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Property profile & analytics
OFF-MARKET
Estimated value
$910,000
Office Spaces
229 Medical Park Rd Ste 300 Mooresville, NC 28117-8544
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US53-2320316
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
2006
Construction
STEEL FRAME
Total area
3,567 SF
Lot
1.62 ac (70,698 SF)
Zoning code
CM
APN
4646-81-6510.300
UPID
US53-2320316
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
$940k
CAP Approach
CAP
$1.03M
Comparable Approach
Comparable
$910k
Blend (final)
Blend
$910k
Owner & transaction history
Mount Mourne Springs LLC · 7 yrs held
Mount Mourne Springs LLC
since 2018
Last sale
$900,000
5 recorded transactions
Zoning & alternative use
CM · 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
$1,050,000
ML approach
$940,000
CAP Approach
CAP Return
Estimation
6%
$1,110,000
6.5%
$1,025,000
7%
$955,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,070,000
Current use
Blend value · Realmo final
$910k
Range $819k – $1.00M · ±10% · vs last sale $900k (Jan 31 2025)
Last sale anchor
$900k
Jan 31 2025
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
$255 / 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
$9,229
Tax year 2023
Assessed value
$938,330
Assessed 2023
Previous assessed
$759,770
+23.5% YoY
Effective rate
0.98%
On assessed value
Assessed land
$253,190
Assessed improvement
$685,140
Land market value
$253,190
Improvement market value
$685,140
Total market value
$938,330
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
Office Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
2006
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
AC.PACKAGE
Stories
3
Rooms
3
Bathrooms
2
Total area
3,567 SF
Lot
1.62 ac (70,698 SF)
Zoning code
CM
APN
4646-81-6510.300
UPID
US53-2320316
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
OFFICE BUILDING Current
Est. value
$1.1M
OFFICE BUILDING Current
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
2006
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
3
Rooms
3
Bathrooms
2
Lot
1.62 ac
Current owner
From public records · entity-resolved
Mount Mourne Springs LLC
Entity
Mailing address
229 MEDICAL PARK RD STE #310, MOORESVILLE, NC 28117-8544
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 3, 2018
—
Mount Mourne Springs LLC
—
Loan Modification
related
$1,600,000 · Capital Bk
Feb 8, 2013
—
Mount Mourne Springs LLC
—
Grant Deed
related
$5,530,000 · Wells Fargo Bk
—
—
Mount Mourne Springs LLC
—
Deed Of Trust
related
$1,800,000 · Carolina Tr Bk
—
—
Mount Mourne Springs LLC
—
Deed Of Trust
related
$1,700,000 · Carolina Tr Bk
—
—
Mount Mourne Springs LLC
—
Deed Of Trust
related
$1,600,000 · Capital Bk
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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