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Walgreens 2465 S New Hope Rd 10,908 SF Retail Building Gastonia, NC 28054 $2,100,000 ($192.52/SF) 7.27% Cap Rate
Investment Highlights
- Double Net Lease Structure: Limited landlord responsibilities, ensuring ease of management
- Prime Location: Strategically positioned at the signalized intersection of S. New Hope Rd (21,500+ VPD) and Redbud Dr (18,000+ VPD)
- Strong Demographics: Household income within a 1-mile radius exceeds $77,484, with a population of over 110,000 within a 5- mile radius
- Long-Term Commitment: Tenant has maintained operations at this location for over 26 years
- Recent Capital Improvements: Brand-new roof installed in 2023, covered by a warranty
- Superior Property Features: Drive-thru equipped with ample parking, excellent visibility, and prominent frontage and signage along S. New Hope Rd.
Executive Summary
Double Net Lease Structure: Limited landlord responsibilities, ensuring ease of management
Long-Term Commitment: Tenant has maintained operations at this location for over 26 years
Prime Location: Strategically positioned at the signalized intersection of S. New Hope Rd (21,500+ VPD) and Redbud Dr (18,000+ VPD), offering excellent accessibility and visibility
Recent Capital Improvements: Brand-new roof installed in 2023
Strong Demographics: Household income within a 1-mile radius exceeds $77,484, with a population of over 110,000 within a 5-mile radius
Superior Property Features: Drive-thru equipped with ample parking, excellent visibility, and prominent frontage and signage along S. New Hope Rd, located near I-89 with over 130,00 vehicles per day
Nationally Recognized Tenant: Walgreens operates over 9,200 locations across the U.S. and is a subsidiary of Walgreens Boots Alliance (NASDAQ: WBA)
High-Traffic Retail Corridor: Situated directly across from Walmart Neighborhood Market and surrounded by national retailers, including Circle K, Dunkin', Food Lion, Pizza Hut, Sherwin-Williams, and Subway
Long-Term Commitment: Tenant has maintained operations at this location for over 26 years
Prime Location: Strategically positioned at the signalized intersection of S. New Hope Rd (21,500+ VPD) and Redbud Dr (18,000+ VPD), offering excellent accessibility and visibility
Recent Capital Improvements: Brand-new roof installed in 2023
Strong Demographics: Household income within a 1-mile radius exceeds $77,484, with a population of over 110,000 within a 5-mile radius
Superior Property Features: Drive-thru equipped with ample parking, excellent visibility, and prominent frontage and signage along S. New Hope Rd, located near I-89 with over 130,00 vehicles per day
Nationally Recognized Tenant: Walgreens operates over 9,200 locations across the U.S. and is a subsidiary of Walgreens Boots Alliance (NASDAQ: WBA)
High-Traffic Retail Corridor: Situated directly across from Walmart Neighborhood Market and surrounded by national retailers, including Circle K, Dunkin', Food Lion, Pizza Hut, Sherwin-Williams, and Subway
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
10,908 SF
Building Class
B
Year Built
1998
Price
$2,100,000
Price Per SF
$192.52
Cap Rate
7.27%
NOI
$152,670
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
1.74 AC
Zoning
RET05
Parking
55 Spaces (5.04 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
- Wheelchair Accessible
- Air Conditioning
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 148677 | Improvements Assessment | $1,474,710 |
| Land Assessment | $603,510 | Total Assessment | $2,078,220 |
Property Taxes
Parcel Number
148677
Land Assessment
$603,510
Improvements Assessment
$1,474,710
Total Assessment
$2,078,220
Contacts
-
Deno Bistolarides -
Michael Gaggo -
Brandon Hanna -
Encore Real Estate Investment Services
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Walgreens | 2465 S New Hope Rd
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