Retail Investment Opportunity in
For Sale
$4,960,000
1016 Devore Lane, Matthews, NC 28105
Retail property with long-term lease and established national tenant.
Property SizeContact for details
Days on Market160
Property Features for 1016 Devore Lane
General Information
Standard status
Active
Property subtype
Commercial
Amenities
Concrete Flooring
Level
Building Details
Year Built
2016
Listing Agency:
NAI ALLEN TATE BEVERLY-HANKS COMMERCIAL
(828) 210-3940
Listed By:
TERRY PETERSON · License #177585
Source:
Corcoran
Added: Mar 3
Changed: Aug 8
Last Checked: Aug 8 at 6:11AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI ALLEN TATE BEVERLY-HANKS COMMERCIAL
Investment Insights
Based on property information with market context.
This commercial property presents an investment opportunity in the retail area of Matthews. The property is currently leased to Pike's Nursery, a national chain with a history spanning 135 years. Constructed in 2016, the property is subject to an absolute net lease with 11 years remaining on the initial term, and includes options for multiple additional periods. The lease includes a rent increase of 10% in March 2027, which will result in a capitalization rate of 6.5%. The property is positioned within close proximity to numerous retailers and 4,000 apartment units.
Key Highlights
- Established national tenant (Pike's Nursery) provides reliable income stream.
- Absolute net lease minimizes landlord responsibilities.
- Long‑term lease with 11 years remaining on the initial term.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
627
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28105, NC
44,085
Population
17,906
Households
2.5
Avg Household Size
41
Median Age
52%
College-Educated
95%
High-School Grad
23.2 sq mi
ZIP Area
1,900
Density / Sq Mi
$104,242
Median Household Income
$52,175
Median Earnings
$1,663
Median Rent
$389,100
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Backyard Birds — 1819 Matthews Township Pkwy # 800, Matthews, NC 28105
- Lowe's Garden Center — 2115 Matthews Township Pkwy, Matthews, NC 28105
- Garden Center at The Home Depot — 1837 Matthews Township Pkwy, Matthews, NC 28105
- Crown Pest Control — 10737 Independence Pointe Pkwy #102, Matthews, NC 28105
- Pest Control Services of Matthews
Frequently Asked Questions
What type of property is this?
Nursery and garden center - Retail property with long-term lease and established national tenant.
Where is this nursery and garden center located?
The property is located at 1016 Devore Lane Matthews, NC.
What is the asking price?
The asking price for this property is $4,960,000.
What are key features of this property?
This property features: Established national tenant (Pike's Nursery) provides reliable income stream.; Absolute net lease minimizes landlord responsibilities.; Long‑term lease with 11 years remaining on the initial term.
