1016 Devore Lane, Matthews, NC for sale

Investment Overview

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.