600-650 S Main St - Apartments FOR SALE


Mooresville, NC 28115
$5,650,000 USD
704-575-0323
600-650 S Main St, Mooresville, NC for Sale
$5,650,000 USD
Apartments - FOR SALE
1/12
null | 5.5% Cap Rate

600-650 S Main St
Mooresville, NC 28115


HIGHLIGHTS

  • 30 Townhome Property in Vibrant Downtown Mooresville

OVERVIEW

Prime investment opportunity in vibrant downtown Mooresville. This 30 unit townhome property was last purchased in 2018 from the original owner. The current owners have renovated 24 of units and brought them to near market value. Market rents are listed in the financials and there is 0% vacancy. This property is located in the heart of downtown Mooresville surrounded by significant mixed use development. Recent announcements include a multi million dollar renovation to the Historic Baseball park located directly across the street as well as the expansion of the Charlotte Light Rail Red Line that will stop in Mooresville. Existing income on this property makes it a short or long time hold, but the upside of the future development in this rapidly expanding downtown location should be considered. The property is also exactly 3 miles to the Lowes Corporate Offices.

FOR SALE DETAILS

PRICE

$5,650,000 USD

PRICE/SF

$167 USD /SF

# OF UNITS

30

PRICE/UNIT

$188,333

CAP RATE

5.5%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

600 South Main Townhomes

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2001

PARKING SPACES

62

LAND DETAILS

LAND ACRES

2.15 AC

LAND SF

93,654 SF

ZONING

DE

APN/PARCEL ID

4656-78-9608.000

ASK ABOUT THIS PROPERTY

Kristian KelloggPhoenix Development PartnersMore Info
704-575-0323

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Kristian KelloggPhoenix Development PartnersMore Info
704-575-0323

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.