New search
Property profile & analytics
OFF-MARKET
Estimated value
$48,975,000
Garden apartment buildings
181 Ervin Rd, Mooresville, NC 28117-9089
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US53-2860037
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
2013
Construction
WOOD
Total area
23,255 SF
Lot
22.23 ac (968,339 SF)
Zoning code
CM
APN
4647-08-9740.000
UPID
US53-2860037
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$46.52M
Blend (final)
Blend
$48.98M
Owner & transaction history
Bell Fund Vii Lake Norman LP · 5 yrs held
Bell Fund Vii Lake Norman LP
since 2021
Last sale
$51.0M
7 recorded transactions
Zoning & alternative use
CM · Mooresville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$46.2M
+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
$52,890,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$31,925,000
Current use
COMMERCIAL (GENERAL)
$46,225,000
Change: +45% · Conversion: Moderate
Blend value · Realmo final
$48.98M
Range $44.08M – $53.87M · ±10% · vs last sale $51.00M (May 4 2021)
Last sale anchor
$51.00M
May 4 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
$2,106 / 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
$510,178
Tax year 2023
Assessed value
$51,862,360
Assessed 2023
Previous assessed
$33,806,520
+53.4% YoY
Effective rate
0.98%
On assessed value
Assessed land
$3,467,880
Assessed improvement
$48,394,480
Land market value
$3,467,880
Improvement market value
$48,394,480
Total market value
$51,862,360
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
12
Stories
2
Units
20
Total area
23,255 SF
Lot
22.23 ac (968,339 SF)
Zoning code
CM
APN
4647-08-9740.000
UPID
US53-2860037
Jurisdiction
IREDELL
Zoning & alternative use
CM · Mooresville, NC
Zoning CM · permitted uses
CM · 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
$31.9M
COMMERCIAL (GENERAL)
Est. value
$46.2M
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
12
Units
20
Lot
22.23 ac
Current owner
From public records · entity-resolved
Bell Fund Vii Lake Norman LP
Entity
Mailing address
300 N GREENE ST STE #1000, GREENSBORO, NC 27401-2173
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
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 4, 2021
$51,000,000
Bell Fund Vii Lake Norman LP
Centennial Plantation Pointe LLC
Warranty Deed
$34,807,000 · Walker & Dunlop LLC
Mar 25, 2020
—
Centennial Plantation Pointe L
—
Deed
related
$28,599,000 · Cbre Cap Markets
Dec 15, 2016
—
Centennial Plantation Pointe L
Plantation Pointe Apartments L
Quit Claim Deed
related
—
Dec 15, 2016
$35,000,000
Centennial Plantation Pointe L
Plantation Pointe Apartments L
Grant Deed
related
$27,000,000 · Cbre Cap Markets
May 22, 2015
$404,000
Brian P Campbell
Parker & Orleans Homebuilders
Warranty Deed
$326,308 · Prime Lndg
Oct 1, 2013
$1,920,000
Parker & Orleans Homebuilders
Cambridge Mooresville LLC
Grant Deed
—
Sep 27, 2013
$1,287,500
Cambridge Mooresville LLC
Stutts Family LP Rlllp
Grant Deed
$1,187,182 · Stutts Family LP Rlllp
Dec 13, 2012
—
Pointe Apartments L Plantation
—
Deed Of Trust
related
$17,800,000 · Certusbank NA
Jul 14, 2010
$480,000
Trinity Baptist Ch Of Mooresville
Stutts Family LP
Warranty Deed
$120,000 · North Carolina Baptist Fin'l S
—
—
Centennial Plantation Pointe L
—
Deed Of Trust
related
$28,599,000 · Cbre Cap Markets
—
—
Sara S Stutts
—
Deed Of Trust
related
$50,000 · Bank Of America California NA
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 181 Ervin Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
