Retail Investment Opportunity in
For Sale
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1016 Devore Lane, Matthews, NC 28105
Retail property with long-term tenant in prime Matthews location.
Property Size40,000 SF
Price / SF$124
Days on Market161
Property Features for 1016 Devore Lane
General Information
Standard status
Active
Size
40,000 SF
Property subtype
Retail
Lease Type
Absolute Net
Net Operating Income
$292,875
Building Details
Year Built
2016
Buildings
1
Tenancy
Single
Listing Agency:
NAI Beverly-Hanks
(828) 210-3940
Listed By:
Terry Peterson · License #NC 177585
Source:
Crexi
Added: Mar 3
Changed: Aug 8
Last Checked: Aug 10 at 11:07AM
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 Beverly-Hanks
Investment Insights
Based on property information with market context.
This commercial property presents an investment opportunity in the retail hub of Matthews. The property is currently leased to Pike's Nursery, a national chain with a 135-year-old parent organization. The absolute net lease has 11 years remaining on the first term, with multiple additional option periods. Constructed in 2016, the property offers a modern structure. The property is located within a few minutes of many retailers and 4,000 apartment units. The property size is 40000 square feet. In March 2027, the rent is scheduled to increase by 10%, resulting in a capitalization rate of 6.5%.
Key Highlights
- Stable, long‑term investment with a national tenant (Pike's Nursery)
- Absolute net lease with 11 years remaining on the initial term
- Rent increase in March 2027, boosting capitalization rate to 6.5%
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
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Similar Off Market Nearby
- Backyard Birds — 1819 Matthews Township Pkwy # 800, Matthews, NC 28105
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- 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 tenant in prime Matthews location.
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: Stable, long‑term investment with a national tenant (Pike's Nursery); Absolute net lease with 11 years remaining on the initial term; Rent increase in March 2027, boosting capitalization rate to 6.5%
