About 1016 Devore Lane
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.
Features of 1016 Devore Lane
| MLS® # | 4352561 |
|---|---|
| Price | $4,775,000 |
| Acres | 4.15 |
| Year Built | 2016 |
| Type | Commercial Sale |
| Sub-Type | Retail |
| Status | Active |
Community Information
| Address | 1016 Devore Lane |
|---|---|
| City | Matthews |
| County | Mecklenburg |
| State | NC |
| Zip Code | 28105 |
Amenities
| Utilities | Cable Connected, Electricity Connected, Natural Gas |
|---|---|
| Is Waterfront | No |
| Has Pool | No |
Interior
| Cooling | Central Air, Gas |
|---|---|
| Fireplace | No |
| Has Basement | No |
Exterior
| Lot Description | Level |
|---|
Additional Information
| Date Listed | March 2nd, 2026 |
|---|---|
| Days on Market | 190 |
| Foreclosure | No |
| Short Sale | No |
Listing Details
| Office | NAI Beverly-Hanks |
|---|