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    Property profile & analytics

    185 Joe Knox Ave Mooresville, NC 28117-9169

    • Medical Office Space
    • 5,336 SF
    • 0.95 lot acres
    OFF-MARKET
    Value Estimations
    $780,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1996435
    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.

    Current Use by Public Records

    • Horizon Eye Care in Mooresville NC / Ophthalmologist
    • Dr. John F. Gillis, MD / Ophthalmologist
    • Hunter Stolldorf, MD / Ophthalmologist
    • Randall Stein / Ophthalmologist
    • Randall Noah Stein / Ophthalmologist

    Property Details for 185 Joe Knox Ave

    Year built
    2004
    Construction
    WOOD
    Lot size
    0.95 lot acres
    Property size
    5,336 SF
    Zone code
    CM
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    4647-24-0982.000
    APU
    4647240982000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $472,000
      Market price range: $167k - $623k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,040,000
      Current use
      RESTAURANT
      $1,290,000
      Change: +24% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Mooresville
    County
    Iredell
    State
    North Carolina
    Longitude
    -80.8767
    Latitude
    35.59
    CBSA code
    16740
    CBSA name
    CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $14,157
    $474,000
    $965,260
    $1,439,260
    -
    $474,000
    $965,260
    $1,439,260

    Comparable in this City

    • Value Estimation
      $715,000
      5,348 SF

      143 Joe Knox Ave

      MEDICAL BUILDING • 5,348 SF
      143 Joe Knox Ave, Mooresville, NC 28117-9243
      View Details
    • Value Estimation
      $730,000
      4,746 SF

      396 Williamson Rd

      MEDICAL BUILDING • 4,746 SF
      396 Williamson Rd, Mooresville, NC 28117-5935
      View Details
    • Value Estimation
      $1,795,000
      16,215 SF

      109 Morlake Dr

      MEDICAL BUILDING • 16,215 SF
      109 Morlake Dr, Mooresville, NC 28117-9069
      View Details
    • Value Estimation
      $5,680,000
      52,766 SF

      146 Medical Park Rd

      MEDICAL BUILDING • 52,766 SF
      146 Medical Park Rd, Mooresville, NC 28117-8528
      View Details
    • Value Estimation
      $1,840,000
      7,665 SF

      125 Days Inn Dr

      MEDICAL BUILDING • 7,665 SF
      125 Days Inn Dr, Mooresville, NC 28117-6323
      View Details
    • Value Estimation by Request
      2,783 SF

      231 Williamson Rd

      MEDICAL BUILDING • 2,783 SF
      231 Williamson Rd, Mooresville, NC 28117-6832
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,700 SF

      Prime Greenwood Road Office Suites

      Modern office space, flexible layouts, all utilities included.
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      1,600 SF

      Mooresville Medical Office Space

      Class A Office, 1600 SF, Vacant
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    • $3,751,668
      17,408 SF

      Mooresville Medical Office Building

      High-yield medical office investment.
      235 Medical Park Rd, Mooresville, NC 28117
      View Details
    • Contact for pricing
      13,009 SF

      Medical Buildings on Williamson Road

      Two connected medical buildings on a 1.47-acre lot.
      357-359 Williamson Rd, Mooresville, NC 28117
      View Details
    • Contact for pricing

      Commercial Office Condo Investment Opportunity

      Tenant-occupied office condo with stable income and growth potential.
      107 Kilson Dr #202, Mooresville, NC 28117
      View Details
    • $525,000

      Commercial Office Condo Investment

      Tenant-occupied office condo with stable income and growth potential.
      107 Kilson Dr, Mooresville, NC 28117
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    Similar Nearby for Lease

    • $17 SF/Yr

      New Construction Flex Suite Available

      New construction flex suite for lease in Mooresville, NC
      1147 Brawley School Rd, Mooresville, NC 28117
      View Details
    • Contact for pricing
      6,581 SF

      Mooresville Medical Office Space

      High-traffic location, 1700 sq ft available
      637 Williamson Rd, Mooresville, NC 28117
      View Details
    • $19 SF/Yr
      11,715 SF

      Mooresville Medical Office Space

      Class A medical suites, ideal location.
      123 Professional Park Dr, Mooresville, NC 28117
      View Details
    • Contact for pricing
      3,589 SF

      Medical Office Space Near Hospital

      Medical office buildings near Lake Norman Regional Medical Center.
      146 Medical Park Rd, Mooresville, NC 28117
      View Details
    • Contact for pricing
      1,363 SF

      Class A Medical Office Space

      Three-story medical and professional office building for lease.
      150 Fairview Rd, Mooresville, NC 28117
      View Details
    • Contact for pricing
      1,700 SF

      Professional Office Space For Rent

      Professional office space available in Mooresville Gateway.
      132 Gateway Blvd, Mooresville, NC 28117
      View Details
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    185 Joe Knox Ave
    Mooresville, NC 28117-9169
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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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