197 N Old New Hope Rd - Freestanding FOR SALE


Gastonia, NC 28054
$9,960,000 USD
980-498-3293
197 N Old New Hope Rd, Gastonia, NC for Sale
$9,960,000 USD
Freestanding - FOR SALE
1/6
null | 7.65% Cap Rate

197 N Old New Hope Rd
Gastonia, NC 28054


HIGHLIGHTS

  • UPSIDE THROUGH NEAR-TERM RE-LEASING
  • CHARLOTTE, NC - A TOP PERFORMING MARKET NATIONALLY
  • POSITIONED IN DENSE RETAIL NODE

OVERVIEW

ATTRACTIVE LEASE FUNDAMENTALS - Two-Tenant NNN Center - Gabe’s Lease Includes 10% Increases at Each Option, Sauders Lease Includes 3% Increases at Each option - Provides Built-In Inflation Hedge - Current WALT of 2.73 Years UPSIDE THROUGH NEAR-TERM RE-LEASING - Short WALT (2.73 Years) Creates Opportunity to Capture Market Rent Growth - Excellent ReTenanting Potential with Modernized Building and Strong Location Fundamentals POSITIONED IN DENSE RETAIL NODE - Within a 1-mile radius of the subject site is more than 2.7M SF of retail space - Site is also positioned Along New Hope Road in Gastonia’s Main Retail Corridor - Surrounded by National Credit Tenants Including Walmart, Target, and Lowe’s - Excellent Accessibility and Visibility NEARBY ANCILLARY CUSTOMER BASE - Property Benefits from Continuous Traffic Between Akers Center and Eastridge Mall, Located Directly Across the Street - Eastridge Mall is Anchored by Belk, Dillard’s, and Cinemark - Constant Flow of Shoppers Provides Strong Ancillary Customer Base and Increased Sales Potential for On-Site Tenants CHARLOTTE, NC - A TOP PERFORMING MARKET NATIONALLY - Charlotte MSA has added more than 215K people from 2020 to 2024, making it the 5th fastest growing city in the country - The Charlotte, NC region is expected to add 1.5 million residents and reach 4.5M by 2050 REGIONAL CONSUMER DRAW - Gastonia Serves as a Primary Retail Hub for Western Charlotte Metro - Over 114K Residents Within 5 Miles - Steady Population and Income Growth Supports Tenant Sale

FOR SALE DETAILS

PRICE

$9,960,000 USD

PRICE/SF

$107 USD /SF

CAP RATE

7.65%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Gabe's & Sauder

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Storefront, Department Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1978

SPRINKLERS

-

PARKING SPACES

415

LAND DETAILS

LAND ACRES

7.64 AC

LAND SF

332,798 SF

ZONING

C-3

APN/PARCEL ID

109862

ASK ABOUT THIS PROPERTY

David HoppeAtlantic Capital PartnersMore Info
980-498-3293

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David HoppeAtlantic Capital PartnersMore Info
980-498-3293

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.