Office-Retail and Flex
11240 East Independence Boulevard, Matthews, NC 28105
Two strategically positioned buildings with renovated office/retail and flex-warehouse income in Matthews’ Independence Boulevard corridor.
Type:Retail, Office, Industrial
Property size:
14,369 SFPrice / SF:
$250/SF- Added:
- Jun 19, 2026
- Days on Market:
- 8
- Last Refresh:
- Jun 24 at 2:53 am
Property Features for 11240 East Independence Boulevard
General Information
- Standard status
- Active
- Size
- 14,369 SF
- Property subtype
- Retail, Office, Industrial
Building Details
- Year Built
- 1982
Listing office Binaco Real Estate
Listing date Jun 19, 2026
Source Crexi
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 Binaco Real Estate
HighLights
- Two‑building commercial portfolio offered together at $3,600,000 at 11240 and 11242 E Independence Boulevard in Matthews, NC.
- One building: ±7,940 SF renovated office/retail; currently owner occupied and positioned for immediate lease‑up or owner sale/leaseback.
- Second building: ±6,429 SF flex/warehouse with a long‑term tenant under a guaranteed lease.
- Guaranteed lease includes 4% annual escalations for dependable in‑place income.
- B‑H (ENT‑O) zoning supports a broad range of office, retail, service, and entertainment uses.
- Independence Boulevard traffic: 6 6,700 vehicles per day for high exposure along the corridor.
Overview
This offering pairs two commercial assets: a ±7,940 SF renovated office/retail building that is currently owner-occupied, and a ±6,429 SF flex/warehouse facility occupied by a long-term tenant under a guaranteed lease. The flex/warehouse lease includes 4% annual escalations, providing income tied to contract terms. The portfolio is presented for acquisition together, with the office/retail building positioned for immediate lease-up and an owner-user or owner-sale/leaseback scenario, depending on the buyer’s approach.
Both properties are located at 11240 and 11242 E Independence Boulevard in Matthews, North Carolina, on one of the area’s most heavily used commercial corridors. The offering cites approximately 66,700 vehicles per day along Independence Boulevard, supporting strong visibility and convenient access. Zoning is listed as B-H (ENT-O), which allows for a broad range of office, retail, service, and entertainment uses.
For tenants, the portfolio format can accommodate users seeking either a renovated office/retail layout or a flex/warehouse configuration under established leasing terms. For buyers, the structure supports multiple paths: acquiring the portfolio for contracted income while evaluating lease-up opportunities for the currently owner-occupied office/retail building. The ±7,940 SF building is also described as available for lease, providing flexibility for prospective occupiers.
Both properties are located at 11240 and 11242 E Independence Boulevard in Matthews, North Carolina, on one of the area’s most heavily used commercial corridors. The offering cites approximately 66,700 vehicles per day along Independence Boulevard, supporting strong visibility and convenient access. Zoning is listed as B-H (ENT-O), which allows for a broad range of office, retail, service, and entertainment uses.
For tenants, the portfolio format can accommodate users seeking either a renovated office/retail layout or a flex/warehouse configuration under established leasing terms. For buyers, the structure supports multiple paths: acquiring the portfolio for contracted income while evaluating lease-up opportunities for the currently owner-occupied office/retail building. The ±7,940 SF building is also described as available for lease, providing flexibility for prospective occupiers.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $374.2k | $26.04 |
| − Vacancy | −$38.2k | −$2.66 |
| EGI | $336.0k | $23.38 |
| − OpEx | −$84.0k | −$5.85 |
| NOI | $252.0k | $17.54 |
14,369 SF · lease $26.04/SF/yr · vacancy 10.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$3.60M
$3.15M – $4.20M
NOI $252,003 @ 7.0% cap · market cap 7.00%
Second Best
Retail
$2.51M
$2.20M – $2.93M
NOI $175,980 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$4.64M
$4.06M – $5.42M
NOI $325,012 @ 7.0% cap · market cap 9.03%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Flex space
Similar Places Nearby
- TreeTop Catering & Events — 1031 Matthews-Mint Hill Rd, Matthews, NC 28105
- Chef's Catering — 1730 Matthews Township Pkwy, Matthews, NC 28105
Location Insight
- Map
- Local Demand
- City
- Matthews
- County
- Mecklenburg
- State
- North Carolina
- Longitude
- -80.6978565
- Latitude
- 35.1178578
Nearby Similar for Sale
FAQs
What type of property is this?
Flex space - Two strategically positioned buildings with renovated office/retail and flex-warehouse income in Matthews’ Independence Boulevard corridor.
Where is this flex space located?
The property is located at 11240 East Independence Boulevard Matthews, NC.
What is the asking price?
The asking price for this property is $3,600,000.
What are key features of this property?
This property features: Two‑building commercial portfolio offered together at $3,600,000 at 11240 and 11242 E Independence Boulevard in Matthews, NC.; One building: ±7,940 SF renovated office/retail; currently owner occupied and positioned for immediate lease‑up or owner sale/leaseback.; Second building: ±6,429 SF flex/warehouse with a long‑term tenant under a guaranteed lease.
