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Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
22136896
22136897

2465 S New Hope Rd, Gastonia, NC 28054

DB
MI 6502378067, OH BRKP.2020008390
Encore Real Estate Investment Services
MG
MI MI 6501381426
Encore Real Estate Investment Services
BH
MI 6501349119
Encore Real Estate Investment Services
Listed by Encore Real Estate Investment Services
$2,100,000
457 days on market
Updated 3 days ago

Walgreens

Details
Property Type Retail
Sub Type Convenience Store, Pharmacy/Drug (+1)
Square Footage 10,908
Cap Rate 7.27%
NOI $152,712
Occupancy 100%
Tenancy Single
Lease Type Net
Lease Term 27.5
Lease Expiration 03/31/2026
Rent Bumps Yes
Price per SqFt $193
Year Built 1998
Buildings 1
Acreage 1.740
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 10/23/1998

LOW PRICE POINT DRUG STORE | NEW ROOF INSTALLED IN 2023

Investment highlights

  • 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

Listing Contacts

DB
MI 6502378067, OH BRKP.2020008390
Encore Real Estate Investment Services
MG
MI MI 6501381426
Encore Real Estate Investment Services
BH
MI 6501349119
Encore Real Estate Investment Services
Listed by Encore Real Estate Investment Services

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$152,712.00
$12,726.00/mo

Valuation Metrics

0
DSCR
7.27%
Cap Rate
7.27%
ROI

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Additional Information

Name
Brian Brockman
License
NC #298998
Brokerage
Bang Realty
Brokerage Phone
513.898.1551
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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