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Property profile & analytics
OFF-MARKET
Estimated value
$4,825,000
Warehouses
255 Raceway Dr, Mooresville, NC 28117-6510
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-0967005
Property summary
AI-generated overview
This exceptional industrial warehouse property, located at 255 Raceway Drive in Mooresville, North Carolina, presents a significant leasing opportunity. The property boasts a total of 50,452 square feet across two suites within a single, two-story Class B building constructed in 2003. Currently, 23,643 square feet of warehouse space is readily available for lease, offering ample room for various industrial operations. Situated on a generous 3.3-acre lot, the property provides significant outdoor space, ideal for storage or maneuvering. The building features 32 total parking spaces for convenient employee and visitor access. The property is zoned HI and has an APN of 4647536817 within Iredell County. This location offers easy access to major transportation routes, making it an attractive option for businesses needing efficient logistics. The property's size and features make it suitable for a variety of industrial uses. Don't miss this chance to secure a well-located, spacious warehouse in a thriving area. Contact us today to schedule a showing and explore the possibilities. The property is in Mooresville, NC, zip code 28117.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2003
Construction
STEEL FRAME
Total area
45,360 SF
Lot
3.3 ac (143,748 SF)
Zoning code
HLI
APN
4647-53-6817.000
UPID
US53-0967005
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
Current use
Occupant on record · Public records
-
Composite Factory LLC Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.07M
Comparable Approach
Comparable
$6.45M
Blend (final)
Blend
$4.83M
Owner & transaction history
Atc Properties LLC · 3 yrs held
Atc Properties LLC
since 2023
1 recorded transaction
Zoning & alternative use
HLI · Mooresville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$6.8M
+8.8%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$5,495,000
6.5%
$5,070,000
7%
$4,710,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$6,280,000
Current use
RETAIL STORES
$6,830,000
Change: +9% · Conversion: Moderate
Blend value · Realmo final
$4.83M
Range $4.34M – $5.31M · ±10%
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
$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
$51,998
Tax year 2023
Assessed value
$4,566,880
Assessed 2023
Previous assessed
$3,546,620
+28.8% YoY
Effective rate
1.14%
On assessed value
Assessed land
$801,900
Assessed improvement
$3,764,980
Land market value
$801,900
Improvement market value
$3,764,980
Total market value
$4,566,880
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2003
Construction
STEEL FRAME
Heating
YES
Cooling
YES
Stories
1
Bathrooms
1
Total area
45,360 SF
Lot
3.3 ac (143,748 SF)
Zoning code
HLI
APN
4647-53-6817.000
UPID
US53-0967005
Jurisdiction
IREDELL
Zoning & alternative use
HLI · Mooresville, NC
Zoning HLI · permitted uses
HLI · 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
WAREHOUSE, STORAGE Current
Est. value
$6.3M
RETAIL STORES
Est. value
$6.8M
WAREHOUSE, STORAGE Current
RETAIL STORES
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
2003
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Stories
1
Bathrooms
1
Lot
3.3 ac
Current owner
From public records · entity-resolved
Atc Properties LLC
Entity
Mailing address
143 BRAWLEY HBR PL, MOORESVILLE, NC 28117-6035
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 30, 2023
—
Atc Properties LLC
—
Deed
related
$2,000,000 · Truist Bank
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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