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Property profile & analytics
OFF-MARKET
Estimated value
$70,100,000
Strip malls
9609 Independence Blvd, Matthews, NC 28105-8603
Entity Owned
1-yr Hold
Free & Clear
Property ID
US53-1093473
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1987
Total area
106,750 SF
Lot
9.46 ac (412,208 SF)
Zoning code
C
APN
19330309
UPID
US53-1093473
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
-
Ross Dress for Less Department Store Men'S Clothing Store
-
Dunbar Connolly Ortho Dental Office
-
rue21 Clothing Store Men'S Clothing Store
-
Shoe Carnival Clothing & Fashion Store (Bike/Boat/Book/etc) Store
-
Amazon Locker - Myrn Marketing & Advertising IT Consulting Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$70.10M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$70.10M
Owner & transaction history
Rcc Windsor Square LLC · 1 yrs held
Rcc Windsor Square LLC
since 2024
Last sale
$70.1M
2 recorded transactions
Zoning & alternative use
C · Matthews, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$69.1M
+124.2%
Restaurant
$63.3M
+105.5%
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
$70,100,000
ML approach
$70,100,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$69,055,000
Change: +124% · Conversion: Easy
RESTAURANT
$63,310,000
Change: +106% · Conversion: Difficult
Blend value · Realmo final
$70.10M
Range $63.09M – $77.11M · ±10% · vs last sale $70.10M (Nov 27 2024)
Last sale anchor
$70.10M
Nov 27 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
$657 / 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
$122,829
Tax year 2023
Assessed value
$16,607,500
Assessed 2024
Previous assessed
$16,897,600
-1.7% YoY
Effective rate
0.74%
On assessed value
Assessed land
$6,319,600
Assessed improvement
$10,287,900
Land market value
$6,319,600
Improvement market value
$10,287,900
Total market value
$16,607,500
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1987
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
1
Units
1
Rooms
30
Total area
106,750 SF
Lot
9.46 ac (412,208 SF)
Zoning code
C
APN
19330309
UPID
US53-1093473
Jurisdiction
MECKLENBURG
Zoning & alternative use
C · Matthews, NC
Zoning C · permitted uses
C · 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
COMMERCIAL (GENERAL)
Est. value
$69.1M
RESTAURANT
Est. value
$63.3M
COMMERCIAL (GENERAL)
RESTAURANT
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
1987
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Units
1
Rooms
30
Lot
9.46 ac
Current owner
From public records · entity-resolved
Rcc Windsor Square LLC
Entity
Free & Clear · 1 yrs held
Mailing address
302 DATURA ST STE #100, WEST PALM BEACH, FL 33401-5481
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 27, 2024
$70,100,000
Rcc Windsor Square LLC
Sc Windsor Square LLC
Special Warranty Deed
—
Jul 2, 2003
$38,400,000
Sc Windsor Associates LP
Windwor Square Rpfiii LLP
Grant Deed
related
$32,500,000 · Wachovia Bank NA
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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