222 S Main St

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222 S Main St

Mooresville, NC 28115
Asking Price
$24.80M
Asset Type
Multifamily
Class
Class B

What's Special

Located at 222 S Main Street, this multifamily property sits in the historic heart of downtown Mooresville. The surrounding neighborhood is characterized by a blend of restored brick architecture, local retail boutiques, and diverse dining options, all within walking distance. The location offers direct access to Main Street’s commercial corridor and sits approximately 30 miles north of Charlotte via Interstate 77. Nearby amenities include Liberty Park and various community services, providing a walkable urban environment within a suburban regional context. The property is positioned for residential redevelopment or long-term rental operations. Given its central location, it is well-suited for a professional tenant profile seeking proximity to downtown employment hubs and essential services. The asset provides functional housing options for individuals or small households who prioritize pedestrian access to local commerce and transit routes. Its configuration supports a mix of workforce housing or market-rate apartments designed for commuters and local service industry employees.

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NOI
$80,000
Cap Rate
0.32%
DSCR
0.05
Underwater
Cash-on-Cash
-18.71%
Monthly Payment
$122,696.869
Annual Cash Flow
$-1,392,362.424

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