Updated Jul 10, 2025
Ricky Stenhouse Jr. Sells 140-Acre Mooresville Estate For $12.2 Million Setting Record
355 Pelham Ln, Mooresville, Nc 28115
$12,200,000
$1,221/SF
Building Size
9,986 SF
Asset Type
Single Family
Closing
Jun 24, 2025
About this deal
AI
The property asset involved in the transaction is a single-family residence located at 355 Pelham Ln in Mooresville, NC. The estate comprises 140 acres and has a total square footage of 9,986. The property was sold for a price of $12,200,000, which translates to a price per square foot of $1,222.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $12,200,000
- Address: 355 Pelham Ln
- Market: Mooresville, NC
- Acres: 140
- Square Footage: 9,986
- Price per Square Foot: $1,222
- Seller: Ricky Stenhouse Jr
- Broker Representatives: Josh Tucker & Joey Adams - The Corcoran Group
Ricky Stenhouse Jr. is the seller of the property, and the transaction marks a new residential price record in the Charlotte metro area. The deal was represented by brokers Josh Tucker and Joey Adams from The Corcoran Group.
Players
Mooresville Single Family Market Snapshot
Boundary boundary · Single Family · Sale transactions
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Deal FAQ
About $1.2K per square foot on a published $12.2M for 9,986 square feet (2025).
Visit The Corcoran Group to view all their deals.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.30%
Cash-on-Cash
-0.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93