Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1401 Matthews Township Pkwy Matthews, NC 28105

    • Medical offices
    • 92,310 SF
    • 6.03 lot acres
    For Lease
    View listing
    $31 SF/Yr
    Last Sale
    Jan 03, 2024
    $27,450,000
    Value Estimations
    $27,450,000
    Cap Rate Potential
    4.7%
    Medical offices
    Location Intelligence
    Property ID
    US53-1550717
    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.

    Current Use by Public Records

    • Presbyterian Pediatric Neurolog / Pediatrician
    • Dr. Randy A. Hock, MD / Pediatrician / Medical Clinic
    • CLOSED | Dr. Robbie D. Buechler, MD, PhD / Physician / Medical Clinic
    • Dr. David P. Malone, MD / Physician
    • John E. Ziewacz, MD, MPH / Physician

    Property Details for 1401 Matthews Township Pkwy

    Year built
    1998
    Lot size
    6.03 lot acres
    Property size
    92,310 SF
    Zone code
    B-3(CD)
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    19329202
    APU
    19329202

    Description

    Adbel Plaza, a three-story medical office building totaling 90,000 square feet, presents a unique opportunity in the thriving Matthews, North Carolina market. Currently, a single, vacant suite of 4,111 square feet is available for lease within this multi-tenant building located at 1401 Matthews Township Parkway, zip code 28105, in Mecklenburg County. The building enjoys a highly desirable location in one of Southeast Charlotte's fastest-growing communities, offering exceptional visibility and accessibility. Its strategic placement directly across from Novant Health Matthews Medical Center ensures a high volume of foot traffic and a strong patient base. Convenient access to major transportation arteries is another key advantage, with easy connections to Highway 51 (Matthews Township Parkway) and Highway 74 (East Independence Boulevard). The property is also approximately two miles from Interstate 485, providing seamless connectivity throughout the Charlotte metropolitan area. This prime location, combined with the available space, makes Adbel Plaza an ideal choice for medical practices seeking expansion or relocation in a vibrant and rapidly developing area. The building's size and single suite vacancy offer a unique opportunity for a practice seeking a significant footprint in a high-demand location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $27,450,000
      ML approach
      $27,450,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $21,430,000
      6.5%
      $19,780,000
      7%
      $18,365,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $32,067,000
      Market price range: $21.6M - $46.7M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $33,370,000
      Current use
      RETAIL STORES
      $29,300,000
      Change: -12% Conversion: Difficult
      OFFICE BUILDING
      $28,915,000
      Change: -13% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Matthews
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.7151
    Latitude
    35.1228
    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
    $191,241
    $5,177,200
    $20,680,100
    $25,857,300
    -
    $5,177,200
    $20,680,100
    $25,857,300

    Comparable in this City

    • Value Estimation
      $845,000
      4,112 SF

      10808 Monroe Rd

      MEDICAL BUILDING • 4,112 SF
      10808 Monroe Rd, Matthews, NC 28105-7305
      View Details
    • Value Estimation
      $1,785,000
      8,822 SF

      1400 Matthews Township Pkwy

      MEDICAL BUILDING • 8,822 SF
      1400 Matthews Township Pkwy, Matthews, NC 28105-4655
      View Details
    • Value Estimation
      $805,000
      2,562 SF

      9607 Nene Pkwy

      MEDICAL BUILDING • 2,562 SF
      9607 Nene Pkwy, Matthews, NC 28105-6883
      View Details
    • Value Estimation
      $2,520,000
      18,963 SF

      101 Matthews St

      MEDICAL BUILDING • 18,963 SF
      101 Matthews St, Matthews, NC 28105-4866
      View Details
    • Value Estimation
      $550,000
      3,040 SF

      2505 Plantation Ctr Dr

      MEDICAL BUILDING • 3,040 SF
      2505 Plantation Ctr Dr, Matthews, NC 28105-5298
      View Details
    • Value Estimation
      $525,000
      3,500 SF

      3041 Senna Dr

      MEDICAL BUILDING • 3,500 SF
      3041 Senna Dr, Matthews, NC 28105-6727
      View Details

    Similar Nearby for Sale

    • $380,000
      915 SF

      Office Space in Matthews

      Office property for sale in Matthews, North Carolina.
      212 W Matthews St, Matthews, NC 28105
      View Details
    • $4,995,000
      1.61 Acres

      Matthews Commercial Property Investment

      High-Visibility Matthews Location, Endless Potential
      200 Matthews St, Matthews, NC 28105
      View Details
    • $388,000
      1,579 SF

      Charming Home with Cozy Fireplace

      Charming home featuring a fireplace and natural color palette.
      2905 Polo View Ln, Matthews, NC 28105
      View Details
    • $677,250

      Matthews Specialty Property For Sale

      Specialty property available in Matthews, North Carolina.
      1912 E John St, Matthews, NC 28105
      View Details
    • $4,995,000
      1.61 Acres

      Matthews Commercial Land - $4.995M

      1.61 Acres, High-Visibility Location
      200 Matthews St, Matthews, NC 28105
      View Details
    • $1,980,000
      4.19 Acres

      Matthews, NC Commercial Land

      4.19 Acres, High-Traffic Location
      1905 Independence Commerce Dr, Matthews, NC 28105
      View Details

    Similar Nearby for Lease

    • $31 SF/Yr
      90,000 SF

      Adbel Plaza Medical Office Space

      Matthews, NC medical office suite available.
      1401 Matthews Township Pkwy, Matthews, NC 28105
      View Details
    • Contact for pricing
      4,700 SF

      Downtown Matthews Medical Office Space

      Prime Matthews location, 4,700 sq ft available.
      110 John St, Matthews, NC 28105
      View Details
    • Contact for pricing
      27,000 SF

      Matthews Station Office Space

      Prime Matthews location, multiple suites available.
      110 Matthews Station St, Matthews, NC 28105
      View Details
    • Contact for pricing
      9,600 SF

      Matthews Retail & Office Space

      Prime Matthews location, flexible suites.
      1640 Matthews Township Pkwy, Matthews, NC 28105
      View Details
    • $6,000 /Mo

      Office/Retail Space For Rent

      Main level office/retail space with easy highway access.
      2925 Senna Dr, Matthews, NC 28105
      View Details
    • Contact for pricing
      3,491 SF

      The Commons Executive Suites

      Charlotte Office Space for Lease
      10020 Monroe Rd, Charlotte, NC 28105
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1401 Matthews Township Pkwy
    Matthews, NC 28105
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.