Downtown Matthews Warehouse
528 Charles Street Matthews, NC 28105
For Sale
$1,400,000
8,000+ sqft warehouse in prime downtown location.
Property Size8,000 SF
Price / SF$175
Days on Market842
Property Features for 528 Charles Street
General Information
Standard status
Active
Size
8,000 SF
Property subtype
Commercial/Industrial
Building Details
Year Built
1965
Listing Agency:
COMPASS
(704) 989-7411
Listed By:
Christina Chubachuk · License #298890
(704) 989-7411
Source:
Exitrealty
Added: Apr 10, 2024
Changed: Jul 6
Last Checked: Jul 29 at 1:42PM
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 COMPASS
Investment Insights
Based on property information with market context.
Located in Downtown Matthews, this property offers over 8,000 square feet of warehouse space with ceilings exceeding 17 feet. The property is currently suitable for automotive or other commercial uses, subject to verification with Matthews Zoning. Upgraded LED lighting is installed throughout the warehouse. The electrical system has been updated with 2-phase power. Tankless water heaters and central air conditioning are present in each office. The property benefits from ample parking and convenient access to I-485, restaurants, retail establishments, and offices. Zoned R-9, the current automotive use may be grandfathered by the Town of Matthews, provided the future use is similar. This property is positioned as a potential long-term investment.
Key Highlights
- Prime location in Downtown Matthews with easy access to I‑485, restaurants, retail, and offices.
- Over 8,000 square feet warehouse with 17ft ceilings.
- Zoned R‑9 with grandfathering clause for similar automotive/commercial uses.
Financial Insights For Retail
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 | $144.0k | $18.00 |
| − Vacancy | −$4.0k | −$0.50 |
| EGI | $140.0k | $17.50 |
| − OpEx | −$42.0k | −$5.25 |
| NOI | $98.0k | $12.25 |
8,000 SF · lease $18.00/SF/yr · vacancy 2.80% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.40M
$1.22M – $1.63M
NOI $97,978 @ 7.0% cap · market cap 7.00%
Second Best
Warehouse
$778.1K
$680.9K – $907.8K
NOI $54,468 @ 7.0% cap · market cap 3.89%
Theoretical Best
Office A
$2.59M
$2.26M – $3.02M
NOI $180,952 @ 7.0% cap · market cap 12.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Williams Business Properties — 624 Matthews-Mint Hill Rd #101, Matthews, NC 28105
- SecurCare Self Storage — 720 Matthews-Mint Hill Rd, Matthews, NC 28105
- Public Storage — 801 Matthews Township Pkwy, Matthews, NC 28105
- Williams Business Properties — 662 Matthews-Mint Hill Rd, Matthews, NC 28105
- The Frollo Self Storage Matthews NC — 117 sadie dr, matthews, nc 28105
Frequently Asked Questions
What type of property is this?
Warehouse - 8,000+ sqft warehouse in prime downtown location.
Where is this warehouse located?
The property is located at 528 Charles Street Matthews, NC.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Prime location in Downtown Matthews with easy access to I‑485, restaurants, retail, and offices.; Over 8,000 square feet warehouse with **17ft ceilings**.; Zoned R‑9 with grandfathering clause for similar automotive/commercial uses.
