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Property profile & analytics
OFF-MARKET
Estimated value
$6,825,000
Drug stores
1220 Matthews Township Pkwy Matthews, NC 28105-0218
Entity Owned
4-yr Hold
Free & Clear
Property ID
US53-5521003
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2006
Total area
15,138 SF
Lot
1.9 ac (82,764 SF)
Zoning code
B-1(CD)
APN
19327120
UPID
US53-5521003
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
-
Walgreens Photo (Bike/Boat/Book/etc) Store
-
Western Union Bank Credit Union
-
Tonya Chrichlow, PharmD Pharmacy
-
Lewis Marks, RPh Pharmacy
-
Anna Nguyen Moyer, PharmD Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.72M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$8.29M
Blend (final)
Blend
$6.83M
Owner & transaction history
Ds Matthews Nc Landlord LLC · 4 yrs held
Ds Matthews Nc Landlord LLC
since 2022
Last sale
$6.8M
4 recorded transactions
Zoning & alternative use
B-1(CD) · Matthews, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Neighborhood Business District is established to create and protect business centers for the retailing of merchandise such as groceries, prescription medicine, and household items and for the provision of professional services for the convenience of dwellers of nearby residential areas. Standards are so designed that uses within this district may be soun…
Zone name
Neighborhood Business Conditional
General category
COMMERCIAL
Zone area
117.65 ac
Source
Realmo
Top alternative use upside
Commercial (general)
$9.8M
+103.8%
Restaurant
$9.0M
+86.9%
Medical building
$5.5M
+13.9%
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
$6,825,000
ML approach
$6,715,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$4,805,000
Current use
COMMERCIAL (GENERAL)
$9,790,000
Change: +104% · Conversion: Easy
RESTAURANT
$8,980,000
Change: +87% · Conversion: Easy
MEDICAL BUILDING
$5,470,000
Change: +14% · Conversion: Difficult
OFFICE BUILDING
$4,740,000
Change: -1% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$4,370,000
Change: -9% · Conversion: Moderate
AUTO REPAIR, GARAGE
$4,150,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$6.83M
Range $6.14M – $7.51M · ±10% · vs last sale $6.80M (May 12 2022)
Last sale anchor
$6.80M
May 12 2022
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
$451 / 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
$39,990
Tax year 2023
Assessed value
$5,407,000
Assessed 2024
Previous assessed
$6,217,100
-13.0% YoY
Effective rate
0.74%
On assessed value
Assessed land
$2,608,800
Assessed improvement
$2,798,200
Land market value
$2,608,800
Improvement market value
$2,798,200
Total market value
$5,407,000
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
2006
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
15,138 SF
Lot
1.9 ac (82,764 SF)
Zoning code
B-1(CD)
APN
19327120
UPID
US53-5521003
Jurisdiction
MECKLENBURG
Zoning & alternative use
B-1(CD) · Matthews, NCZoning B-1(CD) · permitted uses
B-1(CD) · Matthews, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Neighborhood Business District is established to create and protect business centers for the retailing of merchandise such as groceries, prescription medicine, and household items and for the provision of professional services for the convenience of dwellers of nearby residential areas. Standards are so designed that uses within this district may be soundly and permanently developed and maintained in such a way as not to be harmful to adjacent residential properties.
Zone name
Neighborhood Business Conditional
General category
COMMERCIAL
Zone area
117.65 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$4.8M
COMMERCIAL (GENERAL)
Est. value
$9.8M
RESTAURANT
Est. value
$9.0M
MEDICAL BUILDING
Est. value
$5.5M
OFFICE BUILDING
Est. value
$4.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.4M
AUTO REPAIR, GARAGE
Est. value
$4.2M
RETAIL STORES Current
COMMERCIAL (GENERAL)
RESTAURANT
MEDICAL BUILDING
OFFICE BUILDING
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
2006
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.9 ac
Current owner
From public records · entity-resolved
Ds Matthews Nc Landlord LLC
Entity
Free & Clear · 4 yrs held
Mailing address
3333 PEACHTREE RD NE, ATLANTA, GA 30326-1070
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 12, 2022
$6,804,000
Ds Matthews Nc Landlord LLC
Waltrust Properties INC
Special Warranty Deed
—
May 12, 2022
—
Walgreen Co
Ds Matthews Nc Landlord LLC
Lease
—
Dec 19, 2007
—
Waltrust Properties INC
Walgreen
Grant Deed
—
Dec 19, 2007
$4,174,000
Walgreen Co
Kahn Properties South LLC
Grant Deed
—
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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