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 asset is situated in the historic heart of downtown Mooresville, North Carolina. The surrounding neighborhood features a mix of local retail boutiques, professional offices, and established dining options within walking distance. Residents have immediate access to Liberty Park and the Charles Mack Citizen Center, which serve as central community hubs. The property is positioned near Highway 115 and is less than five miles from Interstate 77, providing a direct vehicular commute to the Lake Norman area and the greater Charlotte metropolitan region. The property is suited for rental housing conversion or high-density residential development. Given its proximity to the town’s commercial core, the location typically attracts a tenant profile of young professionals and urban commuters seeking a walkable lifestyle. The site also appeals to employees of the nearby Lowe’s Corporate Headquarters and the regional healthcare sector. Its central position makes it a viable option for those prioritizing accessibility to localized municipal services and downtown employment centers while maintaining a presence in a growing suburban submarket.

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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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