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    Downtown Matthews Warehouse Opportunity Title is generated by Realmo AI

    528 Charles Street, Matthews, NC 28105

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    For Sale
    $1,400,000

    8,000+ sqft warehouse in prime downtown location.

    Type:Commercial/Industrial
    Property size:
    8,000 SF
    Price / SF:
    $175/SF
    Added:
    Mar 11, 2026
    Days on Market:
    69
    Last Refresh:
    Apr 6 at 2:47 am

    Property Features for 528 Charles Street

    General Information

    Standard status
    Active
    Size
    8,000 SF
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1965

    We can help!

    Listing Contact
    Christina Chubachuk
    Christina Chubachuk

    Listing agent Christina Chubachuk License #298890

    Listing office COMPASS

    Listing date Mar 11, 2026

    Source Exitrealty

    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

    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.
    • Updated 2 Phase electrical throughout.
    • Upgraded LED lighting throughout.
    • Tankless water heaters and Central AC in each office.

    Overview

    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.

    Financial Insights

    Value Estimation Calculated for Retail

    Conservative
    $1.09M
    NOI $97,978 @ 9.00% cap · cautious / downside scenario
    Moderate
    $1.40M
    NOI $97,978 @ 7.00% cap · market / base-case scenario
    Aggressive
    $1.96M
    NOI $97,978 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Retail

    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 Use Scenarios

    Best Use
    Retail
    $1.40M
    $1.22M – $1.63M (±1% cap)
    NOI $97,978 @ 7.0% cap · market cap 7.00%
    Second Best
    Warehouse
    $778.1K
    $680.9K – $907.8K (±1% cap)
    NOI $54,468 @ 7.0% cap · market cap 3.89%
    Theoretical Best
    Office A
    $2.59M
    $2.26M – $3.02M (±1% cap)
    NOI $180,952 @ 7.0% cap · market cap 12.93%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    BB AUTO Auto Repair Shop DELSOL AUTO PARTS Auto Repair Shop 123 Auto Repair Auto Repair Shop Alpina Direct Buy Auto Parts Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places 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

    Location Insight

    • Map
    • Local Demand
    City
    Matthews
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.7155
    Latitude
    35.1127

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      Downtown Matthews Warehouse Opportunity

      8,000+ sqft warehouse in prime downtown location.
      528 E Charles St, Matthews, NC 28105
      View Details

    FAQs

    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.
    (704) 234-7880
    We can help!
    Listing Contact
    Christina Chubachuk
    Christina Chubachuk
    Real Estate License ID: 298890
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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