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Property profile & analytics
OFF-MARKET
Estimated value
$3,845,000
Office buildings
10801 Monroe Rd, Matthews, NC 28105-8335
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US53-0452059
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2002
Total area
20,692 SF
Lot
1.67 ac (72,919 SF)
Zoning code
B-1
APN
19321103
UPID
US53-0452059
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
-
Browder Engineering Structural Engineer
-
Vocation Rehabilitation Services Medical Clinic
-
Everett Allen Physician
-
Jonathan Stoudmire, MD Physician
-
StayAPT Suites Headquarters Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.91M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.08M
Blend (final)
Blend
$3.85M
Owner & transaction history
Matthews Office Building LP · 6 yrs held
Matthews Office Building LP
since 2020
Last sale
$2.4M
5 recorded transactions
Zoning & alternative use
B-1 · Matthews, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$4,095,000
ML approach
$3,910,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$5,970,000
Change: -8% · Conversion: Difficult
AUTO REPAIR, GARAGE
$5,675,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$3.85M
Range $3.46M – $4.23M · ±10% · vs last sale $2.40M (Mar 6 2020)
Last sale anchor
$2.40M
Mar 6 2020
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
$186 / 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
$25,944
Tax year 2023
Assessed value
$3,507,900
Assessed 2024
Previous assessed
$3,746,600
-6.4% YoY
Effective rate
0.74%
On assessed value
Assessed land
$1,924,800
Assessed improvement
$1,583,100
Land market value
$1,924,800
Improvement market value
$1,583,100
Total market value
$3,507,900
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2002
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Units
1
Rooms
7
Total area
20,692 SF
Lot
1.67 ac (72,919 SF)
Zoning code
B-1
APN
19321103
UPID
US53-0452059
Jurisdiction
MECKLENBURG
Zoning & alternative use
B-1 · Matthews, NC
Zoning B-1 · permitted uses
B-1 · 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
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.0M
AUTO REPAIR, GARAGE
Est. value
$5.7M
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
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
2002
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
1
Rooms
7
Lot
1.67 ac
Current owner
From public records · entity-resolved
Matthews Office Building LP
Entity
Mailing address
PO BOX 3477, MATTHEWS, NC 28106-3477
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 30, 2020
—
Matthews Office Building LP
—
Deed
related
$356,000 · Towne Bk
Mar 6, 2020
$2,400,000
Matthews Office Building LP
J B Harrison Properties LLC
Special Warranty Deed
$1,800,000 · Townebank
Sep 28, 2017
—
J B Harrison Properties LLC
—
Grant Deed
related
$4,100,000 · Capital Bk
Apr 3, 1992
—
Earl P Mcateer
Msc,matthews Ann
Grant Deed
related
—
—
—
Matthews Office Building LP
—
Deed Of Trust
related
$356,000 · Towne 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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