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Property profile & analytics
OFF-MARKET
Estimated value
$2,895,000
Strip malls
131 Matthews Sta St Matthews, NC 28105-6784
Entity Owned
19-yr Hold
~
Est. High Equity
Property ID
US53-0196102
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2003
Total area
16,956 SF
Lot
0.33 ac (14,453 SF)
Zoning code
R-20
APN
21501230
UPID
US53-0196102
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
-
Engineered Air Big Box & Wholesale Store Building Supply
-
Mandy Bird Counselor
-
Thai Taste Matthews Restaurant
-
Drawbridge1 Business Service Center
-
Redipay Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.84M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.90M
Owner & transaction history
Matthews Town Square LLC · 19 yrs held
Matthews Town Square LLC
since 2007
3 recorded transactions
Zoning & alternative use
R-20 · Matthews, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
155.502.1. Single-Family Residential District (R-20) A. The R-20 Single-Family Residential District is established to provide an environment exclusively for single- family housing at a very low density of population and structures. Specified nonresidential uses of public or
Zone name
Single Family Residential
General category
RESIDENTIAL
Zone area
952.44 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%
$4,160,000
6.5%
$3,840,000
7%
$3,565,000
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$4,650,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$2.90M
Range $2.61M – $3.18M · ±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
$171 / 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
$27,601
Tax year 2023
Assessed value
$3,731,900
Assessed 2024
Previous assessed
$3,958,000
-5.7% YoY
Effective rate
0.74%
On assessed value
Assessed land
$260,300
Assessed improvement
$3,471,600
Land market value
$260,300
Improvement market value
$3,471,600
Total market value
$3,731,900
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
2003
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Total area
16,956 SF
Lot
0.33 ac (14,453 SF)
Zoning code
R-20
APN
21501230
UPID
US53-0196102
Jurisdiction
MECKLENBURG
Zoning & alternative use
R-20 · Matthews, NCZoning R-20 · permitted uses
R-20 · Matthews, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
155.502.1. Single-Family Residential District (R-20) A. The R-20 Single-Family Residential District is established to provide an environment exclusively for single- family housing at a very low density of population and structures. Specified nonresidential uses of public or
Zone name
Single Family Residential
General category
RESIDENTIAL
Zone area
952.44 ac
Source
Chapter 5
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$4.7M
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
2003
Heating
FORCED AIR
Cooling
Yes
Stories
2
Lot
0.33 ac
Current owner
From public records · entity-resolved
Matthews Town Square LLC
Entity
Mailing address
4530 PARK RD STE #300, CHARLOTTE, NC 28209-3790
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 1, 2017
—
Matthews Depot LLC
—
Grant Deed
related
$66,000,000 · Miscellaneous Ins Co
Jun 1, 2007
—
Matthews Town Square LLC
P & G Dev
Grant Deed
$6,800,000 · 40/86 Mortgage Capital INC
Feb 2, 2004
$2,183,000
P & G Dev Co
Matthews Town Square LLC
Warranty 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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