
River Park Office Building
Office | 6.56% CAP | 16,000 SqFt
Marketing description
Class A office building located off HWY 150 in growing Mooresville, North Carolina. Built in 2006 by local builder, Spivey, this three-story office building contains 11 individual commercial condos that culminate in over 16,000 sf of contemporary offices. The main floor is fully leased with tenants leasing suite 106 (approximately 2285 sf) and suite 102 (approximately 2107 SF). The second floor contains over 5000 sf with 2 open office spaces, 12 offices and a conference room. This floor can be demised to support 2 tenants or owner can potentially occupy the entire floor. The fully leased lower level is comprised of an estimated 5000 sf with a large training room and 6 private offices as well as an open office area. This space also connects to outdoor gazebo and wooded retreat area.
This location is less than 3 miles from I77. Growth in neighboring Troutman and Denver, North Carolina increase the demand for office space in this corridor of Mooresville. Ample parking provided for the building as well as an elevator for easy access to all floors. Taxes are limited to only Iredell County assessment. Prime opportunity to own an investment property or for an owner operator to occupy 5000 sf and collect the income from the remainder of the fully leased main and lower floors.
Investment highlights
- Rare opportunity to own class A office space in Mooresville.
- Strong visibility along Mooresville main road- HWY 150 with easy access to I77 and Route 16.
- Stable tenant occupancy
- Current market rents in line with general office use in Mooresville
- Ample parking
- Strong demographic growth
- Property is a collection of 11 commercial office condos thus allowing the owner to sell off condos in the future
- Future value add- NCDOT scheduled to widen HWY 150 at the entrance to River Park Road. This widening is slated to begin in 18-24 months and will result in a required right hand turn when exiting River Park onto HWY 150 with sufficient u-turn lanes for semi-trailers to head west on HWY 150.
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