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Property profile & analytics
OFF-MARKET
Estimated value
$760,000
Retail space
287 Main St Mooresville, NC 28115-2527
Individually Owned
Absentee Owner
Free & Clear
Property ID
US53-1090969
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1953
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,198 SF
Lot
0.17 ac (7,579 SF)
Zoning code
TD
APN
4667-12-9585.000
UPID
US53-1090969
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
by Request
CAP Approach
CAP
$795k
Comparable Approach
Comparable
$872k
Blend (final)
Blend
$760k
Owner & transaction history
Richard C Gibson
Richard C Gibson
since 2025
3 recorded transactions
Zoning & alternative use
TD · Mooresville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 intense mix of office, retail, service, restaurant, entertainment, cultural, civic, and residential development that cohesively preserve the distr…
Zone name
Traditional Downtown
General category
MIXED_USE
Zone area
142.26 ac
Source
Realmo
Top alternative use upside
Medical building
$820,000
+29.6%
Office building
$760,000
+20.1%
Commercial (general)
$730,000
+15.3%
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%
$860,000
6.5%
$795,000
7%
$735,000
Alternative Use
Use
Estimation
RETAIL STORES
$630,000
Current use
MEDICAL BUILDING
$820,000
Change: +30% · Conversion: Difficult
OFFICE BUILDING
$760,000
Change: +20% · Conversion: Easy
COMMERCIAL (GENERAL)
$730,000
Change: +15% · Conversion: Easy
Blend value · Realmo final
$760k
Range $684k – $836k · ±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
$181 / 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
$7,434
Tax year 2023
Assessed value
$581,410
Assessed 2023
Previous assessed
$264,780
+119.6% YoY
Effective rate
1.28%
On assessed value
Assessed land
$174,000
Assessed improvement
$407,410
Land market value
$174,000
Improvement market value
$407,410
Total market value
$581,410
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1953
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Rooms
1
Bathrooms
2
Total area
4,198 SF
Lot
0.17 ac (7,579 SF)
Zoning code
TD
APN
4667-12-9585.000
UPID
US53-1090969
Jurisdiction
IREDELL
Zoning & alternative use
TD · Mooresville, NCZoning TD · permitted uses
TD · Mooresville, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
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 intense mix of office, retail, service, restaurant, entertainment, cultural, civic, and residential development that cohesively preserve the districts character as a historic, walkable center of activity. The district allows a mix of retail, restaurant, entertainment, and institutional development, as well as medium to highdensity residential uses. Vertical mixed use development with residential uses above ground floor nonresidential development is encouraged.
Zone name
Traditional Downtown
General category
MIXED_USE
Zone area
142.26 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$630,000
MEDICAL BUILDING
Est. value
$820,000
OFFICE BUILDING
Est. value
$760,000
COMMERCIAL (GENERAL)
Est. value
$730,000
RETAIL STORES Current
MEDICAL BUILDING
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
1953
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Rooms
1
Bathrooms
2
Lot
0.17 ac
Current owner
From public records · entity-resolved
Richard C Gibson
Individual
Free & Clear · 0 yrs held
Mailing address
414 S MAGNOLIA ST, MOORESVILLE, NC 28115-2827
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 17, 2025
—
Richard C Gibson
Richard C Gibson
Deed
related
—
Jan 11, 1988
$85,000
William H Gibson
Unknown
Grant Deed
—
—
—
Richard C Gibson
—
Deed Of Trust
related
$127,700 · Bank Of America
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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