The physical and mechanical properties of repair mortar (RM), incorporating a multipurpose hybrid admixture and a high-strength concrete matrix phase known as micro-concrete (MiC), have been experimentally investigated. The flexural and compressive strengths, as well as the modulus of elasticity of each mixture, were tested at 7 and 28 days. The dimensional stability of prismatic bar specimens under dry and water-saturated conditions was monitored over a period of 56 days. The thermal coefficient of expansion for each repair material was determined, and the risk of thermal cracking was evaluated. Additionally, the bonding performance of admixed repair mortar and micro-concrete with substrate mortar (SM) was assessed using a modified slant shear test setup. The influence of surface roughness on slant shear strength was also studied. The compatibility of each mix design with substrate mortar was quantified and compared using a “physico-mechanical compatibility” based proximity comparison criterion. The proposed methodology can be used to monitor the compatibility and bonding potential of a repair material for a given substrate. Test results and analysis indicated that the admixed RM, with lower compressive/tensile strength ratio, performed better than MiC in terms of substrate compatibility.