Mill One 201 N Church St 90 Unit Apartment Building $53,813,869 CAD ($597,932 CAD/Unit) 5.10% Cap Rate Mooresville, NC 28115

Discover the unrivaled opportunity to purchase the trophy, A+ mixed-use asset at 201 N Church Street, better known as Mill One, the crown jewel of Mooresville, NC.

Originally built in 2021 on 2.27 acres, this stunning property combines 90 residential units with approximately 32,000 square feet of Class-A retail space. These accessible retail locations serve as a desirable amenity that helps to attract and retain quality tenants. Additionally, the community offers a lush courtyard and picnic area, as well as onsite maintenance and property management.

Strategically located within North Carolina’s fastest growing city, this rare opportunity allows investors to break into or expand in the Charlotte MSA, the country’s second-largest banking hub. There is extremely limited supply of quality housing units in the area, as well as a higher barrier to entry due to changes in Mooresville UDO passed on 5/20/2024. Average rents across the MSA surpass $1,570 with plenty of additional room to growth. This presents an exceptional upside for a new owner to bring rents inline with the growing market average and increase revenue.

Mill One benefits from an easily reachable location within ten minutes of Highway 21 and Interstate 77. Sitting just one block off Mooresville’s Main Street/Broad Street Corridor, the property has quick access to the city’s most popular retailers. Residents can also find dozens of household name shopping and dining brands surrounding the interstate. Adjacent to the property is a lush 5.5-acre urban park with basketball courts and a playground that serves as a popular gather place for the local community. Balconies at Mill One overlook the park and provide a bird’s eye view to summer concerts and events.

Don’t miss this rare chance to acquire a trophy asset of the Charlotte MSA with the stunning mixed-use community at Mill One. There is assumable financing in place for approximately $23,000,000 at a ±4.32% fixed rate.