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Property profile & analytics
OFF-MARKET
Estimated value
$635,000
Office buildings
2509 Plantation Ctr Dr, Matthews, NC 28105-5298
Individually Owned
9-yr Hold
Free & Clear
Property ID
US53-0452736
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1999
Total area
2,400 SF
Lot
0.5 ac (21,789 SF)
Zoning code
O-1(CD)
APN
22756150
UPID
US53-0452736
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
-
Carolina Underwriters Insurance Agency Insurance Agency
-
Shaw Betty Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$690k
Comparable Approach
Comparable
$569k
Blend (final)
Blend
$635k
Owner & transaction history
2509 Plantation Center Drive L · 9 yrs held
2509 Plantation Center Drive L
since 2016
7 recorded transactions
Zoning & alternative use
O-1(CD) · Matthews, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$870,000
+15.4%
Retail stores
$760,000
+1.3%
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%
$750,000
6.5%
$690,000
7%
$640,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$750,000
Current use
MEDICAL BUILDING
$870,000
Change: +15% · Conversion: Easy
RETAIL STORES
$760,000
Change: +1% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$695,000
Change: -8% · Conversion: Difficult
AUTO REPAIR, GARAGE
$660,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$635k
Range $572k – $699k · ±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
$265 / 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
$4,735
Tax year 2023
Assessed value
$645,500
Assessed 2024
Previous assessed
$651,300
-0.9% YoY
Effective rate
0.73%
On assessed value
Assessed land
$407,700
Assessed improvement
$237,800
Land market value
$407,700
Improvement market value
$237,800
Total market value
$645,500
Applied tax rate
8.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1999
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Total area
2,400 SF
Lot
0.5 ac (21,789 SF)
Zoning code
O-1(CD)
APN
22756150
UPID
US53-0452736
Jurisdiction
MECKLENBURG
Zoning & alternative use
O-1(CD) · Matthews, NC
Zoning O-1(CD) · permitted uses
O-1(CD) · 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
OFFICE BUILDING Current
Est. value
$750,000
MEDICAL BUILDING
Est. value
$870,000
RETAIL STORES
Est. value
$760,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$695,000
AUTO REPAIR, GARAGE
Est. value
$660,000
OFFICE BUILDING Current
MEDICAL BUILDING
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
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
1999
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
0.5 ac
Current owner
From public records · entity-resolved
2509 Plantation Center Drive L
Individual
Free & Clear · 9 yrs held
Mailing address
PO BOX 2750, MATTHEWS, NC 28106-2750
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 23, 2019
—
2509 Plantation Ctr Drive LLC
—
Deed
related
$100,000 · Insurbanc
May 19, 2017
—
2509 Plantation Center Drive L
—
Deed
related
$355,000 · Insurbanc
Aug 8, 2016
—
2509 Plantation Center Drive L
Shaw,jack A & B Ann
Warranty Deed
—
Feb 3, 2009
—
Jack A Shaw
Shaw,jack A & Ann B
Quit Claim Deed
related
—
Apr 20, 1999
—
Patch B L
Shaw,jack A
Grant Deed
related
—
—
—
Carolina Underwriters Ins Agcy
—
Loan Modification
related
$200,000 · Insurbanc
—
—
2509 Plantation Ctr Drive LLC
—
Deed Of Trust
related
$100,000 · Insurbanc
—
—
Jack A Shaw
—
Deed Of Trust
related
$360,000 · Insurbanc
—
—
2509 Plantation Center Drive L
—
Deed Of Trust
related
$355,000 · Insurbanc
—
—
Carolina Underwriters Ins Agcy
—
Deed Of Trust
related
$200,000 · Insurbanc
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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