| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Good |
| Demographics | 61st | Good |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 276 Overhead Bridge Rd, Mooresville, NC, 28115, US |
| Region / Metro | Mooresville |
| Year of Construction | 2009 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
276 Overhead Bridge Rd, Mooresville NC Multifamily Investment
Neighborhood occupancy is solid and renter demand is supported by household growth within 3 miles, according to WDSuite’s CRE market data. With a suburban setting and larger floor plans, the asset positions for stable leasing rather than amenity-driven premiums.
Mooresville sits in the Charlotte-Concord-Gastonia metro with a suburban profile and limited immediate retail density, so the value proposition leans on space, commute patterns, and household formation rather than walkability. Neighborhood occupancy is 95.5%, which places it above the metro median (ranked 203 out of 709 neighborhoods) and in the top quartile nationally, per commercial real estate analysis from WDSuite. For investors, that suggests steady leasing and lower downtime, even without a heavy amenity base.
Renter concentration within a 3-mile radius is roughly three-tenths of housing units being renter-occupied, indicating a meaningful but not dominant tenant pool. This balance typically supports stable absorption for quality multifamily product while limiting direct competition from large clusters of rentals. In the immediate neighborhood, the share of renter-occupied housing is lower than many urban submarkets, which often translates to longer tenures for well-managed properties.
Within 3 miles, population and households have expanded over the past five years, with additional growth projected through the next cycle. A larger household base and rising incomes in the area point to a deeper tenant pipeline, which can support occupancy stability and disciplined rent setting. Projections also show continued increase in households, reinforcing the outlook for multifamily demand rather than signaling new unit construction.
Ownership costs in the neighborhood are elevated relative to many secondary markets (median home value ranks 185 of 709 metro neighborhoods and sits in the 73rd percentile nationally), which tends to sustain reliance on rental housing. Rent-to-income levels track near the national middle, implying manageable affordability pressure that supports retention and measured pricing power for professionally operated assets.
Safety conditions benchmark differently at the metro and national levels. Relative to Charlotte-area neighborhoods, crime ranks closer to the more challenged cohort (lower rank among 709 metro neighborhoods indicates comparatively higher crime locally). Nationally, however, the neighborhood scores above the median, with property and violent offense measures landing in favorable percentiles versus neighborhoods nationwide, based on WDSuite data.
Recent trends are constructive: estimated property crime has moved down notably year over year, while violent crime sits around mid-to-better national comparisons. For investors, this mix suggests prudent on-site security and lighting standards remain appropriate, but area trends do not presently indicate outsized, persistent risk compared to national peers.
The employment base mixes headquarters and major corporate offices that help support renter demand through commute convenience and diversified white-collar and logistics roles. Notable nearby employers include Lowe s, Sysco, Duke Energy, Merck, and Bank of America Corp.
- Lowe's — home improvement HQ (5.6 miles) — HQ
- Sysco — food distribution (15.4 miles)
- Duke Energy — utilities (18.0 miles)
- Merck — pharmaceuticals (19.3 miles)
- Bank of America Corp. — financial services (26.5 miles) — HQ
Constructed in 2009 and sized for larger floor plans, the property offers a modern vintage that can compete well against older suburban stock while leaving selective value-add opportunities in interiors and common areas. Neighborhood occupancy is strong relative to the metro (203 of 709), and within a 3-mile radius the renter pool is supported by population and household growth, which can underpin leasing stability. According to CRE market data from WDSuite, ownership costs in the area are elevated versus many secondary markets, a backdrop that typically sustains multifamily demand and supports steady retention.
The location is amenity-light but near diverse employment nodes, including a nearby Fortune 50 headquarters. This configuration favors residents prioritizing space and commute access over walkability, and can translate into durable demand and measured pricing power when paired with disciplined operations.
- 2009 vintage supports competitive positioning with room for targeted value-add
- Above-metro-median neighborhood occupancy points to leasing stability
- 3-mile population and household growth expand the tenant base
- Elevated home values in the area reinforce reliance on rental housing
- Risk: amenity-light setting and mixed metro crime rankings warrant continued asset-level security and marketing focused on space and access