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

    2304 Matthews Township Pkwy Matthews, NC 28105-2360

    • Retail space
    • 9,945 SF
    • 1.16 lot acres
    OFF-MARKET
    Last Sale
    Nov 15, 2021
    $6,450,000
    Value Estimations
    $6,500,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-5148926
    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

    • Alvaro Zeballos / Physician
    • Hand and Stone Massage and Facial Spa / Spa & Massage Center
    • Five Guys / Restaurant

    Property Details for 2304 Matthews Township Pkwy

    Year built
    2019
    Lot size
    1.16 lot acres
    Property size
    9,945 SF
    Zone code
    B-H(CD)
    Property type
    Retail space
    APN
    19331184
    APU
    19331184

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $7,140,000
      ML approach
      $7,015,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,443,000
      Market price range: $1.67M - $5.44M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $6,435,000
      RESTAURANT
      $5,900,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Matthews
    County
    Mecklenburg
    State
    North Carolina
    Longitude
    -80.7011
    Latitude
    35.1272
    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
    $33,182
    $2,381,100
    $2,105,400
    $4,486,500
    -
    $2,381,100
    $2,105,400
    $4,486,500

    Comparable in this City

    • Value Estimation
      $7,055,000
      52,934 SF

      1819 Matthews Township Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 52,934 SF
      1819 Matthews Township Pkwy, Matthews, NC 28105-5341
      View Details
    • Value Estimation
      $925,000
      6,696 SF

      11300 Independence Blvd

      RETAIL STORES (PERSONAL SERVICES) • 6,696 SF
      11300 Independence Blvd, Matthews, NC 28105-4714
      View Details
    • Value Estimation
      $2,270,000
      22,055 SF

      12527 Independence Blvd

      RETAIL STORES (PERSONAL SERVICES) • 22,055 SF
      12527 Independence Blvd, Matthews, NC 28105-4115
      View Details
    • Value Estimation
      $1,320,000
      11,000 SF

      343 John St

      RETAIL STORES (PERSONAL SERVICES) • 11,000 SF
      343 John St, Matthews, NC 28105-5437
      View Details
    • Value Estimation
      $1,210,000
      7,840 SF

      720 Matthews Township Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 7,840 SF
      720 Matthews Township Pkwy, Matthews, NC 28105-5410
      View Details
    • Value Estimation
      $3,735,000
      35,442 SF

      11014 Monroe Rd

      RETAIL STORES (PERSONAL SERVICES) • 35,442 SF
      11014 Monroe Rd, Matthews, NC 28105-8519
      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
    • $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

    • 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
    • Contact for pricing
      1,780 SF

      Retail Space Near Matthews Hospital

      Retail space with dedicated parking and high-traffic location.
      1643-1645 Matthews Township Pkwy, 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
    • $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
      191,664 SF

      Matthews Corners Retail Space

      Prime Matthews location, 1,693 sq ft available.
      2332 Matthews Township Pkwy, 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

    Property Visit Statistics

    • Visits by month
      2.1k
    • Visitors by month
      2.0k
    • Avg Time on site
      55 min
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    Matthews, NC 28105-2360
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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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