2.8-acre infill parcel in Matthews, NC with approved rezoning to R-3 Multi-Family. Site is cleared with utilities at street. Located 0.4 miles from Novant Health Matthews Medical Center and 1.2 miles from I-485 interchange.
Strategy: Acquire, hold for 18-24 months while surrounding area develops, then exit to national senior housing builder or ground lease to operator. Area comps support $85K per door land basis.
Matthews / Union County Corridor
Matthews 65+ population growing 4.2% annually. Median income $72K. Strong demand for active adult housing.
0.4 miles from 236-bed hospital. Critical for senior living tenant retention and family peace of mind.
1.2 miles to I-485. 25 minutes to Uptown Charlotte. 20 minutes to Pineville medical district.
Sell to national builder at entitled value
24% IRR / 1.6x MultipleGround lease to operator, refinance return of capital
18% IRR / Ongoing Cash Flow