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Property profile & analytics
OFF-MARKET
Drive through restaurants
535 John St Matthews, NC 28105
Individually Owned
29-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-0502491
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
2005
Total area
1,188 SF
Lot
1.23 ac (53,535 SF)
Zoning code
R/I(CD)
APN
21301110
UPID
US53-0502491
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Harry C Grimmer · 29 yrs held
Harry C Grimmer
since 1996
4 recorded transactions
Zoning & alternative use
R/I(CD) · Matthews, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Residential or Institutional District is established to allow complementary development of certain institutional or public uses in predominantly residential areas. Uses in this District are generally considered compatible with residential growth but are of a significant size or scale which requires extra conditions in order to lessen their impact on neig…
Zone name
Residential Institutional Conditional
General category
CIVIC_INSTITUTIONAL
Zone area
713.39 ac
Source
Realmo
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$8,858
Tax year 2023
Assessed value
$1,197,700
Assessed 2024
Previous assessed
$1,197,700
+0.0% YoY
Effective rate
0.74%
On assessed value
Assessed land
$1,054,500
Assessed improvement
$143,200
Land market value
$1,054,500
Improvement market value
$143,200
Total market value
$1,197,700
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
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
Off-Market
Year built
2005
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Total area
1,188 SF
Lot
1.23 ac (53,535 SF)
Zoning code
R/I(CD)
APN
21301110
UPID
US53-0502491
Jurisdiction
MECKLENBURG
Zoning & alternative use
R/I(CD) · Matthews, NCZoning R/I(CD) · permitted uses
R/I(CD) · Matthews, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Residential or Institutional District is established to allow complementary development of certain institutional or public uses in predominantly residential areas. Uses in this District are generally considered compatible with residential growth but are of a significant size or scale which requires extra conditions in order to lessen their impact on neighboring residences. It is intended that uses permitted in this District be scattered within single family or multi family zoning districts.
Zone name
Residential Institutional Conditional
General category
CIVIC_INSTITUTIONAL
Zone area
713.39 ac
Source
Realmo
Building & site characteristics
From public records
Year built
2005
Heating
YES
Cooling
Yes
Stories
1
Lot
1.23 ac
Current owner
From public records · entity-resolved
Harry C Grimmer
Individual
Free & Clear · 29 yrs held
Mailing address
1985 OLD UN CHURCH RD, SALISBURY, NC 28146-7917
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
1996
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 17, 2018
—
Gsprj-nc1 LLC
—
Deed
related
$94,000 · South St Bk
Aug 23, 1996
$120,000
Harry C Grimmer
Grimmer,harry C
Grant Deed
related
—
Aug 17, 1989
$68,000
Charles E Hulsey
Unknown
Grant Deed
—
—
—
Gsprj-nc1 LLC
—
Deed Of Trust
related
$94,000 · South St Bk
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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