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Design Center Lake Norman 532-533 Patterson Ave 81,135 SF Office Building Mooresville, NC 28115 For Sale
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Investment Highlights
- Design Center Lake Norman is one of the region’s first adaptive reuse projects and now comprises innovative office and flex suites.
- Charming building with irreplicable historic finishes like exposed brick, natural wood ceilings, and stained concrete flooring.
- Location poised for long-term value as the population within a 5-mile radius is projected to grow at an annual rate of 2.6% through 2028.
- Owner/user opportunity for up to 64,329 square feet with value-add potential for investors via capital improvements and increases to market rates.
- Conveniently located minutes from Lake Norman, Downtown Mooresville, and the Lowe's Corporate HQ, Charlotte's 6th-largest employer.
Executive Summary
Discover this incredibly rare opportunity for a new owner to occupy up to 64,329 square feet of space in the near-term future and control phased expansion or rental income over the life of the asset. Conversely, current WALT (average remaining lease term) presents a unique and highly desirable opportunity for an investor to reset existing below-market rents and achieve an immediate value-add strategy.
Originally constructed in the 1920s as a T-shirt manufacturing facility, the Design Center Lake Norman was revitalized in the early 2000s, becoming one of the first adaptive reuse projects in the region. The expansive, efficient floor plans encourage collaboration and innovation, making it an ideal environment for businesses seeking to foster a dynamic, productive work culture.
The Design Center is located at 532-533 Patterson Avenue in the heart of Mooresville, just 30 minutes north of Charlotte. Known to many as "Race City USA," it is the home to the North Carolina Auto Racing Hall of Fame, many NASCAR and IndyCar racing teams and drivers, plus several racing technology suppliers. The property is easily accessible to Lowe's Corporate Headquarters, one of the region's largest employers, and to major interstates, such as Interstate 77 and Highway 150. When high-end work environments fostering creativity, connectivity, and convenience are key, the Design Center is the ideal destination.
Originally constructed in the 1920s as a T-shirt manufacturing facility, the Design Center Lake Norman was revitalized in the early 2000s, becoming one of the first adaptive reuse projects in the region. The expansive, efficient floor plans encourage collaboration and innovation, making it an ideal environment for businesses seeking to foster a dynamic, productive work culture.
The Design Center is located at 532-533 Patterson Avenue in the heart of Mooresville, just 30 minutes north of Charlotte. Known to many as "Race City USA," it is the home to the North Carolina Auto Racing Hall of Fame, many NASCAR and IndyCar racing teams and drivers, plus several racing technology suppliers. The property is easily accessible to Lowe's Corporate Headquarters, one of the region's largest employers, and to major interstates, such as Interstate 77 and Highway 150. When high-end work environments fostering creativity, connectivity, and convenience are key, the Design Center is the ideal destination.
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Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
81,135 SF
Building Class
B
Year Built/Renovated
1960/2002
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
81,135 SF
Building FAR
0.29
Lot Size
6.40 AC
Zoning
G-1 - neighborhood commercial zone district that requires new development to set aside land for park and open space
Amenities
- Fenced Lot
- Signage
- Air Conditioning
1 1
Demographics
Demographics
1 mile
3 mile
5 mile
2020 Population
7,491
33,123
65,802
2024 Population
7,928
34,633
70,883
Population Growth '20-'24
5.8%
4.6%
7.7%
2020 Households
2,844
12,814
25,405
2024 Households
3,004
13,363
27,379
Household Growth '20-'24
5.6%
4.3%
7.8%
Average Age
37
38
39
Median Household Income
$59,703
$67,531
$79,548
Daytime Employees
4,384
14,890
35,013
Total Businesses
674
1,835
4,363
College Degree + Higher
27%
30%
37%
$ values in USD
Property Taxes
| Parcel Number | 4667-25-8732.000 | Improvements Assessment | $3,154,515 CAD |
| Land Assessment | $331,425 CAD | Total Assessment | $3,485,940 CAD |
Property Taxes
Parcel Number
4667-25-8732.000
Land Assessment
$331,425 CAD
Improvements Assessment
$3,154,515 CAD
Total Assessment
$3,485,940 CAD
Sale Advisors
Sale Advisors
Charlie Swanson, Principal
Since graduating from UNC Chapel Hill in 1998, Charlie has spent his entire professional career solely focused on working with owners and tenants in the greater Charlotte NC commercial real estate market. Before joining Park Commercial Real Estate in 2018, Charlie was Director of Office Investments at Beacon Partners, where he worked 15 years serving as an office broker, asset manager and with acquisitions for the firm’s Charlotte based office portfolio. Prior to Beacon Partners, Charlie was a commercial real estate underwriting specialist at Wells Fargo Bank and also served in various property and construction management roles at Queens Properties a division of JA Jones Construction.
Chandler Knox, Partner
For six years prior to joining Park Commercial Real Estate in 2021, Chandler was a Vice President at Colliers International where he served owners and users in the sale and leasing of office properties throughout the Charlotte region. Before his time at Colliers, he was a District Manager for Aldi (national grocery chain), where he managed a multi-store district of 60+ employees and over $35 million in annual revenue. Chandler is an expert in all facets of office brokerage and investment within the Charlotte market. He uses his discipline and work ethic from his time as a Division-I athlete as well as his management and communication skills from his Aldi DM role to serve his clients with integrity, professionalism, and humility.
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Design Center Lake Norman | 532-533 Patterson Ave
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