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1016 Devore Ln
Matthews, NC 28105
Pike Nursery · Retail Property For Sale
Executive Summary
Outstanding investment opportunity in the retail hub of Matthews. The tenant, Pike's Nursery, is a national chain with the parent organization 135 years old.
The absolute net lease has 11 years remaining on the first term, with multiple additional option periods. The structure was build in 2016. In March, 2027, the rent will increase by 10%, creating a capitalization rate of 6.5%.
This property is located within a few minutes of virtually every retailer of note and 4,000 apartment units.
The absolute net lease has 11 years remaining on the first term, with multiple additional option periods. The structure was build in 2016. In March, 2027, the rent will increase by 10%, creating a capitalization rate of 6.5%.
This property is located within a few minutes of virtually every retailer of note and 4,000 apartment units.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Garden Center
Building Size
40,000 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2016
Price
$6,781,461 CAD
Price Per SF
$169.54 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.22
Lot Size
4.15 AC
Zoning
O(CD)
Parking
62 Spaces (1.55 Spaces per 1,000 SF Leased)
Amenities
- Air Conditioning
Property Taxes
| Parcel Number | 193-521-10 | Improvements Assessment | $3,105,390 CAD |
| Land Assessment | $2,834,815 CAD | Total Assessment | $5,940,204 CAD |
Property Taxes
Parcel Number
193-521-10
Land Assessment
$2,834,815 CAD
Improvements Assessment
$3,105,390 CAD
Total Assessment
$5,940,204 CAD
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