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Property profile & analytics
OFF-MARKET
Estimated value
$6,785,000
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
$6.79M
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
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
$6.79M
Range $6.11M – $7.46M · ±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
$448 / 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, NC
Zoning 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
Matthews. Always verify with local authorities before improvements.
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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