
—
Dec 20, 2021
$1,859,000
Jacks Heavy Property LLC
Fellfab Enerprises LLC
Warranty Deed
—
Aug 11, 2017
$1,000,000
Fellfab Ents LLC
Top Flight Realty LLC
Warranty Deed
—
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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