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Station Two22 222 S Main St 82 Unit Apartment Building $26,200,000 ($319,512/Unit) 5% Cap Rate Mooresville, NC 28115
Investment Highlights
- Extremely limited supply and high barrier to entry
Executive Summary
New Construction- Located in Mooresville- North Carolina’s Fastest Growing City! Incredibly Well Located in the Charlotte MSA, the second largest banking hub in the USA. High Growth Area- Average rents in MSA at $1,578 with room to grow. Proximity to highly-ranked schools and Lake Norman. Attractive Seller Participation possible- Some seller rollover equity available. Highly-Curated Commercial/Residential Mix- Station Two22 has a diverse mix of tenants that serve as an added amenity to the tenants and diversify the income for a landlord. 82 Residential Units and +- 9,200sf of Class A retail.
Property Facts
| Price | $26,200,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $319,512 | Building Class | A |
| Sale Type | Investment | Lot Size | 2.11 AC |
| Cap Rate | 5% | Building Size | 88,045 SF |
| No. Units | 82 | No. Stories | 5 |
| Property Type | Multifamily | Year Built | 2023 |
| Property Subtype | Apartment | ||
| Zoning | CMX - CMX in Town Center | ||
| Price | $26,200,000 |
| Price Per Unit | $319,512 |
| Sale Type | Investment |
| Cap Rate | 5% |
| No. Units | 82 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | A |
| Lot Size | 2.11 AC |
| Building Size | 88,045 SF |
| No. Stories | 5 |
| Year Built | 2023 |
| Zoning | CMX - CMX in Town Center |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Storage Space
- Heating
- Kitchen
- High Speed Internet Access
- Refrigerator
- Oven
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Clubhouse
- Package Service
- Planned Social Activities
- Smoke Free
- Lounge
- Maintenance on site
- Online Services
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | - | 640 - 688 |
| 1+1 | 40 | - | 625 - 897 |
| 2+2 | 31 | - | 1,081 - 1,262 |
| 3+2 | 11 | - | 1,316 - 1,374 |
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Walk Score®
Very Walkable (74)
Property Taxes
| Parcel Number | 4667-01-5201.000 | Improvements Assessment | $17,060,440 |
| Land Assessment | $469,090 | Total Assessment | $17,529,530 |
Property Taxes
Parcel Number
4667-01-5201.000
Land Assessment
$469,090
Improvements Assessment
$17,060,440
Total Assessment
$17,529,530
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Station Two22 | 222 S Main St
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