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    11229 Independence Blvd Matthews, NC 28105-4937
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    Property profile & analytics

    11229 Independence Blvd Matthews, NC 28105-4937

    View on Map
    • Strip malls
    • 31,733 SF
    • 2.63 lot acres
    Off-Market
    Property ID
    US53-1004795
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $4,025,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Citgo FULLWOOD EXPRESS / (Bike/Boat/Book/etc) Store
    • Prestige Hair Salon and Barbershop / Hair Salon
    • Webtax - Seasonal Office / Tax Preparation
    • American Back Care Chiropractic Matthews / Alternative Medicine Practice
    • Bitcoin of America ATM / Atm

    Property Details for 11229 Independence Blvd

    Year built
    1985
    Lot size
    2.63 lot acres
    Property size
    31,733 SF
    Zone code
    B-H
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    21510102
    APU
    21510102

    Description

    Fullwood Plaza offers exceptional retail and office space for lease in the thriving Matthews, NC market. This mixed-use property, located at 11229 & 11329 E. Independence Blvd and 1544 Matthews-Mint Hill Rd, presents a unique opportunity for businesses seeking high-visibility locations. Currently, there are four available spaces ranging in size from approximately 1,000 square feet to 2,450 square feet, providing flexibility for various business needs. The property's strategic location within Mecklenburg County ensures convenient access to a substantial customer base and a strong workforce. The multiple tenancy structure fosters a vibrant and diverse community within the shopping center, creating a synergistic environment for all occupants. This is an ideal location for businesses seeking high foot traffic and easy access to major transportation routes. The available spaces are ready for immediate occupancy, allowing businesses to quickly establish their presence and begin operations. Fullwood Plaza offers a compelling investment opportunity for businesses looking to thrive in a dynamic and growing area. Contact us today to schedule a viewing and explore the possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Matthews
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.6964
    Latitude
    35.1186
    CBSA code
    16740
    CBSA name
    CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $31,032
    $985,800
    $3,210,000
    $4,195,800
    -
    $985,800
    $3,210,000
    $4,195,800

    Comparable in this City

    • Value Estimation
      $15,330,000
      138,344 SF

      11416 Independence Blvd

      SHOPPING CENTER, STRIP CENTER • 138,344 SF
      11416 Independence Blvd, Matthews, NC 28105-4946
      View Details
    • Value Estimation
      $1,505,000
      6,890 SF

      1641 Matthews Township Pkwy

      SHOPPING CENTER, STRIP CENTER • 6,890 SF
      1641 Matthews Township Pkwy, Matthews, NC 28105-5927
      View Details
    • Value Estimation
      $1,805,000
      10,320 SF

      10915 Monroe Rd

      SHOPPING CENTER, STRIP CENTER • 10,320 SF
      10915 Monroe Rd, Matthews, NC 28105-7308
      View Details
    • Value Estimation
      $3,700,000
      21,804 SF

      11100 Monroe Rd

      SHOPPING CENTER, STRIP CENTER • 21,804 SF
      11100 Monroe Rd, Matthews, NC 28105-1311
      View Details
    • Value Estimation
      $19,805,000
      96,862 SF

      10052 Independence Blvd

      SHOPPING CENTER, STRIP CENTER • 96,862 SF
      10052 Independence Blvd, Matthews, NC 28105-4620
      View Details
    • Value Estimation
      $2,895,000
      16,956 SF

      131 Matthews Sta St

      SHOPPING CENTER, STRIP CENTER • 16,956 SF
      131 Matthews Sta St, Matthews, NC 28105-6784
      View Details

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      Monroe Road Outparcel For Sale

      Pad-ready site suitable for industrial, storage, or retail development.
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      Office Property For Sale

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      Matthews Specialty Property For Sale

      Specialty property available in Matthews, North Carolina.
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    • $185,000
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      Residential Lot in Matthews, NC

      Desirable residential lot to build your dream home!
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    Similar Nearby for Lease

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      Retail Center Anchored by Harris Teeter

      128,651 SF neighborhood center at a major intersection.
      1811 Matthews Township Pkwy, Matthews, NC 28105
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      Food Lion Anchored Shopping Center

      Shopping center with national retailers and small shops available for rent.
      3555 Matthews-Mint Hl Rd, Matthews, NC 28105
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      1,780 SF

      Retail Space Near Matthews Hospital

      Retail space with dedicated parking and high-traffic location.
      1643-1645 Matthews Township Pkwy, Matthews, NC 28105
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      Retail/Office Space Near Novant Health

      Retail and office spaces available near Novant Health Matthews Hospital.
      1640 Matthews Township Pkwy, Matthews, NC 28105
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      Retail Space on High-Traffic Corridor

      Highly visible retail space in Matthews, NC with strong frontage.
      9727 E Independence Blvd, Matthews, NC 28105
      View Details
    • Contact for pricing

      Retail Space in Matthews, NC

      Located on E Independence Blvd, Matthews, NC 28105.
      10046 E Independence Blvd, Matthews, NC 28105
      View Details
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    Matthews, NC 28105-4937
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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