Mill One - Mooresville, NC
Multifamily | 5.60% CAP | 90 Units
Marketing description
Presenting a prime investment opportunity, this property offers 90 modern units, ideal for multifamily or high-rise development, along with ±32,000 SF of retail space. Built in 2021, the property reflects contemporary design and construction, meeting the expectations of discerning residents and retailers. Its strategic location within the thriving Mooresville area maximizes its desirability and growth potential. The property's modern amenities and architectural appeal, combined with its advantageous location, present an attractive prospect for investors aiming to establish a premium multifamily, high-rise, and retail community in this dynamic and sought-after market. With a focus on contemporary living, exceptional quality, and retail opportunities, this property represents a compelling investment opportunity in Mooresville's vibrant landscape.
Investment highlights
- Located in Mooresville: North Carolina's fastest growing city.
- Unrivaled Opportunity: Purchase the trophy asset of Mooresville.
- Incredibly Well Located: Charlotte, MSA, second largest banking hub in the USA.
- High Growth Area: Average rents in MSA at $1,578 with room to grow.
- Proximity to high-ranked schools and Lake Norman. Mooresville 2023 wage growth was 4.5%.
- New Construction: Built in 2021.
- Highly-Curated Commercial/Residential Mix: Mill One has a diverse mix of tenants that serve as an added amenity to the tenants and diversify the income for a landlord.
- Collaborative and community oriented Mooresville-based seller.
- Extremely limited supply and high barrier to entry due to changes in Mooresville UDO passed on 5/20/24.
- Conditional rezoning restrictions on development in Mooresville will continue to drive rents higher.
- Adjacent to 5.5-acre urban park with direct access to downtown.
- Balconies from Mill One overlook the park and provide a bird's eye view to summer concerts and events.
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