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Property profile & analytics
OFF-MARKET
Estimated value
$3,055,000
Turn key restaurants
10400 Independence Blvd, Matthews, NC 28105-4612
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-5055936
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1996
Total area
6,532 SF
Lot
0.8 ac (34,813 SF)
Zoning code
C
APN
19329211
UPID
US53-5055936
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Texas Roadhouse Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.06M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.49M
Blend (final)
Blend
$3.06M
Owner & transaction history
Fcpt Holdings LLC · 1 yrs held
Fcpt Holdings LLC
since 2024
Last sale
$3.1M
7 recorded transactions
Zoning & alternative use
C · Matthews, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$4.2M
+9.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Matthews submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Matthews submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$3,055,000
ML approach
$3,055,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$3,875,000
Current use
COMMERCIAL (GENERAL)
$4,225,000
Change: +9% · Conversion: Easy
Blend value · Realmo final
$3.06M
Range $2.75M – $3.36M · ±10% · vs last sale $3.06M (Aug 28 2024)
Last sale anchor
$3.06M
Aug 28 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$468 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$17,597
Tax year 2023
Assessed value
$2,379,200
Assessed 2024
Previous assessed
$2,379,200
+0.0% YoY
Effective rate
0.74%
On assessed value
Assessed land
$1,076,600
Assessed improvement
$1,302,600
Land market value
$1,076,600
Improvement market value
$1,302,600
Total market value
$2,379,200
Applied tax rate
19.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1996
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Total area
6,532 SF
Lot
0.8 ac (34,813 SF)
Zoning code
C
APN
19329211
UPID
US53-5055936
Jurisdiction
MECKLENBURG
Zoning & alternative use
C · Matthews, NC
Zoning C · permitted uses
C · Matthews, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Matthews. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$3.9M
COMMERCIAL (GENERAL)
Est. value
$4.2M
RESTAURANT Current
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1996
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
0.8 ac
Current owner
From public records · entity-resolved
Fcpt Holdings LLC
Entity
Mailing address
591 W REDWOOD HWY FRONTAGE RD STE #3215, MILL VALLEY, CA 94941-6006
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 28, 2024
—
Fcpt Holdings LLC
Lcn Blm Las Vegas Multi LLC
Special Warranty Deed
—
Sep 8, 2016
$3,039,000
Lcn Blm Las Vegas Multi LLC
New Private Restaurant Props L
Warranty Deed
$22,629 · Nexbank Ssb
Apr 9, 2012
—
New Private Restaurant Props L
Private Restaurant Props LLC
Quit Claim Deed
—
Jun 28, 2007
$26,500
Cig Real Estate LLC
Carrabbas Italian Grill INC
Grant Deed
—
Sep 17, 1996
$550,000
Italian Grill I Carrabba's
Carrabba's,itali
Grant Deed
related
—
—
—
New Private Restaurant Props L
—
Loan Modification
related
$300,000,000 · Wells Fargo Bk
—
—
New Private Restaurant Props L
—
Deed Of Trust
related
$300,000,000 · Wells Fargo Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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