Property profile

275 Broad St Mooresville, NC 28115

OFF-MARKET
Warehouses
Property ID
US53-1168005
5,900 SF 0.43 ac lot Built 1986
Entity Owned 3-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional 5,900 square foot retail or restaurant space is located at 275 S. Broad Street in the heart of Downtown Mooresville, North Carolina. Built in 1986 and completely renovated in 2023, this single-tenant property sits on a 0.43-acre lot and is classified as a Class B building. The property features a single story and is zoned TD, offering flexibility for a variety of uses under the new Unified Development Ordinance (UDO). The building's existing infrastructure is well-suited for restaurant operations. The 5,900 square feet of vacant space presents a blank canvas for a creative entrepreneur to establish a thriving business in this rapidly growing downtown area. Its strategic location within the vibrant Downtown Mooresville submarket ensures high visibility and accessibility to a large customer base. The property's convenient location minimizes parking concerns, a significant advantage in a bustling downtown setting. The Iredell County location (APN 4657918017.00) offers a strong foundation for a successful venture, capitalizing on the energy and growth of Mooresville's downtown core. This is a unique chance to establish a prominent presence in a thriving community. The property's recent renovation ensures a move-in ready condition, allowing for immediate occupancy and business commencement. This presents a rare opportunity to establish a business in a prime location with minimal upfront investment in renovations.

Property profile

Verified
Property type Warehouses
Use group WAREHOUSE, STORAGE
Year built 1986
Construction STONE
Total area 5,900 SF
Lot 0.43 ac (18,600 SF)
Zoning code TD
APN 4657-91-8017.000
UPID US53-1168005

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
  • Charitable Organization Social Service Agency
  • Food Bank Charitable Organization

Location

275 Broad St Mooresville, NC 28115-3103
Mooresville metro Census 61601 CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$825k
CAP Approach CAP
$660k
Comparable Approach Comparable
$495k
Blend (final) Blend
$825k

Owner & transaction history

since 2023
Last sale
$735,000
2 recorded transactions
2023
$735,000
2007
$350,000

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
Top alternative use upside
Medical building $1.2M +85.4%
Office building $1.1M +71.9%
Commercial (general) $1.0M +65.0%

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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