For Sale
$1,520,000

627 Gum StMooresville, NC 28115

Historic Church, High Cap Rate, NNN Lease

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a 1-story, 8,157 square foot church building situated on a 0.92-acre lot in Mooresville, North Carolina. Built in 1913, this special-purpose property is currently under a triple-net (NNN) lease with a funeral home operator, providing a stable income stream. The 10-year lease offers a strong 7.20% capitalization rate, representing a compelling return on investment. Located at 627 Gum St, Mooresville, NC 28115, this property benefits from its prime location within Iredell County, a rapidly growing area. The asking price is $1,520,000, translating to $186.34 per square foot. This unique property presents a high barrier to entry due to its specialized nature and desirable location, making it an attractive asset for discerning investors seeking a stable, long-term investment with significant upside potential in a thriving market. The property's history and established tenant provide a solid foundation for future growth and profitability. This is a rare chance to acquire a well-positioned, income-generating property in a high-demand area.

Highlights

  • $1,520,000 asking price.
  • 8,157 square foot special purpose property.
  • $186.34 price per square foot.
  • 7.20% cap rate.
  • 1913 year built, single-story building on a 0.92-acre lot in Mooresville, NC.
  • Currently leased to a funeral home under a long-term NNN lease.

Property Details for 627 Gum St

Property type
Specialty properties, Churches & religious facilities
Square Feet
8,157 SF
Year Built
1913
Buildings
1
Stories
1
Lot Size (sq. ft)
40,075 SF

Location Insight

City
Mooresville
County
Iredell
State
North Carolina
Latitude
35.5875976
Longitude
-80.8029559
627 Gum St, Mooresville, North Carolina

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627 Gum St
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