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Property profile & analytics
OFF-MARKET
Estimated value
$1,805,000
Strip malls
10915 Monroe Rd Matthews, NC 28105-7308
Entity Owned
27-yr Hold
Free & Clear
Property ID
US53-1415080
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1999
Total area
10,320 SF
Lot
1.29 ac (56,149 SF)
Zoning code
I-1
APN
19321132
UPID
US53-1415080
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
-
East 74 Restaurant Restaurant
-
Supermercado Brasileiro Taste Of Brazil Specialty Food Shop Supermarket
-
Li's Noodles Asian Kitchen Restaurant
-
Jilly Jelly Boba and Snow Restaurant Cafe & Coffee Shop
-
Miura Grill Express Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.34M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.81M
Owner & transaction history
Kroustalis Investments LLC · 27 yrs held
Kroustalis Investments LLC
since 1999
7 recorded transactions
Zoning & alternative use
I-1 · Matthews, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
155.502.15. Light Industrial District (I-1) A. The Light Industrial District is established to create and protect industrial areas for the provision of light manufacturing and the distribution of products at wholesale. The standards established for this district are designed to promote sound, permanent light industrial development and also to protect nearby…
Zone name
Light Industrial
General category
INDUSTRIAL
Zone area
259.91 ac
Source
Chapter 5
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,535,000
6.5%
$2,340,000
7%
$2,170,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$2,980,000
Current use
AUTO REPAIR, GARAGE
$2,830,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$1.81M
Range $1.62M – $1.99M · ±10%
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
$175 / 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
$16,830
Tax year 2023
Assessed value
$2,275,600
Assessed 2024
Previous assessed
$2,309,000
-1.4% YoY
Effective rate
0.74%
On assessed value
Assessed land
$1,853,100
Assessed improvement
$422,500
Land market value
$1,853,100
Improvement market value
$422,500
Total market value
$2,275,600
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1999
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
10,320 SF
Lot
1.29 ac (56,149 SF)
Zoning code
I-1
APN
19321132
UPID
US53-1415080
Jurisdiction
MECKLENBURG
Zoning & alternative use
I-1 · Matthews, NCZoning I-1 · permitted uses
I-1 · Matthews, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
155.502.15. Light Industrial District (I-1) A. The Light Industrial District is established to create and protect industrial areas for the provision of light manufacturing and the distribution of products at wholesale. The standards established for this district are designed to promote sound, permanent light industrial development and also to protect nearby residential areas from the undesirable aspects of industrial development. Whenever possible, areas of this zoning category are separated from residential areas by natural or structural boundaries, s uch as drainage channels, sharp breaks in topography, strips of vegetation, traffic arteries, and similar features. The map symbol and short name for the Light Industrial District shall be "I -1 District." [formerly part of regulation known as
Zone name
Light Industrial
General category
INDUSTRIAL
Zone area
259.91 ac
Source
Chapter 5
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$3.0M
AUTO REPAIR, GARAGE
Est. value
$2.8M
NEIGHBORHOOD: SHOPPING CENTER Current
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
1999
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.29 ac
Current owner
From public records · entity-resolved
Kroustalis Investments LLC
Entity
Free & Clear · 27 yrs held
Mailing address
114 SARDIS PLANTATION DR, MATTHEWS, NC 28105-1537
Ownership since
1999
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 2, 2020
—
Kroustalis Investments LLC
—
Deed
related
$365,000 · Towne Bk
Jul 22, 2016
—
Kroustalis Investments LLC
—
Deed
related
$450,000 · Paragon Com'l Bk
Mar 3, 1999
—
Kroustalis Investments LLC
Kroustalis,grego
Quit Claim Deed
related
—
Feb 25, 1999
—
Kroustalis Investments LLC
Kroustalis,grego
Quit Claim Deed
related
—
Jun 13, 1997
—
Gregory Kroustalis
—
Deed Of Trust
related
$89,300 · First Citizens Bank
—
—
Kroustalis Investments LLC
—
Deed Of Trust
related
$473,200 · Paragon Com'l Bk
—
—
Kroustalis Investments LLC
—
Loan Modification
related
$450,000 · Paragon Com'l Bk
—
—
Kroustalis Investments LLC
—
Loan Modification
related
$365,000 · 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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