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Property profile & analytics
OFF-MARKET
Estimated value
$360,000
Office buildings
1122 Industrial Dr Matthews, NC 28105-5419
Individually Owned
23-yr Hold
~
Est. High Equity
Property ID
US53-5652086
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1970
Total area
4,418 SF
Lot
0.87 ac (37,910 SF)
Zoning code
I-1
APN
19321135
UPID
US53-5652086
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
-
American Singles Golf Association Association / Organization
-
Carolinas Dynamic Realty Real Estate Agency
-
C & D Landscapes Inc Landscaping General Contractor
-
EverGlow NA Inc. Industrial Manufacturer Production Facility
-
K & L Freight Management Inc Trucking Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.27M
Comparable Approach
Comparable
$1.36M
Blend (final)
Blend
$360k
Owner & transaction history
Donny A Cardwell
Donny A Cardwell
1 recorded transaction
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
Top alternative use upside
Medical building
$1.6M
+15.4%
Retail stores
$1.4M
+1.3%
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%
$1,375,000
6.5%
$1,270,000
7%
$1,180,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,385,000
Current use
MEDICAL BUILDING
$1,595,000
Change: +15% · Conversion: Easy
RETAIL STORES
$1,400,000
Change: +1% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$1,275,000
Change: -8% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,210,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$360k
Range $324k – $396k · ±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
$81 / 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
$6,949
Tax year 2023
Assessed value
$939,600
Assessed 2024
Previous assessed
$973,800
-3.5% YoY
Effective rate
0.74%
On assessed value
Assessed land
$645,000
Assessed improvement
$294,600
Land market value
$645,000
Improvement market value
$294,600
Total market value
$939,600
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1970
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
1
Rooms
1
Total area
4,418 SF
Lot
0.87 ac (37,910 SF)
Zoning code
I-1
APN
19321135
UPID
US53-5652086
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
OFFICE BUILDING Current
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$1.6M
RETAIL STORES
Est. value
$1.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.2M
OFFICE BUILDING Current
MEDICAL BUILDING
RETAIL STORES
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
1970
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Rooms
1
Lot
0.87 ac
Current owner
From public records · entity-resolved
Donny A Cardwell
Individual
Mailing address
1122 INDUSTRIAL DR, MATTHEWS, NC 28105-5419
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Donny A Cardwell
—
Deed Of Trust
related
$150,000 · Wachovia Bank NA
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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