Downtown Matthews Warehouse
For Sale
$1,400,000
528 Charles St, Matthews, NC 28105
8,000+ sqft warehouse in prime downtown location.
Property Size8,023 SF
Price / SF$174.50
Days on Market213
Property Features for 528 Charles St
General Information
Standard status
Active
Size
8,023 SF
Site & Location
Neighborhood
Southminister Woods
Building Details
Year Built
1965
Listing Agency:
COMPASS
Listed By:
Christina Chubachuk · License #298890
(704) 989-7411
Source:
Highperformancerea
Added: Mar 26
Changed: Oct 4
Last Checked: Oct 7 at 3:20PM
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
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Investment Insights
Based on property information with market context.
Located in Downtown Matthews, this property features an 8,023 square feet warehouse with over 17ft ceilings. Currently used for automotive and other commercial purposes, the property has upgraded LED lighting throughout. It also features ample parking, updated 2 Phase electrical, tankless water heaters, and central AC in each office. The property offers easy access to 485, restaurants, retail, and office spaces. The location is zoned R-9 with many acceptable uses, and the current automotive use may be grandfathered in with similar use, subject to the Town of Matthews approval. The property includes two parcels, 21504116 and 21504115, with CRC and R-9 zoning, respectively. The listing agent currently has 4 leases from $800-$2500, and rent can be increased. Tenants can stay or leave. The seller requires 30-60 days to move out. The neighbor at 534 E Charles Street, with .26 acres, is willing to sell, and the seller currently uses that space for parking.
Key Highlights
- Prime location in Downtown Matthews with easy access to I‑485, restaurants, retail, and offices.
- Large 8,000+ sq ft warehouse space with 17ft ceilings suitable for automotive or other commercial uses.
- Zoned R‑9 with grandfathering option for similar uses (automotive) allowed by the Town of Matthews.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$92,943
Cap Rate
6.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,858,860
$1.9M
Cap Rate 7%
$1,327,757
$1.3M
Cap Rate 9%
$1,032,700
$1.0M
Market Conditions
NOI Build-Up for 8,023 SF
Gross rent
$152.1K $18.96/SF
− Vacancy
−$9.1K −$1.14/SF
EGI
$143.0K $17.82/SF
− OpEx
−$50.0K −$6.24/SF
NOI
$92.9K $11.58/SF
Area
Mecklenburg County, NC
Vacancy
6.00%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,858,860
Cap Rate 7%
$1,327,757
Cap Rate 9%
$1,032,700
Alternative Uses
Best Use
Flex RnD
$1.33M
$1.16M – $1.55M
NOI $92,943 @ 7.0% cap · market cap 6.64%
Second Best
Industrial
$642.6K
$562.3K – $749.8K
NOI $44,985 @ 7.0% cap · market cap 3.21%
Theoretical Best
Office A
$2.59M
$2.27M – $3.02M
NOI $181,472 @ 7.0% cap · market cap 12.96%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,547
Businesses Nearby
Balanced
Demand for This Use
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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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Market
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
- TreeTop Catering & Events — 1031 Matthews-Mint Hill Rd, Matthews, NC 28105
- Chef's Catering — 1730 Matthews Township Pkwy, Matthews, NC 28105
Frequently Asked Questions
What type of property is this?
Flex space - 8,000+ sqft warehouse in prime downtown location.
Where is this flex space located?
The property is located at 528 Charles St 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.; Large 8,000+ sq ft warehouse space with **17ft ceilings** suitable for automotive or other commercial uses.; Zoned R‑9 with grandfathering option for similar uses (automotive) allowed by the Town of Matthews.
