Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    521 Plz Dr Mooresville, NC 28115-8071

    • Drug stores
    • 3,987 SF
    OFF-MARKET
    Value Estimations
    $550,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-0879023
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Cannon Pharmacy (Mooresville) / Pharmacy
    • Ryan T. Yanicko, PharmD / Pharmacy

    Property Details for 521 Plz Dr

    Year built
    1985
    Construction
    STEEL FRAME
    Property size
    3,987 SF
    Property type
    Drug stores
    APN
    4667-07-8988.000 C
    APU
    4667078988000C

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $815,000
      6.5%
      $755,000
      7%
      $700,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $719,000
      Market price range: $270k - $828k
      AI Estimate
      $438,000
      Market price range: $154k - $608k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $600,000
      Current use
      MEDICAL BUILDING
      $780,000
      Change: +30% Conversion: Difficult
      OFFICE BUILDING
      $720,000
      Change: +20% Conversion: Easy
      COMMERCIAL (GENERAL)
      $690,000
      Change: +15% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Mooresville
    County
    Iredell
    State
    North Carolina
    Longitude
    -80.8133
    Latitude
    35.5988
    CBSA code
    16740
    CBSA name
    CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $4,754
    $0.00
    $417,490
    $417,490
    -
    $0.00
    $417,490
    $417,490

    Comparable in this City

    • Value Estimation
      $2,100,000
      11,487 SF

      274 Main St

      DRUG STORE, PHARMACY • 11,487 SF
      274 Main St, Mooresville, NC 28115-2528
      View Details
    • Value Estimation
      $590,000
      5,074 SF

      594 Main St

      DRUG STORE, PHARMACY • 5,074 SF
      594 Main St, Mooresville, NC 28115-2328
      View Details
    • Value Estimation
      $1,595,000
      17,259 SF

      230 Plz Dr

      DRUG STORE, PHARMACY • 17,259 SF
      230 Plz Dr, Mooresville, NC 28115-8097
      View Details
    • Value Estimation
      $865,000
      7,200 SF

      505 Plz Dr

      RETAIL STORES (PERSONAL SERVICES) • 7,200 SF
      505 Plz Dr, Mooresville, NC 28115-8071
      View Details
    • Value Estimation by Request
      880 SF

      1045 Briarhill Rd

      RETAIL STORES (PERSONAL SERVICES) • 880 SF
      1045 Briarhill Rd, Mooresville, NC 28115-2333
      View Details
    • Value Estimation by Request
      576 SF

      15000 Mooresville Rd

      RETAIL STORES (PERSONAL SERVICES) • 576 SF
      15000 Mooresville Rd, Mooresville, NC 28115
      View Details

    Similar Nearby for Sale

    • $5,475,000
      0.79 Acres

      Renovated Mixed-Use Investment Property

      Fully leased mixed-use property in Mooresville, North Carolina.
      166-186 N Broad St, Mooresville, NC 28115
      View Details
    • New
      $1,900,000
      1.69 Acres

      Commercial Building Near Downtown Mooresville

      13,944 SF commercial building on 1.6 acres near I-77.
      770-772 N Broad St, Mooresville, NC 28115
      View Details
    • $1,900,000

      Versatile Property with Equestrian Features

      19.677-acre property featuring a brick ranch home and equestrian facilities.
      269 Johnson Dairy Rd, Mooresville, NC 28115
      View Details
    • $6,950,000
      2,597 SF

      22-Acre Estate with Income Potential

      Estate with log home, event barn, and collision center.
      1620 London Rd, Mooresville, NC 28115
      View Details
    • $1,200,000
      5,067 SF

      Mooresville Business Opportunity: Prime Location

      High-Visibility Service Station & Auto Repair Shop
      1041 Main St, Mooresville, NC 28115
      View Details
    • $1,520,000
      8,157 SF

      Mooresville Church Investment Opportunity

      Historic Church, High Cap Rate, NNN Lease
      627 Gum St, Mooresville, NC 28115
      View Details

    Similar Nearby for Lease

    • $40 SF/Yr
      3,554 SF

      Prime Retail Space, Downtown

      Upscale storefront, Liberty Park views
      201 Church St, Mooresville, NC 28115
      View Details
    • $19 SF/Yr
      4,445 SF

      Mooresville Flex/Retail Space Available

      Flex/retail space with ample parking and frontage on N. Main.
      1113-1131 N Main St, Mooresville, NC 28115
      View Details
    • Contact for pricing

      Corner Parcel in High-Growth Area

      2.8-acre corner parcel in a high-growth residential market.
      111 Rocky River Rd, Mooresville, NC 28115
      View Details
    • $1,950 /Mo

      Furnished Office Space on Main

      Furnished second-floor office space with natural light in Mooresville.
      222 Main St N, Mooresville, NC 28115
      View Details
    • $2,150 /Mo
      48,787 SF

      Updated Commercial Space in Mt. Ulla

      Versatile, updated commercial space with ample parking and excellent visibility.
      1451 Mount Ulla Hwy, Mt Ulla, NC 28115
      View Details
    • Contact for pricing

      Corner Parcel in Mooresville, NC

      2.8 acre corner parcel with excellent visibility and access.
      Mooresville, NC 28115
      View Details

    Property Visit Statistics

    • Visits by month
      3.4k
    • Visitors by month
      2.3k
    • Avg Time on site
      25 min
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    521 Plz Dr
    Mooresville, NC 28115-8071
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.