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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1641 Matthews Township Pkwy Matthews, NC 28105-5927

    • Strip malls
    • 6,890 SF
    • 0.93 lot acres
    OFF-MARKET
    Last Sale
    Jan 26, 2023
    $1,450,000
    Value Estimations
    $1,505,000
    Show details
    Cap Rate Potential
    6.7%
    Strip malls
    Location Intelligence
    Property ID
    US53-5536962
    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

    • The Hub Community Church / Church
    • The Hub NC / Community Center

    Property Details for 1641 Matthews Township Pkwy

    Year built
    2006
    Lot size
    0.93 lot acres
    Property size
    6,890 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    19329223
    APU
    19329223

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,520,000
      ML approach
      $1,545,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,690,000
      6.5%
      $1,560,000
      7%
      $1,450,000

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,990,000
      Current use
      MEDICAL BUILDING
      $2,490,000
      Change: +25% Conversion: Difficult
      RETAIL STORES
      $2,185,000
      Change: +10% Conversion: Easy
      OFFICE BUILDING
      $2,160,000
      Change: +9% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $1,890,000
      Change: -5% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Matthews
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.7108
    Latitude
    35.1226
    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
    $12,286
    $1,423,900
    $237,300
    $1,661,200
    -
    $1,423,900
    $237,300
    $1,661,200

    Comparable in this City

    • Value Estimation
      $11,410,000
      96,862 SF

      10052 Independence Blvd

      SHOPPING CENTER, STRIP CENTER • 96,862 SF
      10052 Independence Blvd, Matthews, NC 28105-4620
      View Details
    • Value Estimation
      $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
      $1,805,000
      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
      $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
    • Value Estimation
      $5,050,000
      29,325 SF

      855 Sam Newell Rd

      SHOPPING CENTER, STRIP CENTER • 29,325 SF
      855 Sam Newell Rd, Matthews, NC 28105-7593
      View Details

    Similar Nearby for Sale

    • $1,275,000

      Highway 74 Exit Land Parcel

      2.89+/- acre commercial land near Highway 74 exit.
      12027 Guion Ln, 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
    • $3,900,000

      Matthews Land: 10.4 Acres

      Prime Matthews development land, I-485 access.
      1904 John St, Matthews, NC 28105
      View Details
    • $1,600,000
      1.30 Acres

      Downtown Matthews Business Opportunity

      High-Cashflow Warehouse, Prime Location
      528 Charles St, Matthews, NC 28105
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Center Anchored by Harris Teeter

      128,651 SF neighborhood center at a major intersection.
      1811 Matthews Township Pkwy, 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
      113,100 SF

      Matthews Retail Center Investment

      Prime Matthews location, high traffic area.
      10400-10420 Independence Blvd, Matthews, NC 28105
      View Details
    • Contact for pricing

      Restaurant Space in Matthews, NC

      2,806 SF former restaurant with patio space for lease.
      Matthews, NC 28105
      View Details
    • Contact for pricing

      Retail Space in Matthews, NC

      Retail, service, and restaurant spaces available in high-traffic Matthews.
      Matthews, NC 28105
      View Details
    • Contact for pricing
      75,000 SF

      Matthews Retail Space Available

      Prime Matthews storefront, 1,920 sq ft.
      3555 Matthews-Mint Hl Rd, Matthews, NC 28105
      View Details

    Property Visit Statistics

    • Visits by month
      10.1k
    • Visitors by month
      8.9k
    • Avg Time on site
      56 min
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    Matthews, NC 28105-5927
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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.

    More about this property
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