Property profile

260 Main St Mooresville, NC 28115

OFF-MARKET
Drive through restaurants
Property ID
US53-2179907
2,405 SF 0.74 ac lot Built 1973
Individually Owned Absentee Owner Free & Clear
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Property summary

AI-generated overview

This exceptional ±0.82-acre site presents a prime opportunity for multi-family development in the heart of Mooresville, North Carolina. Approved for a 37-unit project, this land offers significant potential for investors seeking a high-return venture. The property is ideally located on 260 S Main St, just steps away from Mooresville's vibrant downtown area, boasting a thriving retail scene, diverse restaurants, and an active nightlife. Its convenient location ensures easy access to amenities and a desirable lifestyle for future residents. The site's APN numbers are 4667002847, 4667001847, and 4667002893. Furthermore, this development opportunity is situated within the highly-regarded Mooresville Graded School District, a top-ranked school system in North Carolina, making it particularly attractive to families. The asking price for this exceptional property is $1,406,000. The property is zoned for residential multi-family use and includes ample space for parking to accommodate the planned 37 units. This location offers a blend of urban convenience and suburban tranquility, making it an ideal location for a thriving multi-family community. The property's proximity to downtown Mooresville ensures residents have easy access to a variety of shops, restaurants, and entertainment options. This is a rare opportunity to acquire a well-situated, approved development site in a rapidly growing area.

Property profile

Verified
Property type Drive through restaurants
Use group DRIVE-THRU RESTAURANT, FAST FOOD
Year built 1973
Construction WOOD
Total area 2,405 SF
Lot 0.74 ac (32,322 SF)
Zoning code TD
APN 4667-01-2050.000
UPID US53-2179907

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Restaurant

Location

260 Main St Mooresville, NC 28115-3166
Mooresville metro Census 61601 CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$300k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$300k

Owner & transaction history

Zoning & alternative use

TD · Mooresville, NC
Zoning description

The TD (Traditional Downtown) district is intended to support and preserve the urban form of downtown Mooresville. District standards support the development of the downtown as a focal point in Mooresville with an intens…

General category MIXED_USE

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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