201 N Church St

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201 N Church St

Mooresville, NC 28115
Asking Price
$37.59M
Asset Type
Multifamily
Class
Class B

What's Special

201 N Church St is situated in the historic downtown district of Mooresville, North Carolina. The neighborhood features a mix of restored brick architecture and contemporary commercial developments, offering a walkable urban environment. Residents have immediate access to local restaurants, retail boutiques, and professional services along Main Street. The property is positioned near Highway 115 and offers convenient proximity to the Interstate 77 corridor, providing a direct connection to southern Iredell County and the greater Charlotte metropolitan area. This location is suited for a high-density multifamily development or a boutique apartment conversion. Given the proximity to the Lowe’s Corporate Headquarters and the regional healthcare sector, the typical tenant profile includes young professionals and corporate employees seeking a central, commuter-friendly residence. The site also appeals to individuals prioritizing pedestrian access to downtown employment centers and social amenities. The property’s zoning and central placement support long-term residential demand within a stabilizing submarket.

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NOI
$80,000
Cap Rate
0.21%
DSCR
0.04
Underwater
Cash-on-Cash
-19.08%
Monthly Payment
$185,969.863
Annual Cash Flow
$-2,151,638.353

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