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Property profile & analytics
OFF-MARKET
Estimated value
$2,400,000
Medical Office Space
1700 Matthews Township Pkwy, Matthews, NC 28105-4658
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US53-1168971
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1995
Total area
9,008 SF
Lot
1.25 ac (54,363 SF)
Zoning code
I-1
APN
19329144
UPID
US53-1168971
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
-
Novant Health Cancer Institute - Matthews Physician
-
Matthews Hematology Oncology Physician
-
Dr. Keithe Shensky, MD Physician
-
Kathryn Brownlee, MD Physician
-
Lance King Lassiter, MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.40M
CAP Approach
CAP
$1.93M
Comparable Approach
Comparable
$3.19M
Blend (final)
Blend
$2.40M
Owner & transaction history
Matthews 1700 Mp Rk6 LP · 2 yrs held
Matthews 1700 Mp Rk6 LP
since 2024
Last sale
$2.4M
5 recorded transactions
Zoning & alternative use
I-1 · Matthews, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$2,400,000
ML approach
$2,400,000
CAP Approach
CAP Return
Estimation
6%
$2,090,000
6.5%
$1,930,000
7%
$1,790,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$3,255,000
Current use
RETAIL STORES
$2,860,000
Change: -12% · Conversion: Difficult
OFFICE BUILDING
$2,820,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$2.40M
Range $2.16M – $2.64M · ±10% · vs last sale $2.40M (May 31 2024)
Last sale anchor
$2.40M
May 31 2024
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
$266 / 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
$19,010
Tax year 2023
Assessed value
$2,570,300
Assessed 2024
Previous assessed
$2,599,800
-1.1% YoY
Effective rate
0.74%
On assessed value
Assessed land
$1,426,000
Assessed improvement
$1,144,300
Land market value
$1,426,000
Improvement market value
$1,144,300
Total market value
$2,570,300
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1995
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Rooms
1
Total area
9,008 SF
Lot
1.25 ac (54,363 SF)
Zoning code
I-1
APN
19329144
UPID
US53-1168971
Jurisdiction
MECKLENBURG
Zoning & alternative use
I-1 · Matthews, NC
Zoning I-1 · permitted uses
I-1 · 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
MEDICAL BUILDING Current
Est. value
$3.3M
RETAIL STORES
Est. value
$2.9M
OFFICE BUILDING
Est. value
$2.8M
MEDICAL BUILDING Current
RETAIL STORES
OFFICE BUILDING
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
1995
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
1
Lot
1.25 ac
Current owner
From public records · entity-resolved
Matthews 1700 Mp Rk6 LP
Entity
Mailing address
1 TOWN CTR RD STE #300, BOCA RATON, FL 33486-1014
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 31, 2024
$2,400,000
Matthews 1700 Mp Rk6 LP
Novant Health INC
Special Warranty Deed
$258,350,000 · Capital One Bank NA
Dec 30, 2014
$1,750,000
Novant Health INC
L & N Holdings LLC
Warranty Deed
—
Oct 16, 2012
$937,500
L & N Holdigs LLC
Tmv Partners In Matthews LLC
Warranty Deed
—
—
—
Tmv Partners In Matthews LLC
—
Deed Of Trust
related
$1,149,977 · Rbc Centura Bank
—
—
Tmv Partners In Matthews LLC
—
Deed Of Trust
related
$1,109,835 · First Charter Bank
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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