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Property profile & analytics
OFF-MARKET
Estimated value
$3,190,000
Office buildings
725 Park Ctr Dr Matthews, NC 28105-5012
Entity Owned
17-yr Hold
~
Est. High Equity
Property ID
US53-0452065
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2008
Total area
10,259 SF
Lot
1.07 ac (46,435 SF)
Zoning code
I-1
APN
19324306
UPID
US53-0452065
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
-
Morningstar Properties LLC Property Management Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.96M
Comparable Approach
Comparable
$4.11M
Blend (final)
Blend
$3.19M
Owner & transaction history
Morningstar Office LLC · 17 yrs held
Morningstar Office LLC
since 2009
2 recorded transactions
Zoning & alternative use
I-1 · Matthews, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$3.7M
+15.4%
Retail stores
$3.3M
+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%
$3,200,000
6.5%
$2,955,000
7%
$2,740,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,215,000
Current use
MEDICAL BUILDING
$3,710,000
Change: +15% · Conversion: Easy
RETAIL STORES
$3,255,000
Change: +1% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$2,960,000
Change: -8% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,815,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$3.19M
Range $2.87M – $3.51M · ±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
$311 / 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
$21,019
Tax year 2023
Assessed value
$2,841,900
Assessed 2024
Previous assessed
$2,858,800
-0.6% YoY
Effective rate
0.74%
On assessed value
Assessed land
$1,057,500
Assessed improvement
$1,784,400
Land market value
$1,057,500
Improvement market value
$1,784,400
Total market value
$2,841,900
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2008
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Total area
10,259 SF
Lot
1.07 ac (46,435 SF)
Zoning code
I-1
APN
19324306
UPID
US53-0452065
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
OFFICE BUILDING Current
Est. value
$3.2M
MEDICAL BUILDING
Est. value
$3.7M
RETAIL STORES
Est. value
$3.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.0M
AUTO REPAIR, GARAGE
Est. value
$2.8M
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
2008
Heating
FORCED AIR
Cooling
Yes
Stories
2
Lot
1.07 ac
Current owner
From public records · entity-resolved
Morningstar Office LLC
Entity
Mailing address
725 PARK CTR DR, MATTHEWS, NC 28105-5012
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 19, 2009
$1,853,000
Morningstar Office LLC
Matthews Parkway Corporate Center L
Special Warranty Deed
$1,602,300 · First Trust Bank
Apr 19, 2007
$1,500,000
Parkway Corporate Cen Matthews
Mcnamara Marilyn A Trust
Grant Deed
$988,000 · Newdominion 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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