Downtown Matthews Warehouse
528 E Charles St Matthews, NC 28105
528 E Charles St, Matthews, NC, 28105
Contact for pricing
For Sale
Contact for pricing
8,000+ sqft warehouse in prime downtown location.
Property Size8,023 SF
Price / SF$174.50
Days on Market831
Property Features for 528 E Charles St
General Information
- Standard status
- Active
- Size
- 8,023 SF
- Property subtype
- Industrial, Office
Building Details
- Year Built
- 1965
Listing Agency
AKIN REALTY LLC
(704) 989-7411
Listed by
Christina Chubachuk · License #298890
Source
Crexi
Added: Apr 10, 2024 Checked: Jul 17 at 5:59 am
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 AKIN REALTY LLC
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.
Local 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 | $144.4k | $18.00 |
| − Vacancy | −$4.0k | −$0.50 |
| EGI | $140.4k | $17.50 |
| − OpEx | −$42.1k | −$5.25 |
| NOI | $98.3k | $12.25 |
8,023 SF · lease $18.00/SF/yr · vacancy 2.80% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.40M
$1.23M – $1.64M
NOI $98,259 @ 7.0% cap · market cap 7.02%
Second Best
Flex RnD
$1.33M
$1.16M – $1.55M
NOI $92,943 @ 7.0% cap · market cap 6.64%
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 local authorities.
Property Analytics
Property Profile
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
Similar For Sale Nearby
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
FAQs
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 E 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.
